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Court rules RBSI employee ‘dishonestly assisted’ Marrache & Co to defraud online millionaire

A Royal Bank of Scotland International employee “dishonestly assisted” the Marrache brothers defraud Irish online gambling millionaire Jim Magner out of millions of pounds, the Supreme Court ruled yesterday.
Puisne Judge Adrian Jack found RBSI liable for the money totalling £9.1m that had been misappropriated by Marrache brothers Benjamin, Isaac and Solomon through their law firm Marrache & Co.
Reacting to the ruling RBS International said it had noted the Supreme Court’s decision and was “naturally disappointed at the outcome”.
RBSI said it would now consider the judgment in detail before “we determine our next steps”.
At yesterday’s court proceedings Mr Justice Jack awarded Mr Magner £400,000 in costs to be paid by RBSI within 14 days. Mr Magner could now recover the £9.1m lost, plus interest.
RBSI had robustly denied claims of dishonest assistance throughout the two-week long lawsuit, but Mr Justice Jack thought otherwise and ruled in favour of Mr Magner.
Lawyers on behalf of RBSI had insisted the bank had no suspicions when it came to the Marraches and believed the brothers to be “chaotic” in the management of their accounts prior to the law firms collapse in 2010.

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