OSRecovery, Inc. v. One Groupe International, Inc.

MEMORANDUM OPINION

KAPLAN, District Judge.

The case is before the Court on a motion by defendant Latvian Economic Commercial Bank (“Lateko”) for summary judgment dismissing the complaint.

Facts

Plaintiffs are former investors in an alleged scheme involving the sale of a nonexistent gold-backed Internet currency (“OSGold”) and the operation of a massive Ponzi scheme disguised as a high-yield investment program (“OSOpps”). They allege that Lateko contributed to the scheme by providing certain key defendants with anonymous debit cards, which the defendants in turn distributed to OSGold and OSOpps…