Investors Sue Signature Bank for $66MM Ponzi Scheme Connection

The New York Times reported that Signature Bank is being sued by a group of investors who accuse the bank of aiding a money manager in executing a Ponzi scheme that lost $66 million of investor money.

According to the Times, William Landberg, whose firm West End Financial Advisors filed for bankruptcy when he pleaded guilty to charges in 2011, was the money manager responsible for the scheme.

Richard Bey, a former television talk show host is among the investors suing Signature said the Times.

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