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We know what you are thinking. Still? Five years later, he still makes the year’s Top 10 in Financial Fraud Law? How could that be?
He orchestrated the largest Ponzi scheme in history, reverberating to this day. Criminal trials involving people from his firm continue. Some of his family members, including his brother, have gotten their just desserts while others still are trying to fend off various plaintiffs and cases.
Civil litigation – an astounding amount of civil litigation – continues. The Securities Investor Protection Corporation/bankruptcy case of his firm is going on and on, and on – and generating an enormous amount of significant caselaw and, yes, legal fees. What’s more, a new fund has just been announced that will yield some payments to his “indirect” victims.
And, yet, despite his infamy, the schemes continue. Note that, just recently, the Financial Fraud Law Blog reported on two alleged Ponzi schemes, one in which 28 investors allegedly were defrauded in an $18 million Ponzi scheme and one that allegedly occurred in New York – his very home territory – involving a Long Island man charged with orchestrating a $5 million Ponzi scheme.
Moreover, Congress continues to introduce “investor protection” bills because of him. And it continues not to pass them.
For all these reasons, and more, #6 in Financial Fraud Law for the year is:
- ‘Maybe Just Whistle’: #7 in Financial Fraud Law for the Year
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- #9 in Financial Fraud Law for The Year Is…
- #10 in Financial Fraud Law for the Year Is….
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