U.S. Bankruptcy Judge Kathleen Sanberg concluded BMO Harris Bank lied, gave the court "false and misleading" testimony and "intentionally destroyed and failed to preserve the Minnesota e-mail backup tapes."
A Florida federal judge on Wednesday weighed a proposal to auction off nearly 1,000 life insurance policies held by a trust formed in the wake of a U.S. Securities and Exchange Commission lawsuit over the $837 million Mutual Benefits Corp. insurance investment fraud that victimized thousands of investors.