Federal Judge Dismisses Ponzi Scheme Suit Against U.S. Bank

Federal Judge Dismisses Ponzi Scheme Suit Against U.S. Bank

ST. PAUL, Minn. - A federal judge in Minnesota on July 2 dismissed a Ponzi scheme victim's suit against U.S. Bank National Association, noting that liability for aiding and abetting a breach of fiduciary duty cannot exist without an underlying breach of that duty (Geoffrey Varga v. U.S. Bank National Association, No. 12-3180, D. Minn.; 2013 U.S. Dist. LEXIS 92729).

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