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BMO is exonerated in Tom Petters Ponzi scheme case by a U.S. appeals court, dismissing a $564 million jury verdict against the bank.
Court referenced a similar ruling in a case involving Bernie Madoff , noting that a debtor’s misconduct is attributed to the trustee because they represent the debtor.
BMO plans to reverse a C$1.19 billion ( $875.5 million ) provision related to the case.
Citi denies Martin ’s claims that she protested the reporting of a key metric accurately or that Selva objected to it.
The bank says Selva and Martin met in September 2023 to discuss reporting certain metrics using red, amber, and green scales.
Citi says Martin failed to heed the feedback provided, and she was ultimately removed from the Data Transformation Chair role because she lacked the leadership needed to successfully execute the data transformation efforts.
VR Score
71
Informative language
66
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49
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English
Language complexity
59
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Attention-grabbing headline
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6
Source diversity
6
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