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Category Archives: Legal Representation

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Whistleblower Key to Prosecuting Bank in Ponzi Lawsuit

Posted in Bankruptcy Clawback News, Legal Representation, Ponzi Profiles

Ponzi Clawbacks has posted extensive coverage of the Scott Rothstein Ponzi case, and not just because of its monstrous $1.2 billion scale. Rothstein himself was sentenced to 50 years in federal prison in 2010, but criminal corruption probes, adversary suits and other civil recovery efforts are ongoing. Indeed, the rulings made in the aftermath of… Continue Reading

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

Wannakuwatte’s Victims: Safe from Further Harm?

Posted in Legal Representation

Lawyers representing Ponzi victims must have a basic understanding of the complicated interplay between criminal actions against perpetrators, potential bankruptcy and tax effects on victims, and the possibilities of civil litigation against perpetrators, other victims and aiders and abettors. While no single lawyer is likely to know the intricacies of each legal process, every lawyer… Continue Reading

Financial Elder Abusers Endanger Our Communities, Says Hackard Law

Posted in Legal Representation

Caretakers, caregivers, brokers, investment advisors or any other people that serve elders in our community must be subject to safeguards that protect the community from predictable crimes.  Finding ways to enforce these safeguards is a challenge for family members and for those professions and people who serve our senior citizens. Financial elder abuse in California… Continue Reading

Supreme Court Decision Aids Ponzi Victims

Posted in Legal Representation, Ponzi Analysis

The United States Supreme Court ruled today, February 26th, that victims of R. Allen Stanford’s massive $7.2 billion Ponzi scheme may proceed in state court actions against law firms, accountants and investment companies that allegedly aided the enormous fraud. The firms that had been sued argued that federal securities law insulated them from state-class action lawsuits. … Continue Reading

IRS Rules for Clawbacks

Posted in Legal Representation, Ponzi Analysis

You could be the victim of a Ponzi scheme? At first you think that it simply can’t be. You know that the promoter showed inventory – financial statements – tax returns. You saw it yourself. Friends invested. It looked legitimate.  Now there’s shock. Racing thoughts. Betrayal. The promoter was a liar? A cheat? A fraud? The… Continue Reading

Medical Glove Company’s $125 Million Secrets Unfolding, Says Hackard Law

Posted in Legal Representation

SACRAMENTO, Calif., Feb. 24, 2014 — /PRNewswire/ — Many investors in Deepal Wannakuwatte’s enterprises considered him to be a friend, both loyal and charming. Charges in a Sacramento federal criminal complaint, if proven, would expose him as a liar, a cheat and a fraud. “My phone started ringing early Saturday morning,” says Michael Hackard of… 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

Sacramento Residents Continually Targeted by Investment Fraud

Posted in Legal Representation, Ponzi Video

The Sacramento area is unfortunately no stranger to investment fraud, as the news headlines regularly attest. Scammers use a variety of techniques and ruses to steal other people’s money under the guise of business ventures, oftentimes preying upon affinity groups like ethnic communities and churches. The Greater Sacramento Area includes seven California counties: Sacramento, Yolo,… 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

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

Credibility Counts

Posted in Legal Representation

Court or tribunal appearances are a common task for litigators. Such appearances afford the Bench needed opportunities to discern the competence, veracity and credibility of members of the litigation Bar. I was recently reminded of this simple but important fact when reviewing a “Benchguide” for California Judges. The Benchguide section of interest was a brief… 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

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