U.S. Set to Appeal Judge’s Ruling in $300 million Suit Against Lloyds, Bank of Cyprus

By Brian Monroe

The U.S. Justice Department is planning to appeal a judge's ruling that it does not have the jurisdiction to sue two European banks it believes helped launder nearly $300 million tied to a massive securities fraud. Federal prosecutors Monday filed a notice of appeal before Southern District of New York Judge Charles Haight, Jr. in its case against United Kingdom-based Lloyds TSB and Bank of Cyprus, with the stipulation that the appeal will go into effect only if Haight denies an April 14 government motion to amend the original complaint. The Justice Department sued the banks for $292 million in...