An heiress has launched a massive trust-fund lawsuit against major global banks, accusing them of playing a central role in the decades-long misappropriation of her family’s wealth.
Tanya Dick-Stock and her husband, Darrin Stock, allege that Barclays, HSBC and related trust firms unlawfully facilitated her late father’s siphoning of roughly $350 million from a trust that was supposed to benefit her, reports the New York Post.
The lawsuit seeks $12 billion in damages and could reshape how financial institutions are held accountable for trust mismanagement and offshore schemes.
Dick-Stock is the daughter of the late Canadian-born Denver real estate magnate John Dick Sr., a figure the complaint portrays not just as a fiduciary who breached his duties but as an architect of complex offshore transactions involving fake loans, backdated documents and commingled accounts.
Central to the Stocks’ case is the allegation that Barclays and HSBC improperly handed control of her trust to La Hougue, an Isle of Jersey-based trust company controlled by her father, in violation of a trust provision that explicitly required successor trustees to be U.S.-regulated banks or trust companies.
By appointing La Hougue, the plaintiffs allege, the institutions committed what British legal doctrine calls a “fraud on a power,” rendering the appointment void from the start and leaving the banks still legally responsible as trustees.
The Stocks say they uncovered more than 300 boxes of internal documents in the family’s former Jersey manor that reveal a pattern of misconduct. Those materials allegedly include forged loan agreements, internal memos and banking records demonstrating how Dick Sr. used La Hougue to conceal assets and assist a cast of international clients associated with tax evasion and fraud.
Among those named in the filings are individuals tied to high-profile offshore financial networks, including the siblings of convicted trafficker Ghislaine Maxwell — a connection that has drawn the interest of U.S. Senate investigators probing the financial entanglements surrounding the late Jeffrey Epstein.
The lawsuit asserts that the original trustees never legally resigned, meaning Barclays and its affiliates remain liable for the trust’s losses.
Barclays and HSBC have declined to comment publicly on the lawsuit, and the trust companies named in the complaint did not respond to requests for comment by publication time.
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The post US Heiress Slaps Billion-Dollar Lawsuit on Banks for Allegedly Aiding the Looting of Her $350,000,000 Trust Fund appeared first on The Daily Hodl.
An heiress has launched a massive trust-fund lawsuit against major global banks, accusing them of playing a central role in the decades-long misappropriation of her family’s wealth. Tanya Dick-Stock and her husband, Darrin Stock, allege that Barclays, HSBC and related trust firms unlawfully facilitated her late father’s siphoning of roughly $350 million from a trust
The post US Heiress Slaps Billion-Dollar Lawsuit on Banks for Allegedly Aiding the Looting of Her $350,000,000 Trust Fund appeared first on The Daily Hodl. Fintech, Regulators, bank, banks, lawsuit, News, wealth
This articles is written by : Nermeen Nabil Khear Abdelmalak
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