Duped investors seeking to recoup their money from a $370 million ponzi scheme were given a new tool by the Pennsylvania Supreme Court—the ability to claim a bank is on the hook for “aiding and abetting” fraud.
The unanimous court recognized—for the first time Thursday—that this kind of claim could be brought in the state. The ruling allows a retrial against a Bryn Mawr Trust Company, which the receiver for the investors claims allegedly looked the other way while one of the bank’s biggest clients peddled fake certificates of deposit.
The court’s decision aligns Pennsylvania with at least seven other …
