Claims for Nazi-Looted Art Have Gloomy Future

07 Jun 2012 2:28 PM | Anonymous

Claims for Nazi-Looted Art Have Gloomy Future
     (CN) - A federal judge cast doubt this week on the latest lawsuit filed by a man who was disbarred after deceiving the court about a nonexistent group with alleged ties to billions of dollars worth of Nazi-looted art.

     In the 1990s, Edward Fagan represented thousands of Holocaust survivors and their descendants in lawsuits against Swiss banks that had withheld Nazi money from the Jewish families who laid claim to it. Fagan took credit for an unprecedented $1.25 billion settlement in 1998, but his reputation came into question after some former clients accused Fagan of negligence, fraud and misappropriation of funds.

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