Deutsche Bank Hit With $95 Million Verdict in Florida Ponzi Case

Deutsche Bank AG must pay $95 million over allegations it negligently disregarded warning signs about a high-dollar Ponzi scheme and even aided and abetted it, a jury in Florida determined Tuesday.

Representatives of 13 Cayman Islands companies undergoing liquidation brought the suit in the US District Court for the Southern District of Florida. Five of them were allowed to proceed to trial.

The lawsuit is among a dozen filed over a South Florida real estate investment scheme, including at least two against Deutsche Bank, which has been dealing for years with accusations of lax internal controls.

The liquidators alleged that ...