Bank's Loss From Investment Scheme Covered Under Bond, Federal Judge Rules

Bank's Loss From Investment Scheme Covered Under Bond, Federal Judge Rules

ST. PAUL, Minn. - A bank insured's losses arising from its employees' involvement in an e-mail-based investment scam are covered under a financial institution bond, a Minnesota federal judge ruled Jan. 10 (Avon State Bank, Plaintiff, v. BancInsure Inc., No. 12-2557 $(RHK/LIB$), D. Minn.; 2014 U.S. Dist. LEXIS 3099).

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