The latest buzz in the Ponzi world is over
the $852,000 arbitration award that former Congressman Alan Grayson won against
Wachovia Securities on April 3, 2012. Grayson lost money in the Derivium
Capital Ponzi scheme and sought damages of $28 million...
It's springtime, and Ponzi schemes are in full bloom. Here
is a summary of stories that were reported this month. Please feel free to post
comments about these or other Ponzi schemes that I may have missed. And please
remember that I am just relaying...
Determined not to hold a securities brokerage firm liable
for fraudulent transfers in a Ponzi scheme case, the Fourth Circuit recently
pushed the boundaries of fraudulent transfer law to affirm the lower court's
dismissal of the trustee's claims...
Last Friday, Florida Governor Rick Scott signed HB 95.
This bill amends § 726.109 of the Florida Statutes by adding this broad defense
to a claim to avoid a charitable contribution as a fraudulent transfer:
"The transfer of a charitable...
The year continues its strong start for Ponzi scheme
news. Here is the summary of the stories that were reported this month. Please
feel free to post comments about these or other Ponzi schemes that I may have
missed. And please remember that I am...
Normally a trustee or investors sue the banks for funds
lost in a Ponzi scheme. Banks are accused of negligently not monitoring their accounts
for fraud or, worse yet, for aiding and abetting the Ponzi scheme perpetrator's
fraud. Federal regulators...
Net winners in a Ponzi scheme - those who have profited -
often get sued to return the profits paid to them. Those who lost money (net
losers) usually don't get sued, unless they were not in "good faith." It is a
bankruptcy trustee or...