The Bank of New York Mellon (BNY Mellon) is being taken to court over its alleged involvement in the $4 billion Ponzi scheme OneCoin, according to court documents published by CoinDesk earlier today.

The class-action lawsuit has been amended by investors Donald Berdeaux and Christine Grablis to include the major U.S. bank.

Berdeaux and Grablis are seeking damages against OneCoin and its leadership days after an explosive investigation by Buzzfeed News and the International Consortium of Investigative Journalists found BNY Mellon had processed some $137 million in funds connected to the OneCoin scam.

According to the report, the investors put in about $1 million into the company and allege that the bank processed the payments four years ago and flagged it as a possible Ponzi scheme through an internal investigation in December 2016. However, the investors claim the bank did not file a suspicious activity report (SAR) with the Financial

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(Bloomberg) — Bank of New York Mellon Corp. has told the majority of its employees to continue working remotely for the rest of the year, postponing previous plans to have some staff return in September.



Signage is displayed outside a Bank of New York Mellon office building in New York York.


© Bloomberg
Signage is displayed outside a Bank of New York Mellon office building in New York York.

About 96% of the bank’s roughly 48,000 employees have been working remotely since March. They’ll continue to do so until at least Jan. 1, spokeswoman Madelyn McHugh confirmed. Businesses around the world are grappling with how and when to reopen offices as Covid-19 cases continue to rise.

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“Our top priority remains the health and safety of our employees and our clients,” McHugh said in an emailed statement. “We remain operational and responsive to client needs during this time.”

BNY Mellon’s plan bucks a trend in which many banks have been inviting workers back — albeit

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