Michael P. Denver leads Hollister & Brace’s Class Action practice. He has served as class counsel representing policyholders and victims of white collar crime and has also served as counsel to Independent Fiduciaries appointed by the U.S. Department of Labor.
Michael is rated “AV Preeminent” by Martindale-Hubbell® Peer Review Ratings™.
Hollister & Brace has filed a Class Action lawsuit against ZB, N.A., doing business as California Bank & Trust, (CB&T) in the United States District Court for the Eastern District of California. The Complaint alleges that CB&T knowingly provided substantial assistance to a $125,000,000 fraud initiated by International Manufacturing Group, Inc. (IMG).
IMG misled investors into believing their funds would be used for IMG’s purchase and importation of “wholesale” batches of latex surgical gloves and other medical supplies. Unbeknownst to the investors, IMG’s “wholesale” business was non-existent and a complete fraud.
The Complaint alleges that: (i) CB&T knew that IMG’s “wholesale” business was a fraud; (ii) nonetheless, CB&T provided IMG with substantial assistance by, among other things, allowing funds from defrauded investors to be deposited in CB&T accounts and by disbursing those funds from CB&T accounts in accord with IMG’s instructions; and (iii) but for CB&T’s assistance, the Plaintiffs would not have been victimized by IMG’s fraud.
Attorney Michael P. Denver of Hollister & Brace, APC, along with attorney Robert L. Brace, has filed a class action complaint in Federal Court in Los Angeles on behalf of people who purchased ATM machines sold by Nationwide Automated Systems, Inc. (“NASI”). The complaint alleges that the two Calabasas-based principals of NASI, Defendants Joel Gillis and Ed Wishner, ran a Ponzi scheme at NASI for over 15 years, enticing investors from several states into buying ATMs located in various parts of the country which NASI then “leased-back” from the investors in exchange for “rent” generated by the $2.00 to $3.00 transaction fees paid each time the ATM was used. Defendants Gillis and Wishner have plead guilty to Federal crimes which they committed in the course of the alleged Ponzi scheme and they currently reside in Federal correctional facilities. The complaint alleges that Gillis and Wishner’s misconduct was known to, and substantially assisted by Defendant City National Bank (“CNB”). The complaint alleges that CNB is liable to the class members and must pay the class members’ damages. The complaint can be viewed here. Anyone who invested in NASI and who would like to assist in the investigation may fill out a NASI claim form that may be viewed here.