Bank Fraud

In 2002, Getnick & Getnick LLP was retained by the president of a California-based corporation in connection with the embezzlement of funds by the corporation’s Controller. This investigation, and litigation, was conducted in cooperation with the FBI and the local U.S. Attorney’s Office. It led to the criminal conviction of the Controller and a $40M civil judgment in favor of the corporation.

In the 1980s and continuing into the 1990s, Getnick & Getnick, together with co-counsel, conducted two complex civil RICO litigations stemming from banking and investment fraud and related money laundering. One of these became the first certified civil RICO class action case in the country and resulted in a multi-million dollar settlement for the investor victim class. The parallel criminal case was prosecuted in the Southern District of New York. The other case stemmed from a complex banking and investment fraud and money laundering scheme perpetrated by a former U.S. Secretary of the Treasury and others. The former official and his key co-conspirators were convicted in the Southern District of New York. Judgments exceeding two million dollars were obtained against key defendants in the civil case.

See: Marcia Chambers, “From Treasury Secretary to Guilt in a Fraud,” New York Times, June 16, 1987.