Updates to our Terms of Use

We are updating our Terms of Use. Please carefully review the updated Terms before proceeding to our website.

Tuesday, June 25, 2024 | Back issues
Courthouse News Service Courthouse News Service

$15M fraud loss

ALBANY, N.Y. — A federal court in New York relieved a receiver from overseeing the assets and operations of an investment advisor accused of perpetrating a Ponzi scheme that defrauded one investor of $15 million. There is little evidence to show the advisor received, possessed or controlled the lost funds, so appointing a receiver is unnecessary — the funds are most likely lost at this point.

Read the ruling here.

Categories / Briefs

Subscribe to Closing Arguments

Sign up for new weekly newsletter Closing Arguments to get the latest about ongoing trials, major litigation and hot cases and rulings in courthouses around the U.S. and the world.

Loading...