Richard Korn along with co-counsel from Chicago, recently obtained a dismissal with prejudice of their client, a national trust company, in a case where the plaintiffs claimed to have invested and lost millions of dollars in a “Ponzi Scheme” devised and carried out by a third-party who ultimately was indicted by a federal grand jury and convicted of money laundering, wire fraud and mail fraud. The plaintiffs pled various causes of action against Richard’s client, including (a) aiding and abetting breach of fiduciary duty, (b) aiding and abetting fraud, and (c) conspiracy. In their Motion to Dismiss, Richard argued that defendant was immune from liability for the alleged conduct under the Safe Harbor provisions of the federal Bank Secrecy Act, 31 U.S.C. Section 5318. After the motion was fully briefed and argued in front of the trial court judge, the motion was granted and the case was dismissed with prejudice.