LexisNexis® Legal Newsroom
Jordan D. Maglich
Rothstein "Independent Asset Verifier" Gets 30-Month Sentence

A south Florida investment advisor who once served as a financial advisor to convicted Ponzi schemer Scott Rothstein has been sentenced to a 30-month term for his role in the scheme. Michael Szafranski, 37, received the sentence from U.S. District Judge...

Jordan D. Maglich
After Failed Suicide Attempt, Ex-Biglaw Lawyer To Plead Guilty To $5 Million Ponzi Scheme

A former Biglaw lawyer who was charged with operating a $5 million Ponzi scheme after surviving a Ponzi scheme will reportedly plead guilty to fraud charges. Charles Bennett, a former lawyer at renowned law firm Skadden Arps Slate Meagher & Flom LLP...

Jordan D. Maglich
Madoff Victims Who Lost $1.1 Million or Less Will Soon Be Fully Repaid

The court-appointed bankruptcy trustee for Bernard Madoff's massive Ponzi scheme is seeking to make a sixth distribution to Madoff's defrauded victims that, if approved, would fully repay victims with losses of $1.1 million or less. Trustee Irving...

Alexander Davie
Discussion of Recent Invalidation of the US-EU Safe Harbor Framework for Online Privacy

Last week, I was a guest on the “This Week in Law” Podcast, where I talked about the potential impact of the recent invalidation of the US-EU Safe Harbor framework for online privacy. This will likely have far-reaching consequences for startups...

Jordan D. Maglich
After Mistrial, Feds Will Retry Cay Clubs Founder In November

Authorities are hoping that Fred Davis Clark's good luck streak has finally run out. The founder of Cay Clubs, which has been accused by civil and criminal authorities of operating a massive $300 million Ponzi scheme that duped scores of investors...

Jordan D. Maglich
Bank Hit With $72 Million Judgment for Role in $100 Million Ponzi Scheme

An Ohio-based bank was tagged with a $72 million judgment - ballooning to nearly $83 million with accrued interest - for its role in providing banking services to a notorious Ponzi schemer who committed suicide as authorities closed in. Huntington Bank...