153965P.pdf   05/24/2017  Phil Rosemann  v.  St. Louis Bank
   U.S. Court of Appeals Case No:  15-3965
   U.S. District Court for the Eastern District of Missouri - St. Louis   
   [PUBLISHED] [Chief Judge Smith, Author, with Wollman and Benton, Circuit 
   Judges] 
   Civil Case - RICO. District court's grant of summary judgment in suit by 
   defrauded investors against St. Louis Bank for violation of Missouri's 
   Uniform Fiduciaries Law, aiding and abetting breach of fiduciary duty, 
   conspiracy to breach fiduciary duty and conspiracy to violation RICO is 
   affirmed. The Uniform Fiduciaries Act requires actual knowledge or bad 
   faith that the fiduciary was defrauding the principal or using the 
   fiduciary funds for private purposes; the record does not support that the 
   bank had a duty to investigate or should have been put on notice the funds 
   were misused. Bank employees lacked actual knowledge of breach of 
   fiduciary duty or source of IOLTA funds. Covering overdrafts did not by 
   itself amount to bad faith, especially in light of uniqueness of IOLTA 
   funds. There is no authority that repayments of debts guaranteed by a 
   fiduciary are for the fiduciary's personal benefit. Common law breach of 
   fiduciary duty claims also failed; bank not liable for failing to object 
   or mere negative acquiescence in the fraud and there was no evidence bank 
   had a meeting of the minds to carry out unlawful purpose or conspire to 
   violate RICO.