The U.S. Treasury must pay hundreds of thousands of dollars in legal fees to an attorney it accused of covering up a fraud that led to the failure of a Miami bank, a U.S. appellate court ruled Tuesday.
A Miami lawyer at odds with the U.S. Treasury Department for alleged bank fraud and his law firm are balking at a request to produce documents tied to the investigation of financier Robert Allen Stanford.
The U.S. Treasury Department is challenging a federal judge's recommendation to drop civil charges against a former attorney accused of helping a Miami bank hide over $20 million in losses.
A financial regulator should drop its case against attorney Carlos Loumiet, who it accused of covering up the fraud that led to the dissolution of a Miami bank, an administrative law judge said Tuesday.
Banking attorneys are closely watching the trial of Miami lawyer Carlos Loumiet for allegedly helping to hide a massive bank fraud, a case they say could disrupt the independent review process often used to vet anti-fraud and anti-money laundering controls.
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