LexisNexis® Legal Newsroom
Doug Esten
Key Player In $150 Million Ponzi Scheme Gets 1-Day Sentence

A California man accused of being a key player in a $150 million Ponzi scheme - allegedly the largest scheme ever uncovered in Orange County, California – will spend one day in jail for his role despite once facing over thirty felony charges. Adam...

Arina Shulga
New Regulation A: Will It Get an A+ From the Startup Community?

On March 25, 2015, the Securities and Exchange Commission (the “SEC”) announced that it was adopting final rules amending and updating Regulation A. These new rules, which become effective on June 19, 2015 , have been informally dubbed “...

Jordan D. Maglich
Texas Man Charged With $4.5 Million Oil-and-Gas Ponzi Scheme

A Texas man is facing criminal charges on allegations that he ran a $4.5 million Ponzi scheme through the sale of purported interests in oil and gas wells. William Allen Risinger was charged with three counts of wire fraud and one count of money laundering...

Mack Sperling
North Carolina Business Court: High to Low Posting of ATM Debit Card Transactions Properly Disclosed by Bank

The meaning of the word "item" was the definitive factor in the Business Court's decision last week in Gay v. People's Bank , 2015 NCBC 59 [ an enhanced version of this opinion is available to lexis.com subscribers ]. The case was...

Jordan D. Maglich
TelexFree Trustee Provides Update On Claims, Losses, And Clawbacks

The bankruptcy trustee tasked with recovering funds to compensate hundreds of thousands investors worldwide who were duped in the massive TelexFree fraud appeared at a Bankruptcy court hearing today where he provided an update on the complexity of the...

Jordan D. Maglich
"Brooklyn Madoff" Ponzi Victims Sue Banks for $36 Million

Several dozen victims of a massive Ponzi scheme masterminded by a Brooklyn man dubbed the "Bernie Madoff of Bay Ridge" have filed a lawsuit seeking over $36 million from several financial institutions that allegedly aided the decades-long Ponzi...