LexisNexis® Legal Newsroom
The Reach of Receivers in Ponzi Scheme Cases: Where There Is a Will, There Is a Way

One of a receiver's duties in administering a Ponzi scheme case is to commence appropriate litigation to avoid and recover property that the Ponzi schemer fraudulently transferred to third parties. By law, a receiver generally has the benefit of nationwide service to reach a defendant's assets...

Payment of Interest on Investment or Loan: Does it Matter in a Ponzi Scheme?

In the consolidated bankruptcy proceeding of Frederick Darren Berg and the Meridian Funds, the trustee filed several fraudulent transfer actions. In one of them, against Jack W. Brown and Margaret A. Heftel, the trustee claimed that fictitious interest payments were constructive fraudulent transfers...