Following the collapse of a Ponzi scheme that purchased stock in debtors, the bankruptcy trustee filed an adversarial suit against defendants to avoid as fraudulent transfers loan payments made to defendants by entities in the Ponzi scheme. The bankruptcy court ...

Tagged with: Adversarial Proceeding Avoidance of Fraudulent Transfers Bankruptcy Ponzi scheme

U.S. Securities and Exchange Commission v. Quan (MLW No. 70986/Case No. 16-1072 – 14 pages) (U.S. Court of Appeals, 8th Circuit, Kelly, J.)

Tagged with: corporate law Distribution Of Assets Legal Fees Ponzi scheme

Ritchie Capital Management v. Stoebner (MLW No. 67529/Case No. 14-1154 – 16 pages) (U.S. Court of Appeals, 8th Circuit, Riley, C.J.)

Tagged with: Avoidance Bankruptcy Fraudulent Transfer Ponzi scheme

A trial that ended Monday in a $490 million verdict shows how an extensive funeral services scam escaped notice.

Tagged with: National Prearranged Services Inc. Ponzi scheme

Varga v. U.S. Bank National Association (MLW No. 66839/Case No. 13-2709 – 14 pages) (U.S. Court of Appeals, 8th Circuit, Gruender, J.)

Tagged with: Banks and Banking Duty Fiduciary duty Ponzi scheme

Five ex-aides to Bernard Madoff who prosecutors say have shown a “galling” lack of remorse since being convicted of fraud in March are set to be sentenced this week for propelling the biggest Ponzi scheme in U.S. history.

Tagged with: Bernie Madoff Ponzi scheme

Martin T. Sigillito, the attorney and American Anglican Convocation bishop serving a 40-year sentence for orchestrating a massive real estate scheme, has filed suits against the attorneys and law firms that represented him while the scheme was underway.

Tagged with: Hepler Broom Martin Sigillito Ponzi scheme Spencer Fane Britt & Browne

Irving Picard, the trustee unwinding Madoff’s investment firm in bankruptcy, is seeking court permission to sue “net winners” — customers who withdrew more than they invested with Madoff — as far back as six years before the Ponzi scheme collapsed.

Tagged with: Bernie Madoff Ponzi scheme

Bernard Madoff “seemed to have the respect of everyone in the world,” which made it easy to believe lies the con man told to hide his $17 billion Ponzi scheme.

Tagged with: Bernard Madoff Ponzi scheme

JPMorgan Chase & Co.’s $543 million settlement with the trustee for Bernard Madoff’s defunct firm was approved by the judge overseeing its liquidation.

Tagged with: Bernard Madoff JPMorgan Chase & Co. Ponzi scheme

Brent Cassity may be preparing to plead guilty.

Tagged with: National Prearranged Services Inc. Ponzi scheme