LexisNexis® Legal Newsroom
Court Dismisses SEC Bid to Force SIPC to Cover Stanford Victim Losses

A federal judge has denied an attempt by the Securities and Exchange Commission ("SEC") to force an industry-funded nonprofit to institute a claims process for the victims of R. Allen Stanford's $7 billion Ponzi scheme. United States District Judge Robert Wilkins issued an order today finding...

SEC Shuts Down Zeek Rewards, Alleges It Was $600 Million "Massive Ponzi Scheme" On Verge Of Collapse

"Unbeknownst to its investors, ZeekRewards is, in reality, a massive Ponzi and pyramid scheme. " -SEC The Securities and Exchange Commission ("SEC") announced late Friday that it had filed suit against ZeekRewards, alleging it operated a $600 million Ponzi scheme that had gained...