In a resounding victory for an investor group fleeced by disbarred attorney Scott Rothstein, a federal appeals court on Tuesday affirmed a $67 million verdict against TD Bank for helping the lawyer-turned-con-man perpetuate his Ponzi scheme.
Rejecting TD Bank’s appeal, a three-judge panel of the U.S. Court of Appeals for the Eleventh Circuit upheld the verdict won by Texas-based Coquina Investments LLC in its entirety, concluding the 2011 trial before U.S. District Judge Marcia Cooke in Miami was untainted by any significant errors and Cooke did not abuse her discretion.
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