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Category Archives: Bankruptcy Clawback News

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Wannakuwate Case: Are Clawbacks Looming?

Posted in Bankruptcy Clawback News, Legal Representation

The Deepal Wannakuwatte case is entering a new phase.  Leaders in the Northern California bankruptcy community are abuzz with the near certainty that a bankruptcy, likely an involuntary one, will be filed in the Wannakuwatte case. Such a filing will bring the appointment of a trustee coupled with the later appointment of counsel. Whether special… Continue Reading

Stanford Brokers Targeted in Multimillion Clawback

Posted in Bankruptcy Clawback News, Ponzi Profiles, Ponzi Video

In the latest dispute over the ruins of Allen Stanford’s $7 billion empire of fraud, 329 former Stanford brokers have been targeted for $215 million. Stanford Receiver Ralph Janvey is looking to undertake clawback action against the onetime sales agents of Stanford Financial Group (SFG), which collapsed in 2009 after its signature certificate of deposit… Continue Reading

Vincent Singh Pleads Guilty in $20 Million Ponzi Scheme

Posted in Bankruptcy Clawback News, Ponzi Profiles

An Elk Grove, CA, man has admitted he engineered a $20 million Ponzi scheme that devastated the local ethnic Indian-Fijian community in Northern California. Vincent Thakur Singh, 45, pleaded guilty in US District Court last Thursday to single counts of wire fraud and making false statements in a bankruptcy. A wire fraud charge carries a… Continue Reading

Puppeteer’s Ponzi Makes for Massive Clawback

Posted in Bankruptcy Clawback News, Ponzi Profiles, Uncategorized

The court-appointed receiver in the $600 million Zeek Rewards Ponzi case has launched the first round of clawback lawsuits against the principal figures in the scheme as well as net winners. Receiver Kenneth D. Bell filed two complaints in US District Court in Charlotte, NC, last Thursday for the purpose of recovering proceeds from Zeek’s… Continue Reading

Hackard Law – Defending Victims of Investment Fraud

Posted in Bankruptcy Clawback News, Legal Representation, Ponzi Analysis

Here at Hackard Law, 2013 has been a strong year for Ponzi Clawbacks. Not only have we covered well over 200 stories so far, we’ve also provided insight and analysis into the workings of investment fraud schemes, their criminal elements and the aftermath- when bankruptcy clawback litigation can come into play. We’re especially glad that… Continue Reading

Triple Damages Available in Investment Fraud Cases: Bell v. Feibush Changes the Legal Landscape

Posted in Bankruptcy Clawback News, Ponzi Analysis

Analysis provided by Betsy Bynum. Bell v. Feibush, a case decided in January of this year by the Fourth Appellate District of the California Court of Appeal, has received attention for its recognition of the availability of treble damages for the theft of personal or real property- three times the amount of actual damages inflicted. … Continue Reading

Stanford Ponzi Case Hits Supreme Court

Posted in Bankruptcy Clawback News, Legal Representation

Despite the government shutdown, the US Supreme Court is back in session, and its first order of business is connected with the second-largest investment fraud case in American history. Chief Justice John Roberts and his colleagues will be hearing arguments on whether to block further class-action lawsuits by investors in R. Allen Stanford’s Ponzi scheme,… Continue Reading

The Petters Clawback Case: A Reasonable Approach to Settlement

Posted in Bankruptcy Clawback News, Ponzi Video

Article by Hackard Law Associate Jeremy Rutledge As Thomas Petters cools his heels and enjoys the culinary fare of Fort Leavenworth Prison, his $3.6 billion Ponzi scheme continues to haunt victims in ongoing clawback litigation. The United States Bankruptcy Court in Minneapolis has been the arena for a host of adversary claims spawned by the… Continue Reading

TD Bank Hit Again Over Rothstein Ponzi

Posted in Bankruptcy Clawback News, Ponzi Profiles

Though Fort Lauderdale attorney Scott Rothstein’s $1.4 billion Ponzi scheme may have imploded in 2009, its fallout continues to reach the headlines with regularity. In the latest news, Toronto-Dominion Bank (TD Bank) has agreed to hand over another $52 million to the US government for facilitating the white-collar con that rocked South Florida and earned… Continue Reading

If You Lie Down with Dogs, You Get Up with Fleas

Posted in Bankruptcy Clawback News, Legal Representation

This observation, attributed to Benjamin Franklin’s Poor Richard’s Almanac, brings to mind the common experience of Ponzi victims.  I’ve written about my own experience with a Ponzi artist – one who proclaimed that all things were possible (presumably all financial things); when I pointed out that some of what he wanted to make possible was… Continue Reading

Rothstein Victims to be Fully Reimbursed

Posted in Bankruptcy Clawback News

In a turn of events that could hardly have been foreseen when Scott Rothstein’s monster scam was exposed in late 2009, its victims will be fully reimbursed in accordance with an agreement reached in court last week. Rothstein, the flashy Fort Lauderdale lawyer who flushed $1.4 billion down a golden toilet of bogus “structured settlements,”… Continue Reading

Usury Claims in Doubt in CA Ponzi Clawback Case

Posted in Bankruptcy Clawback News, Legal Representation

In July and August 2012, bankruptcy Trustee Michael Burkart brought over one hundred clawback lawsuits in the underlying bankruptcy case In Re Vincent Thakur Singh, et al., U.S. Bankruptcy Court, Eastern District of California, Case No. 10-42050, against nearly 200 people who were defrauded in an elaborate Ponzi scheme orchestrated by Vincent Singh.  The vast… Continue Reading

Swinger Political Operative Settles Rothstein Clawback Suit

Posted in Bankruptcy Clawback News, Ponzi Profiles

Roger Stone, the veteran Washington lobbyist sporting a Richard Nixon tattoo on his back, has reached a settlement with the trustee of convicted Ponzi mastermind Scott Rothstein’s bankruptcy. Sued for $400,000, the Republican strategist will end up paying just 4.5% of that amount at $18,000. Rothstein, a Fort Lauderdale attorney with a flair for easy… Continue Reading

SCI Bankruptcy Trustee Files Adversary Clawback Lawsuit Against 114 Defendants: The Complaint And Its Exhibits Are Over 1800 Pages

Posted in Bankruptcy Clawback News, Legal Representation

Hackard Law attorneys regularly represent plaintiffs and defendants in adversary cases, including clawbacks, in federal bankruptcy courts. The process of representation is often initiated by a preliminary review of our prospective client’s case. A part of this review is the use of the PACER online system (Public Access to Court Electronic Records) made available by… Continue Reading

Contingency Fees, Adversary Claims and Ponzi Cases

Posted in Bankruptcy Clawback News, Legal Representation, Ponzi Analysis

The contingency fee system is a litigation reality unique to the United States. This system plays a significant role in the selection and prosecution of civil cases, including the prosecution of adversary claims against investors and/or victims of Ponzi schemes. While it is true that contingency fees can allow the poor and impoverished a “key… Continue Reading

Avoidance Actions against Investors in Ponzi Schemes: The Fundamentals Revisited

Posted in Bankruptcy Clawback News, Legal Representation, Ponzi Analysis

U.S. District Judge David Godbey’s 32-page Order allowing the Receiver in the R. Allen Stanford Receivership Estate to “clawback,” or recover, all back interest payments paid to Stanford investors is a worthy read as a remedial lesson in the character of Ponzi-based clawback actions. Court-appointed receivers often file lawsuits or clawback actions against investors who were… Continue Reading