In Hampton v. Equity Trust Co., an individual sold fraudulent investments to the plaintiff. No. 03-19-00401-CV, 2020 Tex. App. LEXIS 5674
(Tex. App.—Austin July 23, 2020, no pet.). The individual ran a Ponzi scheme and had recommended that the plaintiff open a retirement account with Equity Trust Company. Equity Trust Company was the custodian of the plaintiff’s self-directed IRA, from which the plaintiff made the investments. After the scheme came a halt, the plaintiff sued the individual for various claims and Equity Trust Company of aiding and abetting breach of fiduciary duty. After a jury trial, the trial court entered judgment for the plaintiff against Equity Trust Company for aiding and abetting breach of fiduciary duty.
Continue Reading A Rose By Any Other Name Would Not Smell As Sweet: Court Holds That Texas Does Not Have An Aiding And Abetting Breach Of Fiduciary Duty Claim