Okla. Dep't of Secs. ex rel. Faught v. Blair, 2010 Okla. LEXIS 14 (Okla. February 23, 2010)

Okla. Dep't of Secs. ex rel. Faught v. Blair, 2010 Okla. LEXIS 14 (Okla. February 23, 2010)

LexisNexis Overview: The Oklahoma Department of Securities and a court-appointed receiver of a Ponzi-scheme operator could proceed against innocent investors in a Ponzi scheme to recover unreasonable profits received in excess of their investments in the scheme, but the Department's action was subject to equitable setoffs raised in defense by the investors.

Counsel: G. David Bryant  and Lisa Wilcox, Kline, Kline, Elliott & Bryant, P.C., Oklahoma City, Oklahoma, for Appellants in Nos. 104,004; 104,161; and 104,262 (Consolidated with No. 104,304).

Melanie Hall, Gerri Kavanaugh, and Amanda Cornmesser, Oklahoma City, Oklahoma for Appellee Oklahoma Department of Securities in Nos. 104,004; 104,161; and 104,262 (Consolidated with No. 104,304).

Bradley E. Davenport, Gungoll, Jackson, Collins, Box, & Devoll, P.C., Enid, Oklahoma for Appellee, Douglas L. Jackson, Receiver, in Nos. 104,004; 104,161; and 104,262 (Consolidated with No. 104,304).

Russell L. Mulinix, Amy G. Piedmont, Mulinix, Ogden, Hall, Andrews & Ludlam, P.L.L.C., Oklahoma City, Oklahoma, for Petitioners in No. 105,682.

Melanie Hall, Gerri Kavanaugh, and Amanda Cornmesser, Oklahoma City, Oklahoma for Respondent, Oklahoma Department of  Securities in No. 105,682.

Judges: EDMONDSON, C.J., EDMONDSON, C.J., TAYLOR, V.C.J., OPALA, COLBERT, and REIF, JJ., CONCUR. HARGRAVE, KAUGER, WINCHESTER, JJ., DISSENT. WATT, J., NOT PARTICIPATING.

Lexis.com subscribers can view the enhanced version of Okla. Dep't of Secs. ex rel. Faught v. Blair

Non-subscribers can view the free, unenhanced version of Okla. Dep't of Secs. ex rel. Faught v. Blair on lexisONE's Free Case Law

  • Tags: