Pearson, Simon & Warshaw, LLP filed a class action on June 30, 2011
against Bank of America and accountant Pablo Araque for aided and abetting
a fraudulent financial scheme that targeted Spanish speaking investors
in Los Angeles. Juan Rangel orchestrated the fraudulent scheme through
a company known as Financial Plus Investments, Inc. Rangel pleaded guilty
in October 2010 to one count of mail fraud and one count of money laundering.
In February 2011, he was sentenced to 22 years in federal prison for the
Ponzi scheme. The lawsuit is brought on behalf of approximately 700 investors
in Financial Plus Investments, Inc. You can download a copy of the
Complaint filed byPearson, Simon & Warshaw, LLP is available for download. If
you are a member of the plaintiff class and want additional information
about the lawsuit, please
contact Pearson, Simon & Warshaw, LLP.