Photo of Karli Celestin

Karli focuses her practice on financial services litigation in both state and federal courts nationwide.

September was an active month for Ponzi litigation with nearly a dozen new complaints filed alleging fraudulent investment activity. The SEC continues to drive Ponzi-related litigation; in addition to four enforcement actions brought last month, previous SEC litigation precipitated several complaints filed by investors and court-appointed receivers. Consistent with the trends discussed in Ponzi Perspective’s Midyear Roundup, the majority of actions filed in September involved real estate investment schemes and targeted solicitation of affinity groups.

Notable litigation filed in September 2023 includes: (1) Conlan v. Roach, et al.; (2) Reispec Develop. LLC v. Pina, et al.; (3) Dottore v. SDR Realty; (4) SEC v. Kubler, et al.; (5) McGrath v. Palowet Inv., LLC; (6) SEC v. Feloni, et al.; (7) SEC v. Aras Inv. Bus. Grp., et al.; (8) American Eagle Oil & Gas Co., et al. v. Navarro Prod. Co., et al.; (9) Luppino v. Spano, et al.; and (10) SEC v. Motil, et al.

Continue Reading… Notable Litigation – September 2023