Federal Judge Grants Summary Judgment To Receiver In Ponzi Scheme Suit

NEWARK, N.J. - The conveyance of mortgages to certain parties was "a transfer of assets made with an actual intent to hinder, delay, or defraud" the unsecured creditors of a limited liability company alleged to have operated a Ponzi scheme, a federal judge in New Jersey ruled May 20, granting summary judgment in favor of the receiver of the company (Michael P. Pompeo v. The Estate of Oscar Hudson, et al., No. 11-6899, D. N.J.; 2013 U.S. Dist. LEXIS 70930).

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