Loan Co. Parent Beats RICO Suit Alleging Tribal Partnership

By Caleb Symons (September 2, 2022, 8:41 p.m. EDT) – A federal judge in Baltimore launched allegations on Friday that North Dakota tribesmen conspired with business partners to run a loan sharking scheme, finding the putative class action “devoid of any facts” necessary to prove a violation of U.S. anti-racketeering law.

The lawsuit, which residents of seven states filed in April 2020, does not offer any details about how Cane Bay Partners VI LLLP and its owners handled the loan deal with the tribesmen, or how whose business was even structured, according to U.S. District Judge Lydia Kay. Griggsby.

With plaintiffs’ complaint under the federal Racketeer Influenced and…

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