Update from Zeek Receiver Provides Insights into Recovery, Clawbacks

The court-appointed receiver overseeing tbe recovery of funds for the $600 million ZeekRewards Ponzi scheme has filed his quarterly update (the "Update") with the court, providing interesting insight into asset recovery, litigation against so-called "net winners," and the recently...

Ponzi Victims Successfully Recover $1.4 Million From Net Winner In $100 Million Ponzi Scheme

Victims of the largest Ponzi scheme in Ohio history will now recover at least a small portion of their losses after reaching a settlement to recover $1.4 million in "false profits" received by a more fortunate investor. Glen Galemmo, a former money manager currently serving a 15-year prison...