Judge Dismisses Most Claims Against Bank Arising From Nadel Ponzi Scheme

TAMPA, Fla. - A federal judge in Florida on April 5 dismissed aiding and abetting claims the receiver of imprisoned Ponzi schemer Arthur Nadel brought against Wells Fargo Bank NA and Wachovia Bank NA, finding that the receiver has not shown enough proof that Wachovia knew about Nadel"s fraudulent transactions (Burton W. Wiand, et al. v. Wells Fargo Bank N.A., et al., No. 12-0557, M.D. Fla.).

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