I Trade Finance Inc. v. Bank of Montreal

Supreme Court Hearings

I Trade Finance Inc. v. Bank of Montreal

I Trade Finance Inc. v. Bank of Montreal – November 4, 2010
Case #33394
These two financial institutions were the victims of the same fraudulent scheme. I Trade Finance had provided $11 million to finance fictitious contracts for computer services with a non-existent U.S. company. The fraudulently obtained assets were then used as security to get a credit increase to $75,000 for a BMO Mastercard account. At issue is which financial institution is entitled to the roughly $130,000 that is currently held in trust.