Freehold, NJ - HSBC Bank Accused BY PNC Bank Of Helping To Hide Dwek's Assets

Freehold, NJ - One of the nation's largest financial institutions, PNC Bank, accused HSBC Bank, the world's third-largest, in a lawsuit of helping Solomon Dwek fraudulently hide his assets.

The suit could allow the publicly traded PNC Bank to escape having to report a $25 million bounced check as a loss on its second-quarter financial reports if, as it has asked in this case, a judge to order HSBC to put most of that amount in escrow next week. HSBC's lawyer, William E. Goydan, would not comment.

The PNC lawsuit filed in Superior Court says HSBC refused to reverse the $22.2 million in bank wires, and that Dwek, HSBC, have refused to return its money. PNC asked the judge to order that the money be placed in escrow next week.
In the suit, PNC also accuses unidentified lawyers who it says helped Solomon Dwek transfer the 129 properties, saying they "conspired" and "aided and abetted" both Dweks to secretly defraud PNC.