PE Units Sue Over $9.25M Russian Crypto Fraud

Law360, London (November 22, 2019, 6:50 PM GMT) -- A private equity firm has lodged a suit to force Barclays Bank to disclose information it believes will shed light on a $9.25 million fraud claim involving missing Russian cryptocurrency investments.

Two units of private equity firm GEM Capital have accused U.K. investment manager Dolfin Financial (UK) Ltd. of defrauding it of millions of dollars using accounts provided by Barclays Bank. Also named as defendants are two Dolfin executives.

Andoro Trading Corp. and Uroco Ltd. filed an application on Oct. 28 asking the court to order Barclays to hand over bank statements, account and payment information and customer due diligence documents...

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