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Virtual currencies such as bitcoin have grown in popularity. With that popularity it may well have been inevitable that the SEC would bring enforcement actions centered on the new phenomenon, alleging fraud. A new variation of those actions is the predicate...

A Washington jury has found accounting firm Ernst & Young ("E&Y") liable for at least $10 million of losses suffered by a Washington investment company that invested in Bernard Madoff's infamous Ponzi scheme through a "feeder...

In a coverage dispute arising out of the long-running Rothstein Ponzi scheme scandal , a Southern District of Florida judge, applying Florida law, has held that the professional services exclusion in the Rothstein bank’s D&O insurance policy...

The President of Kazakhstan has signed a law criminalizing Ponzi schemes and significantly toughening the penalties for those involved with Ponzi schemes. President Nursultan Nazarbayev signed the law, which amended Kazakhstan's criminal code by allowing...

A group of investors in the Madoff case suffered a loss when the jury verdict was announced in favor of Westport National bank and its parent, Connecticut Community Bank. Read the following article for more information about the jury verdict and the related...

The court-appointed receiver overseeing recovery of assets for Allen Stanford's massive $7 billion Ponzi scheme has filed a lawsuit seeking the return of more than $500,000 donated by Stanford to charitable organizations headed by golfer Tiger Woods...

Aiding and abetting claims against banks in Ponzi scheme cases continue to gain traction in the case law. The district court in which a jury awarded a verdict of $67 million against TD Bank for aiding and abetting Scott Rothstein's Ponzi scheme...

In Ponzi scheme cases, the issue of trustee standing to bring third party claims can be very challenging. The Supreme Court has made clear that a trustee may pursue the debtor’s claims against third party defendants, but may not pursue creditors’...

Suits stemming from Ponzi schemes have been on the rise. Victims of Ponzi schemes often face the prospect of actions by trustees to recover distributions made during the life of the scheme. This Emerging Issues Analysis examines the applicability of...

Below is a summary of the activity reported for February 2016. The reported stories reflect: 10 guilty pleas or convictions in pending cases; over 108 years of newly imposed sentences for people involved in Ponzi schemes; at least 10 new Ponzi schemes...

April was a remarkably busy month for Ponzi scheme news, especially in India. Here is a summary of stories that were reported this month. Be sure to read the international news, because Ponzi schemes are not just limited to the U.S. Please feel free...

Attorneys provide legal services, bill for them, and hope to get paid. Sometimes, they even get paid. When attorney fees meet up with Ponzi schemes, however, the game changes, and attorneys face a host of additional problems relating to their fees...