MIAMI (AP) _ A federal appeals court has upheld a judgment for TD Bank to pay an investment group $67 million for their complicity in disbarred South Florida attorney Scott Rothstein's $1.2 billion Ponzi scheme.
The 11th U.S. Circuit Court of Appeals in Atlanta made its ruling Tuesday. The original lawsuit was filed by Texas-based Coquina Investments. It claimed Rothstein used a TD Bank branch in Florida and some of its employees to persuade investors that the scam involving phony legal settlements was legitimate.
TD Bank has previously said that Rothstein was to blame for the fraud.
Rothstein is serving a 50-year prison sentence after pleading guilty in the case. His scheme involved investments in fake legal settlements.
(Photo: CBS 4)