U.S. judge awards USD67.6 million to Bank of Mongolia - News.MN

U.S. judge awards USD67.6 million to Bank of Mongolia

Old News! Published on: 2010.09.27

U.S. judge awards USD67.6 million to Bank of Mongolia

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A judge in Fort Lauderdale
in Florida has awarded a USD67.6 million judgment to Bank of Mongolia  in a lawsuit alleging fraud, civil theft,
racketeering and conspiracy. Lauderhill-based M&P Global Financial
Services, M&P Global Financial Services Europe, Burton D. Greenberg and son
Joel E. Greenberg were found liable to the bank by District Judge William P.
Dimitrouleas.

Bank of Mongolia, the
Asian country”s central bank, had been trying to build an affordable housing
project and M&P and the Greenbergs had agreed to raise the funding.

“We”re very pleased
with the outcome,”” said David Mankuta, Fort Lauderdale-based attorney with
Atkinson, Diner, Stone, Mankuta & Ploucha, who represents the Bank of
Mongolia. “The bank and the country suffered a great deal as a result of these
people.””

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