Forbes reported that according to a complaint filed on behalf of the liquidator of Palm Beach Finance Partners (PBF), GE Capital had information that should have led it to believe that Thomas Petters was running a Ponzi scheme back in 2000. Petters was found guilty of fraud in 2009 and is now serving a 50-year sentence.

Forbes noted that a ruling in the Southern District of Florida concluded that the trustee for liquidating PBF was successful in causing the case against GE Capital to move forward on the basis that it entered into a conspiracy with one of the largest Ponzi schemes in U.S. history

To read the Forbes article click here.

Previously on monitordaily Estate of Defunct Palm Beach Finance Sues GE Capital, January 28, 2013