Quarles & Brady LLP

Blog Authors

Latest from Quarles & Brady LLP

A federal appeals court has ordered that a receiver can recover referral fees paid to a Ponzi scheme investor who referred friends and family to the scheme because those referral services did not provide value to the scheme.  The U.S. Court of Appeals for the Ninth Circuit issued a decision in Hoffman v. Markowitz affirming the district court’s previous award of partial summary judgment in favor of the court-appointed receiver over Nationwide Automated Systems, Inc. (NASI). …
Three Florida Keys residents were arrested by state authorities and accused of running a Ponzi scheme that duped investors out of at least $7 million.  Jose Luis Leon, 56, Richard Renner, 56, and Natalie Marie Rogers, 53, were arrested earlier this month on charges of racketeering, conspiracy to commit racketeering, securities fraud, organized fraud, and 1st degree grand theft.  The trio could face significant prison time if convicted of all charges, as the racketeering charges…