Canada’s BMO books $834 million charge over U.S. Ponzi lawsuit loss
(Reuters) -A U.S. jury on Tuesday found a local unit of Canada’s Bank of Montreal (BMO) liable for over $550 million in damages over a Ponzi scheme operated by a Minnesota businessman, leading the bank to book a charge of C$1.12 billion ($834.2 million). Thomas Petters was found guilty in 2009 of orchestrating a $3.65 …
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