BMO Harris Bank sued in Petters Bankruptcy Case

The Chicago-based BMO Harris Bank has been sued by the trustee in the Tom Petters bankruptcy case asking for unspecified damages.  The trustee is accusing the bank in aiding Petters in by ignoring the massive amounts of funds flowing in and out of the bank account Petters used to launder money for is Ponzi scheme.

A representative for the bank denies the allegations and states the bank will fight the lawsuit.  BMO Harris is also involved in a lawsuit by a trustee in Florida in regard to a Palm Beach hedge fund that lost money in the Petters case.  For more details read, “Petters bankruptcy case trustee sues BMO Harris.”