Mistrial Declared in $300 Million Real Estate Scandal Case Against Umpqua Bank
SAN JOSE, Calif. — A federal court jury in San Jose could not reach a unanimous decision regarding the liability of Umpqua Bank in a lawsuit stemming from its involvement in a $300 million real estate scheme that bore hallmarks of a Ponzi scheme. The deadlock prompted the presiding judge to declare a mistrial, leaving the victims’ quest for accountability unresolved. The scheme in question reportedly swindled numerous investors, promising high returns on real estate investments which were nonexistent. The plaintiffs in the case argued that Umpqua Bank was complicit or negligently overlooked warning signals … Read more