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Violation Tracker Individual Record

Company: Fidelity Co-operative Bank
Penalty: $22,500,000
Year: 2021
Date: February 26, 2021
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Violation Description: Fidelity Co-operative Bank agreed to pay $22.5 million to settle its role in litigation concerning a complex fraud known as the TelexFree Ponzi scheme.
Level of Government: federal
Action Type: private litigation
Court: District of Massachusetts
Civil or Criminal Case: civil
Case ID: 4:14md2566
Case Name: In re: Telexfree Securities Litigation
Private Lawsuit Resolution Type: settlement
Source of Data: (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.