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Buckley Sandler Achieves Victory for AS Citadele Banka

Buckley Sandler successfully defended AS Citadele Banka (Citadele), a Latvian bank, and its CEO, Guntis Beļavskis, in a matter involving allegations of RICO violations and fraud. The plaintiffs – international real estate developers – alleged in federal district court in the Central District of California that Citadele conspired with a U.S.-based private equity firm to wrongfully foreclose on more than 80 of the plaintiffs’ properties. On the basis of these claims, the plaintiffs sought in excess of $200 million. After several rounds of briefing (on U.S. and Latvian law), the court granted Buckley Sandler’s motion to dismiss without leave to amend. Partner Fredrick Levin led the team with Associate Ali Abugheida, and they were assisted by Partner James Parkinson.