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Ponzi claims at Summit 1031 lead its trustee to sue bank

Umpqua Bank’s lawyer calls lawsuit — seeking $30M — ‘outrageous’

The court-appointed trustee in charge of liquidating the assets of Bend-based Summit 1031 Exchange filed a lawsuit Friday in Multnomah County Circuit Court seeking more than $30 million in damages from Umpqua Bank for allegedly aiding and abetting Summit in operating what the complaint called a....

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