Chang, et. al. v. Interactive Brokers LLC (“IB”) was filed in the Northern District of California on August 2, 2021. The complaint seeks civil damages for claims of aiding and abetting fraud, aiding and abetting breach of fiduciary duty, and
Ponzi Perspectives
Analysis, Impact, and Outlook on Ponzi Scheme Litigation
Ponzi Perspectives, published by McGuireWoods LLP, focuses on legal developments related to Ponzi scheme litigation. The blog tracks and analyzes complaints filed in federal and state courts, covering cases involving traditional and emerging Ponzi schemes, including those related to cryptocurrency, clean energy tax credits, and other alternative investments. It discusses government enforcement actions by agencies such as the SEC and CFTC, as well as civil litigation initiated by defrauded investors and court-appointed receivers. The blog also addresses legal standards for claims against financial institutions accused of aiding and abetting fraud, and provides insights into trends and practical considerations for parties involved in Ponzi-related disputes.
Latest from Ponzi Perspectives - Page 8
New Complaint – Sedlar-Sholty, et al. v. Acclivity West, LLC, et al.
Sedlar-Sholty, et al. v. Acclivity West, LLC, et al. was filed in the Superior Court of the State of California, County of Los Angeles on July 19, 2021 seeking damages for negligence, breach of fiduciary duty, and negligent and intentional…
New Complaint – Ballard v. NTB Financial Corporation
Ballard v. NTB Financial Corporation was filed in the Arapahoe County District Court on July 7, 2021, claiming that Defendants conspired with Financial Visions, Inc. (“FV”) and its principal, Dan Rudden (“Rudden”), to induce investors into purchasing unregistered securities in…
New Complaint – Morrison v. Rockwell
Morrison, et al. v. Rockwell, et al. was filed in California Superior Court, Marin County, on May 28, 2021. The complaint seeks civil damages for claims of breach of fiduciary duty, multiple violations of the California Corporations Code, constructive fraud,…
Minnesota Court Untangles Who Owns What Claim in the Fallout of a Ponzi Scheme
The collapse of a Ponzi scheme usually follows a familiar pattern. When the scheme is exposed, the company created by the schemer—which is usually little more than a sham entity—is placed into receivership or declares bankruptcy (or both). A receiver…
New Complaint – Abidog v. New York Life Insurance Co.
Abidog v. New York Life Insurance Co. was filed in the Superior Court of the State of California on June 18, 2021, seeking damages and rescission of unregistered promissory notes sold in a Ponzi scheme that deprived elderly and other…
New Complaint – SEC v. The Estate of Kenneth J. Casey
SEC v. The Estate of Kenneth J. Casey is a case filed by the SEC in the United States District Court for the Northern District of California on June 2, 2021, claiming that Kenneth Casey (“Casey”), the founder of Professional…
New Complaint – Wiand as Receiver for Oasis International Group, Limited, et al. v. ATC Brokers Ltd, et al.
Wiand v. ATC Brokers Ltd, et al. was filed in U.S. District Court for the Middle District of Florida, on May 28, 2021. The complaint was filed by a Receiver appointed in an action brought by the Commodity Futures Trade…
New Complaint – Whitmore v. Horwitz
Whitmore v. Horwitz was filed in the Central District of California on April 20, 2021, seeking class certification and unspecified civil damages. The complaint alleges fraud by omission, aiding and abetting fraud, breach of fiduciary duty, and aiding and abetting…
New Complaint – SEC v. Silver
By Jenny Yi
The SEC filed SEC v. Silver in the United States District Court, Southern District of New York on April 13, 2021, claiming Defendant Silver orchestrated and carried out a string of frauds to cover up tens of millions of dollars…