Federal Judge: Receiver's Suit Related To Alleged Ponzi Scheme Can Proceed

Federal Judge: Receiver's Suit Related To Alleged Ponzi Scheme Can Proceed

HOUSTON - A federal judge in Texas on June 20 denied the motion to dismiss a complaint filed by the receiver for an entity that was used to perpetrate a Ponzi scheme, finding that the receiver pleaded plausible claims relating to his allegations of fraudulent transfers and unjust enrichment (Thomas L. Taylor III v. Community Bankers Securities LLC, et al., No. 12-2088, S.D. Texas; 2013 U.S. Dist. LEXIS 86485).

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