An heiress has launched a massive trust fund lawsuit against major global banks, accusing them of playing a central role in misappropriating her family’s wealth for decades.
Tanya Dick-Stock and her husband, Darrin Stock, allege that Barclays, HSBC and related trust firms illegally facilitated her late father to divert approximately $350 million from a trust that was supposed to benefit her, the New York Post reports.
The lawsuit seeks $12 billion in damages and could reshape how financial institutions are held accountable for mismanagement of trusts and offshore schemes.
Dick-Stock is the daughter of the late Canadian-born Denver real estate magnate John Dick Sr., a figure the complaint portrays not only as a fiduciary who breached his duties but as an architect of complex offshore transactions involving bogus loans, backdated documents and mixed accounts.
Central to Stocks’ case is the allegation that Barclays and HSBC improperly handed over control of his trust to La Hougue, a Jersey-based trust company controlled by his father, in violation of a trust provision that explicitly required successor trustees to be banks or trust companies regulated by the United States.
By appointing La Hougue, the plaintiffs allege, the institutions committed what British legal doctrine calls a “fraud on a power,” nullifying the appointment from the beginning and leaving the banks still legally liable as trustees.
The Stocks say they discovered more than 300 boxes of internal documents at the family’s former Jersey mansion that reveal a pattern of misconduct. Those materials allegedly include falsified loan agreements, internal memos and bank records demonstrating how Dick Sr. used La Hougue to conceal assets and assist a group of international clients associated with tax evasion and fraud.
Among those named in the filings are people linked to high-profile offshore financial networks, including the brothers of convicted trafficker Ghislaine Maxwell, a connection that has sparked the interest of US Senate investigators probing financial entanglements surrounding the late Jeffrey Epstein.
The lawsuit claims that the original trustees never legally resigned, meaning Barclays and its affiliates remain liable for the trust’s losses.
Barclays and HSBC declined to comment publicly on the lawsuit, and the trust companies named in the lawsuit did not respond to requests for comment at the time of publication.
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