Citibank Accused of Abetting National Events’ $70 Million Ponzi, warns Bloomberg Law

From Bloomberg Law:

The bankruptcy trustee liquidating the estate of Ponzi vehicle National Events Holdings sued Citibank, claiming that the banking giant helped the defunct ticket broker defraud its investors of about $70 million.

National Events’ fraud, masterminded by former CEO Jason Nissen, was carried out between 2015 and 2017, partly due to “critical” assistance from two of Citibank’s business relationship managers and other Citibank employees, National Events Chapter 7 trustee Kenneth Silverman said in a heavily redacted complaint filed Wednesday in New York state court.

The lawsuit, which seeks $100 million in damages, said Citibank was aware of Nissen’s investor fraud. But …

Continue reading Citibank Accused of Abetting National Events’ $70 Million Ponzi on Bloomberg Law

Do you have a complaint about Citibank, such as locked accounts or overcharges? Take your claim to FairShake, the consumer advocacy service.


Read More:

FairShake is aggregating links to consumer news stories across the web. We claim no rights to the snippets featured.

Latest news

AT&T posts 2.5% rise in quarterly core wireless revenue, warns CNBC

From CNBC: AT&T on Thursday posted a 2.5% rise in core wireless revenue for the first quarter, as the telecom...

Hold AT&T responsible: DirecTV, Ex-Worker Agree To End Religious Accommodation Suit

From Law360: DirecTV and a former wire technician have agreed to end the ex-employee's suit alleging the company refused...

Take action against Uber: Uber, Lyft facing fines for failing to provide drivers with proper COVID-19 protections

From San Francisco Chronicle: Rosa Mendoza, who drives for Uber and Lyft, cleans her car with disinfectant in San Francisco,...

Law360 on AT&T: 5th Circ. Says Insurer Must Cover AT&T Worker’s $3.6M Award

From Law360: The Fifth Circuit said Monday that a Liberty Mutual unit must cover an injured AT&T worker's $3.6...

DirecTV Owes Technicians Pay for Travel to Job Sites, Suit Says, says Bloomberg Law

From Bloomberg Law: DirecTV LLC failed to pay technicians and installers for time spent driving company vehicles from their homes...

Ex-Citi Banker Slams Bond Vigilantes Pushing ESG Agendas on Poor, according to Bloomberg Law

From Bloomberg Law: Bond investors who force lopsided ESG agendas on impoverished nations risk harming some of the world’s most...

You might also likeRELATED
Recommended to you