Posts tagged as:

ponzi scheme

Tweet- From LexisNexis® Mealey’s™ Daily Legal News. The federal bankruptcy judge presiding over the Chapter 11 proceeding of former law firm Rothstein Rosenfeldt Adler (RRA) on Feb. 26 agreed to a settlement in which TD Bank will pay $ 41 million to resolve allegations that it committed fraud and aided in money laundering as part […]

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Tweet- From LexisNexis® Mealey’s™ Daily Legal News. The brother of convicted Ponzi scheme mastermind Bernard L. Madoff was sentenced to 10 years in prison on Dec. 20 for his role in the scheme, according to a press release issued by U.S. Attorney for the Southern District of New York Preet Bharara (USA v. Peter Madoff, […]

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Tweet- From LexisNexis® Mealey’s™ Daily Legal News. Four Bernard L. Madoff Investment Securities LLC feeder funds and several of their current and former owners and officers have agreed to pay nearly $ 220 million to settle claims that they breached their fiduciary duties under the Employee Retirement Income Security Act by “recommending, making and maintaining […]

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Tweet~From LexisNexis® Mealey’s™ Daily Legal News. A federal judge in California on Oct. 5 denied Bank of America NA’s (BOA) motion to dismiss a putative class action alleging that it aided and abetted a mortgage-related Ponzi scheme (Patricia Arreola, et al. v. Bank of America NA, et al., No. 11-6237, C.D. Calif.; 2012 U.S. Dist. LEXIS 144765). […]

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TweetThe world-renown law firm Greenberg Traurig, LLP recently agreed to pay a whopping $61 million to settle a suit brought in the District Court of Arizona.  The suit alleged that Greenberg Traurig aided an alleged Ponzi scheme that ultimately bankrupted two companies and lead to almost $1 billion in losses.  See Facciola et al. v. […]

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TweetOne of the stranger twists in the aftermath of the collapse of the Madoff Ponzi Scheme involved the efforts of the Madoff trustee, Irving Picard, to recover over $300 million from the New York Mets owners.  As a result of this lawsuit, Major League Baseball had to lend the New York Mets money to cover […]

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Tweet A federal district court judge dealt another blow to investors who lost money to Ponzi schemer Bernie Madoff late last week. The judge ruled that investors in feeder funds, i.e. “third-party investors”, could not recover their money from Bernard L. Madoff Investment Securities (“Madoff”).  The investors were not protected because instead of investing their money directly […]

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