Big Banks Ordered To Share Info After $2M Investment 'Fraud'

Law360, London (December 22, 2020, 3:34 PM GMT) -- A judge ordered Barclays Bank, Lloyds Bank and HSBC on Tuesday to disclose the financial records of a British man to help an American couple trace $2 million they lent to a family member who has disappeared in a get-rich-quick  investment scheme.

Chief Master Matthew Marsh approved a disclosure request at the High Court by John and Heidi Hassenfeld for account information belonging to James Tierney, a director of IFS Management Ltd.

The Hassenfelds told the court on Tuesday that they had lent $2 million to their nephew in January to invest in a scheme run by Tierney to buy and...

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