LexisNexis® Legal Newsroom
Government Forfeiture Beats Creditor Claim in Petters Ponzi Scheme

When a Ponzi scheme breaks, the government rushes to forfeit the assets that constitute or are derived from proceeds traceable to the crime. At the same time, creditors, thinking that they had properly secured their claims, try to grab those very same assets for themselves. A recent decision out of...

Is Help On the Way for Investors Defrauded in Ponzi Schemes?

The quest of defrauded investors in Ponzi schemes to be made whole is ongoing. To recover their funds in the resulting bankruptcy and receivership cases of the Ponzi debtor, investors file proofs of claim to seek reimbursement of their unpaid principal investments and the promised but unpaid interest...