Victims of Los Angeles street gang thefts cannot pursue racketeering claims against HSBC Bank for allegedly laundering the stolen money because the bank was not a direct cause of the crimes, a federal judge in California has ruled. In a decision on Thursday, U.S. District Judge James Otero dismissed a proposed class action brought against the bank in February on behalf of thousands of persons robbed by gangs that allegedly provided money to Mexico’s powerful Sinaloa drug cartel. To read the full story on WestlawNext Practitioner Insights, click here: bit.ly/1OtpvF4
A US judge has filed a pending legal action against prosecutors on behalf of thousands of dollars robbed by street gangs , that the bank allegedly provided money to Mexico 's illegal drug dealers , ruling that the robbery was not a direct cause of the crimes .