Notable litigation filed during June 2023 includes: (1) Bowman v. Unibank; (2) SEC v. Baston; (3) Hafen v. Guyon, et al.; (4) SEC v. Royal Bengal Logistics, et al.; (5) Decimal Capital Partners v. Benavente; and (6) Agri Capital v. Soberal, et al.

Bowman v. Unibank, No. 2:23-cv-00971-JCC (W.D.

Continue Reading… Notable Litigation – June 2023

Notable litigation filed during May 2023 includes: (1) SEC v. Bartlett; (2) SEC v. Griffin; (3) Warrow v. Turnipseede; and (4) Commodity Future Trading Commission v. Galles.

SEC v. Bartlett, Case No. 8:23-cv-00765 (C.D. Cal.)

The SEC filed suit against defendant schemers in California federal court for an alleged scheme

Continue Reading… Notable Litigation – May 2023

Notable litigation filed during April 2023 includes: (1) SEC v. French, et al., (2) Gary Kennedy v. Ghap, LLC, et al., (3) Abanda v. OurBloc LLC, et al., (4) Sunrise NPL, LLC v. Easy Financial, LLC, et al., and (5) Joseph v. General Conference Corporation of Seventh Day Adventist et al.

Continue Reading… Notable Litigation – April 2023

Notable litigation filed during March 2023 includes: (1) SEC v. Woodard; (2) SEC v. Kaplan; (3) James Bay Resources Limited, et al. v. Lockett & Horwitz, et al.; (4) Miklos v. McNamara, et al.; and (5) Scura, et al. v. Heppner, et al.

SEC v. Woodard, Civ. No. 1:23-cv-00112 (D.

Continue Reading… Notable Litigation – March 2023

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 2022 year-end round up summarizes the cases and opinions analyzed

Continue Reading… Ponzi Perspectives: 2022 Year-End Roundup

Notable litigation filed during January 2023 includes: (1) SEC v. Engel; (2) Firestone, et al. v. Residential Properties Resources Fund II, LLC, et al.; (3) Ellusionist Cash Balance Plan and Trust, et al. v. Spiegel Accountancy Corp., et al.; and (4) SEC v. Ellison-Meade.

SEC v. Engel, Civ. No. 2:23-cv-00213-PA-JPR

Continue Reading… Notable Litigation – January 2023

With a new decision settling the issue, businesses run the risk of being held liable for the conduct of their customers with the potential for increased Ponzi scheme related litigation following the Pennsylvania Supreme Court’s approval of a cause of action for aiding and abetting fraud. 

Continue Reading… Pennsylvania Supreme Court Recognizes a New Cause of Action Against Those Who Aid and Abet Fraud

Notable litigation filed during December 2022 includes: (1) Eichler v. Vbit Technol. Corp;. (2) SEC v. Fernandez, et al.; (3) Vincent v. Barber, et al.; (4) O’Dowd v. Barber, et al.; (5) Nguyen v. Barber, et al.; (6) M. Manni v. Barber, et al.; (7) J. Manni v. Barber, et al.; and (8) Ames, et al. v. Nelson, et al.

Continue Reading… Notable Litigation – December 2022