Notable litigation filed during July 2024 includes: (1) SEC v. Kralik, et al., No. 24-cv-01460 (C.D. Cal.); (2) Yang, et al. v. Fei, et al., No. 24-cv-05055 (S.D.N.Y.); (3) Mentink, et al. v. Rowe, et al., No. 24-cv-02047 (D.D.C.); (4) Osprey Investment, Inc. v. Sawyer, et al., No. 24-cv-443476 (Cal. Super.
Continue Reading… Notable Litigation – July 2024
Notable Litigation – May 2024
Notable litigation filed during May 2024 includes: (1) Courtney v. Sawyer, et al., No. 24-cv-37962 (Cal. Super. Ct.); (2) two related actions by a court-appointed receiver, captioned Dottore v. FTF Lending, LLC, et al., No. CV-2024-05-1878 (Ohio Ct. Comm. Pl.); Dottore v. MHS Investors LLC, No. CV-2024-05-1904 (Ohio Ct. Comm. Pl.); and
Continue Reading… Notable Litigation – May 2024Notable Litigation – March 2024
Notable litigation filed during March 2024 includes SEC v. Sanchez, et al. and four related actions captioned Dottore v. FC Real Estate Development Co., Dottore v. Kensington Pointe Ltd., Dottore v. Seibert Enterprises, Ltd., and Dottore v. Harper.
Ponzi Perspectives: 2023 Year-End Roundup
McGuireWoods’ Ponzi Litigation team launched its Ponzi Perspectives blog in early 2021. Since that time, we’ve posted detailed case alerts of Ponzi-related complaints filed throughout the country and posted key decisions that have the potential to influence controlling law on Ponzi-related issues involving financial institutions. This 2023 year-end round up summarizes the cases and opinions analyzed throughout the year and highlights anticipated trends for 2024.
Ponzi Perspectives: 2023 Midyear Roundup
Since 2021, McGuireWoods’ Ponzi Litigation team has been tracking and posting case alerts on Ponzi-related complaints filed in federal and state courts throughout the country and analyzed key decisions that have the potential to influence controlling law on Ponzi-related issues. The blog also posts practical considerations like effective defenses to dismiss Ponzi litigation and common
Continue Reading… Ponzi Perspectives: 2023 Midyear RoundupNotable Litigation – November 2022
Notable litigation for October includes: (1) Kansas Securities Commissioner v. Premier Global Corporation, et al.; (2) Dettmering, et al. v. VBit Technologies Corp., et al.
Notable Litigation – October 2022
Notable litigation for October includes: (1) Karvounides, et al. v. Antonas, et al.; (2) Capital Providers of Cambridge Sarano, LLC, et al. v. Robl, et al.; (3) Investors in Friends of Production Capital LLC v. Friends of Production Capital LLC; and (4) Orrico, et al. v. ABC Capital Investments, LLC.
New Complaint – SEC v. JMJ Capital Group and Richard Lee Ramirez
SEC v. JMJ Capital Group and Richard Lee Ramirez is a Securities Exchange Commission (“SEC”) enforcement action filed in the United States District Court for the Southern District of California on September 30, 2022. JMJ Capital Group (“JMJ”) is a California corporation and Richard Lee Ramirez (“Ramirez”) is the owner and sole operator of JMJ
Continue Reading… New Complaint – SEC v. JMJ Capital Group and Richard Lee RamirezNew Complaint – Conlan v. Alternative Asset Management Acquisition Corp.
Conlan v. Alternative Asset Management Acquisition Corp. was filed in the United States District Court for the District of Colorado on June 14, 2022, claiming Defendants illegally profited from violations of securities laws. The complaint seeks to avoid multiple actual and constructive fraudulent transfers.
Plaintiff is court-appointed substitute receiver Mark Conlan (the “Receiver”), serving as representative and fiduciary of the creditors of the defendants named in the action brought by the Securities and Exchange Commission (“SEC”) captioned United States Securities and Exchange Commission v. Mediatrix Capital Inc., et al., No. 1:19-cv-02594-RM-SKC (the “SEC Action”). Defendants Alternative Asset Management Acquisition Corp., Autumn Gold Service, Crown Financial Services, Crown Private Limited, Marta Nystrom, Mercury Alternative Fund, Patricia Velcich, Phenom Ventures, Ritossa Investment Holding Ltd., and Y Man Investments are brokers that allegedly received funds in connection with the foreign currency trading scheme at issue in the SEC Action.
The SEC Action names individuals Michael A. Young, Michael S. Stewart, and Bryant E. Sewall and entities Mediatrix Capital Inc. (“Mediatrix”), Blue Isle Markets Inc., and Blue Isle Markets Ltd. (collectively, the “Receivership Defendants”).
Continue Reading… New Complaint – Conlan v. Alternative Asset Management Acquisition Corp.
New Complaint – Heinen v. iDigrati, LLC, et al.
Heinen v. iDigrati, LLC, et al. was filed in the Superior Court of Gwinnett County, Georgia on December 16, 2021, claiming civil damages for breach of contract and state securities violations in connection with purported investments in promissory notes sold by Defendants.
Plaintiff is an individual who invested $200,000 with Defendant in exchange for a promissory note. Defendants are the investment company, iDigrati, LLC (“iDigrati”) and its two operating individuals, Narendra Patel and Bruce Rowland. Rowland is deceased and is represented by his estate in this action.
Continue Reading… New Complaint – Heinen v. iDigrati, LLC, et al.