LOS ANGELES (CN) – British bankers can be sued in California when they make personal appearances to recruit clients in the state, a California appeals court ruled.
Representatives of the Anglo-Irish Bank moved to quash a summons in Los Angeles Superior Court to face a lawsuit from Kal and Imelda Brar, who lost $2 million in investments with the bank.
Justice Croskey ruled that the Irish bank established personal jurisdiction on its trips to the Golden State seeking investors for their “with profit bonds.”
Croskey found that the bankers made the visits to ensure that the funds were from legitimate sources, in order to comply with anti-money laundering statutes.
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