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
Category Archives: Legal Representation
Subscribe to Legal Representation RSS FeedSCI Bankruptcy Trustee Files Adversary Clawback Lawsuit Against 114 Defendants: The Complaint And Its Exhibits Are Over 1800 Pages
Posted in Bankruptcy Clawback News, Legal RepresentationHackard 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 AnalysisThe 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 AnalysisU.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
A Lawyer’s Take on Lincoln, Les Miserables and the Better Angels of Our Nature
Posted in Legal RepresentationSteven Spielberg’s Lincoln and the musical Les Miserables strike resonant tones for many Americans, particularly those million-plus lawyers practicing in the United States. I am one of those million. Like thousands of attorneys since Abraham Lincoln’s death, I have tried to apply his recorded wisdom into my everyday law practice. Les Miserables, based on the… Continue Reading
After Ponzi Indictment Vincent Singh Detained Over Flight Risk and Death Threats
Posted in Bankruptcy Clawback News, Legal Representation, Ponzi ProfilesToday in Sacramento Vincent Singh, indicted for a $20 million Ponzi scheme that defrauded around 200 victims, was ordered by District Judge Edmund Brennan to remain in jail until pre-trial hearing in January. Singh’s loan business Perfect Financial went bankrupt in May 2010 after he gambled away $12 million in client funds and could no… Continue Reading
Accused Ponzi Schemer Vincent Singh Arraigned in Sacramento
Posted in Bankruptcy Clawback News, Legal Representation, Ponzi ProfilesVincent Thakur Singh, indicted for fraud in an alleged Ponzi scheme that defrauded nearly 200 victims of $20 million, has been arraigned in court in Sacramento. He had been arrested in Idaho in October upon his indictment and was transported back to California by US Marshals last week. Singh, once the head of Perfect Financial… Continue Reading
Happy Thanksgiving to Our Clients
Posted in Bankruptcy Clawback News, Legal RepresentationFirst and foremost – Happy Thanksgiving to all of our clients. At Hackard Law we represent a large number of clients who voluntarily or involuntarily are engaged in litigation. We value them and we are honored to represent them. Those clients who have been sued in Ponzi schemes deserve special attention. Adversary defendants are involuntary… Continue Reading
Ponzi Schemes Harm Local Ethnic Communities
Posted in Bankruptcy Clawback News, Legal Representation, Ponzi AnalysisAs investment frauds continue to make the news across American cities, a clear pattern emerges among a number of these scams. Ethnic communities are often the target of Ponzi schemers and form a key segment of affinity fraud victims. These groups can fall prey to scams due to the following factors: A smaller subsection of… Continue Reading
Accused Ponzi Schemer Vincent Singh Was Provided a Federal Public Defender
Posted in Bankruptcy Clawback News, Legal Representation, Ponzi Analysis, Ponzi ProfilesOn October 17th, the day after his arrest in Idaho, accused Ponzi schemer Vincent Thakur Singh was provided a federal public defender during his detention hearing. Singh has been indicted by a Federal Grand Jury in Sacramento for numerous counts of fraud – the detention hearing documents indicate that he will seek court-appointed counsel when… Continue Reading
Hackard Law Defends Over Half of Singh Ponzi Scheme Victims from Clawback Lawsuits
Posted in Bankruptcy Clawback News, Legal Representation, Ponzi ProfilesThe following post is from our October 23rd PR Newsire press release. Vincent Thakur Singh filed bankruptcy in the U.S. Bankruptcy Court in Sacramento on August 19, 2010. At the time of Singh’s filing he listed unsecured obligations to creditors in excess of $22,000,000. By the end of August 2012 – the two-year anniversary of Singh’s bankruptcy filing… Continue Reading
Vincent Singh Ponzi Bankruptcy Tests Validity of Usury Claims in Clawback Litigation
Posted in Bankruptcy Clawback News, Legal Representation, Ponzi AnalysisToday at Forbes, attorney and top authority on investment fraud Jordan Maglich has delivered an excellent analysis on the use of lending laws in clawback suits. Maglich examines the recent employment of usury statutes by Court-Appointed Trustees to seize funds from investors in the wake of a Ponzi scheme’s bankruptcy. A trustee or receiver will… Continue Reading
Vincent Thakur Singh Ran $20 Million Ponzi Scheme, Defrauded Investors Through “Perfect Financial Group”, Says Federal Indictment
Posted in Bankruptcy Clawback News, Legal Representation, Ponzi ProfilesVincent Thakur Singh has been indicted on multiple counts of wire fraud, false statements and bribery. Arrested in Idaho on Monday, Singh is accused of operating a Ponzi scheme. Under the cover of his company Perfect Financial Group, he is said to have preyed on nearly 200 fellow members in California’s Indian-Fijian community to defraud… Continue Reading
Advice to a Weary Litigant: The Role of Special Settlement Counsel
Posted in Bankruptcy Clawback News, Legal RepresentationMichael Hackard’s thoughts and strategy on litigation and special settlement counsel were originally published by The Bella Institute in March 2012. See the original entry. You’re at loggerheads. You’ve spent countless time and money on a matter that you once naively expected to see quick and economic resolution. You’re emotionally drained. You’ve become skeptical of… Continue Reading
Ponzi Schemes and Clawbacks: Defending the Victims, not the Perpetrators
Posted in Bankruptcy Clawback News, Legal Representation, Ponzi AnalysisThis legal overview of Ponzi schemes and clawbacks was written by Michael Hackard for The Bella Institute in August 2012. See the original entry. Something’s been proliferating across America – something that has at times shaken investor confidence and at others made financial investors feel like there is a war against them. That which has… Continue Reading
New IRS Rules for Clawbacks
Posted in Bankruptcy Clawback News, Legal Representation, Ponzi AnalysisGetting hit with a clawback lawsuit after being the victim of a Ponzi scheme is a double-whammy. And while we seldom look to the taxman for good news, the IRS has published new rules for Ponzi scheme victims who then went on to suffer clawback lawsuits from a court-appointed trustee. Responsible for administering the Ponzi… Continue Reading
Protecting Victims of Ponzi Schemes
Posted in Bankruptcy Clawback News, Legal RepresentationEvery week in America, new cases of investment fraud hit the headlines. Con-men perpetrate multimillion-dollar Ponzi schemes with ever increasing frequency. These swindles not only cause damage to our economy – they also leave ordinary citizens financially ruined. Americans who thought they were making a sound investment are cheated out of their money when the… Continue Reading