Banks Offer $106 Million To Medcap Investors

Two banks that were trustees for one of the biggest frauds in Orange County history have offered $106 million to make investors go away — but it may not be enough.
Wells Fargo Bank and Bank of New York Mellon struck a secret deal in recent weeks...

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  • Banks offer $106 million to MedCap investors
    Two banks that were trustees for one of the biggest frauds in Orange County history have offered $106 million to make investors go away -- but it may not be enough. Investors lost about $1 billion in Tustin-based MedCap. The company, which claimed to be ...
    05/16/2012 - 2:25 pm | View Link
  • Securities America's Nagengast: Banks sue to skirt MedCap liability
    just weeks after the SEC charged MedCap with fraud. The plaintiffs in that class action claimed in an amended 2010 complaint that the two trustees signed off on requests by Medical Capital executives to take $325 million in fees — despite documents for ...
    05/29/2011 - 2:11 pm | View Link
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