Diamond Fraud Legal class action suit filed

A good friend om mine lost 100K in this Ponzi scheme and i told him in all likely hood that their would be some money recovered I did not think that it would be from a class action suit against Bank of America. this will be a interesting case to watch now that the Bush administration is out of executive office.

The attorneys who were first to pursue Beau Diamond's alleged Ponzi scheme have figured out that the $38 million he collected from 200 investors is likely gone.


Beau Diamond is accused of running a fraudulent foreign currency trading operation. and now they are going after bank of america with a class action suit as they claim that the activities of the account should have raised alarms that this was a scam as well as violating thier own rules and allowing a investment club.


The lawyers are working with a Washington, D.C. law firm that is all ready litigating cases against Bof A for fraud , are seeking $22 million in their class action for damages the suit was filed Friday in U.S. District Court.