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New Orleans archdiocese bond investors accuse church of ‘securities fraud’

Catholic church says it won’t make nearly $1m interest payment but calls fraud accusation ‘extreme stretch’The Roman Catholic archdiocese of New Orleans is planning to default on paying a nearly $1m interest payment on more than $41m in bonds it sold in 2017, leading lawyers for the people who purchased the church’s debt to allege in open court that it had engaged in “the definition of securities fraud”.An attorney for the archdiocese countered that the allegation is “an extreme stretch”. Continue reading...

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