The applicants brought an application seeking relief against Seker for fraudulently misappropriating USD $1,122,833.28 by posing as a legitimate bank and providing fraudulent account details.
The applicants also sought disclosure and payment orders against Iberbanco, the money service business through which the funds were diverted.
The court found that Seker engaged in civil fraud and ordered it to pay the misappropriated funds.
The court also ordered Iberbanco to return bank fees, pay certain funds to the applicants, pay disputed funds into court pursuant to Rule 45.02, and comply with a previous disclosure order, rejecting Iberbanco's argument that disclosure was prohibited by the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.
