at ¶ 40.) By June 2001, the Midland entities opened two more accounts with Lloyds in the name of Midland Euro, Inc. In or about September 1999, the Midland Entities opened at least two accounts with Lloyds in the name of Midland Euro-Exchange, Inc. at ¶ 22.) The Leichners assured investors that their investments were doing well by mailing monthly account statements that were generated arbitrarily. at ¶ 21.) The Leichners commingled the investors' funds in accounts belonging to the Midland Entities and used the commingled funds to make payments to other investors. at ¶ 21.) Although the Leichners promised that investment funds would be used only for trading foreign currency, less than 20% of the funds were actually invested in foreign currency. ( Id.)īased on these representations, approximately 300 investors invested more than $135 million with the Leichners between approximately July 2000 and December 2002. at ¶ 19.) These representations were repeated to investors in literature sent by mail. (FAC ¶ 18.) The Leichners and their employees allegedly told investors in person or over the phone that their investment would generate guaranteed monthly profits between 2-4%. (collectively, "Midland Entities"), to trade foreign currencies. In or around 1999, Zvi Leichner and Moshe Leichner ("Leichners") set up two companies, Midland Euro Exchange, Inc. The Court deems this matter appropriate for decision without oral. *1204 Defendant Lloyds TSB Bank plc's Reply Memorandum of Points and Authorities in Further Support of Motion to Dismiss the First Amended Complaint Pursuant to Fed.R.Civ.P. Plaintiffs' Amended Opposition ("Opp'n") and Declaration of Andrew Esbenshade, were filed on May 24, 2006. Plaintiffs' Opposition to Defendant Lloyds TSB Bank's Motion to Dismiss under Federal Rules 9(b) and 12(b)(6) of the Federal Rules of Civil Procedure was filed on May 15, 2006. Order GRANTING in part and DENYING in part Defendant Lloyd's TSB Bank plc's Motion to Dismiss With Leave to Amendĭefendant Lloyds TSB Bank plc's ("Lloyds") Notice of Motion and Motion to Dismiss the First Amended Complaint and Memorandum of Points and Authorities in Support Thereof ("Motion"), were filed on April 13, 2006: Defendant's Notice of Re-Filing of Defendant Lloyds TSB Bank's Motion to Dismiss was filed on April 19, 2006. Tran, Garrett and Tully, Pasadena, CA, for Kaplan Swicker and Simha Accountancy Corporation, A California Corporation. Menzie, Katten Muchin Zavis Rosenman, Los Angeles, CA, for Man Financial Limited.Īlia S. Gottridge, Lovells, New York, NY, Marc Marmaro, Matthew David Hinks, Jeffer Mangels Butler & Marmara, Los Angeles, CA, for Lloyds TSB Bank, P.L.C.Ĭharles M. Girardi, Girardi & Keese, Los Angeles, CA, for Ralph Gonzales, Alisa King, Jeffrey King, Emmett S. Fugate, Caldwell Leslie and Proctor, Graham B.
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