Judge Will Not Order Director And Officer To Return Ponzi Scheme Proceeds

SACRAMENTO, Calif. - A federal judge in California on May 22 ordered a company to return $100,000 it received from another company's Ponzi scheme proceeds, but the judge would not order disgorgement of the funds from the personal assets of the receiving company's director and officer who ordered the transfer of the funds (Securities and Exchange Commission v. Anthony Vassallo, et al., No. 09-cv-00665, E.D. Calif.; 2012 U.S. Dist. LEXIS 71301).

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