Bank of America sued for allowing $102M Ponzi scheme

Jonathan Levin

06/26/2018

BANK OF AMERICA is being sued for allegedly providing more than 100 accounts used to perpetrate what the U.S. regulators called a $102 million Ponzi scheme. / BLOOMBERG FILE PHOTO/DAVIS TURNER

NEW YORK - Bank of America Corp. was accused in a lawsuit of providing more than 100 accounts used to perpetrate what the U.S. regulators called a $102 million Ponzi scheme. The class-action suit filed behalf of people who lost money follows a complaint last week by the Securities and Exchange Commission alleging that five men…

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