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BMO: Suspicious Activity As Recession Risk Increases. Why Is The Bank Doing This?Spehr: The bankruptcy and district courts rejected BMO's in pari delicto arguments at the dismissal, summary judgment and trial stages. A federal appeals court Thursday tossed out a $ million jury verdict against BMO, which held the bank liable for aiding and abetting a $ billion Ponzi. An Eighth Circuit panel reversed a $ million verdict against BMO Harris Bank, ruling the bank should have been allowed to use the in pari delicto defense.