Search Results for: Ponzi scheme

The US Court of Appeals for the Second Circuit on Monday vacated 88 decisions by the Bankruptcy Court of the Southern District of New York that prevented the trustee tasked with liquidating the remaining assets of Bernie Madoff’s ponzi scheme from seizing foreign property that had been transferred out of the US prior to Madoff’s [...]

Under current leadership, the federal Consumer Financial Protection Bureau (Bureau) seems committed to only grudgingly protecting consumers from unfair and exploitative financial products.  In its strategic plan, former Acting Director Mick Mulvaney explained that the Bureau had “committed to fulfill the Bureau’s statutory responsibilities, but go no further.”  This language aligns with Mulvaney’s earlier change [...]

India’s Lok Sabha, the lower house of parliament, passed a bill to protect investors from Ponzi schemes on Wednesday. It will become law once it is passed by the upper house of parliament (Rajya Sabha) and receives presidential assent. The Banning of Unregulated Deposit Schemes Bill aims to establish a statutory mechanism to ban Ponzi [...]

Intervening to douse a political fire, the Supreme Court of India on Tuesday issued directions to authorities in a corruption probe on the conduct of the police commissioner of Kolkata, the capital of West Bengal state. Detectives belonging to India’s federal investigation agency, the Central Bureau of Investigation (CBI), arrived at the home of the [...]

Here's the domestic legal news we covered this week: The US Department of Justice (DOJ) announced Thursday that it has begun distributing compensation to victims of Bernie L. The legal world is a busy place....

The US Department of Justice (DOJ) announced Thursday that it has begun distributing compensation to victims of Bernie L. Madoff Investment Securities LLC's (BLMIS) Ponzi scheme. The first set of distributions involve $722.5 million that will...

Here's the international legal news we covered this week: The Office of the Attorney General of Indonesia announced Thursday that it would rescind a policy that banned lesbian, gay, bisexual and transgender (LGBT) individuals from becoming employees....

A Beijing intermediate court sentenced two brothers to life in prison on Tuesday after ruling that the brothers' peer-to-peer lending company, Ezubao, was a Ponzi scheme. One of the brothers, Ding Ning, was founder of the...

JURIST Guest Columnist William G. Ross of the Cumberland School of Law at Samford University discusses the role of the Senate in the confirmation of executive nominees under the new administration... Controversies involving many of the persons nominated by President...

A federal judge blocked litigation on Wednesday dealing with Bernie Madoff's former Ponzi scheme customers. US District Judge Gregory Woods prevented A&G Goldman Partnership and Pamela Goldman from pursuing a lawsuit aimed...