United States Second Circuit
BANK OF CHINA, NEW YORK BRANCH v. NBM LLC, 02-9267
In order to prevail in a civil RICO action predicated on any type of fraud, the plaintiff must establish "reasonable reliance" on the defendants' purported misrepresentations or omissions. Since the jury instructions misstated the law, the verdict for plaintiff on common law bank fraud and civil RICO claims is vacated and the case remanded.
Appellate Information
- Argued 11/03/2003
- Decided 02/17/2004
- Published 02/17/2004
Judges
- SCHEINDLIN, District Judge., Before: MCLAUGHLIN and KATZMANN, Circuit Judges, SCHEINDLIN, District Judge.
Court
- United States Second Circuit
Counsel
- For Appellant:
- Richard D. Willstatter,Green & Willstatter, White Plains, NY, for Appellants John Chou, Sherry Liu, NBM LLC, Non-Ferrous BM Corp., Yang Mei Corp., and RCHFINS Inc., Joshua L. Dratel and Marshall A. Mintz, Joshua L. Dratel P.C., New York City, for Appellants Shumin Wang, Dao Zhong Liu, GEG International, Inc., BOC Company, CBL Ltd., a/k/a CBL Investment Company Grand Cayman, and Century Ltd.
- For Appellees:
- Richard A. DePalma and Kathryn M. Ryan, Coudert Brothers L.L.P., New York City, for Appellee.