Fidelity Bank, ex-leader John Merrill - brother of TelexFree owner - pay $22.5M to resolve class-action lawsuit
WORCESTER — Leominster-based Fidelity Bank and its former President John F. Merrill agreed to pay $22.5 million Friday to settle claims against them in a class-action lawsuit over the multibillion-dollar TelexFree Ponzi scheme. The bank allowed TelexFree — one of the owners of whom is Merrill’s brother — to deposit large sums of money in bank accounts shortly before the scheme unraveled, though Merrill and the bank have not been criminally charged. A lawyer for Fidelity, Ian D. ...
Source: telegram.com