Litigation
Nov. 30, 2016
SEC Ponzi victory under fire
The judge agreed to exclude nearly $900 million in investor claims, since most were based on alleged cash-only deals.
Daily Journal Staff Writer
LOS ANGELES — A federal judge's decision Monday to exclude nearly $900 million in investor claims from a Ponzi scheme enforcement action came under fire from a lawyer who argued for court hearings to verify his 140 clients' allegations that they had made payments in cash.
U.S. District Judge John F. Walter's decision to disallow a mountain of claims came just a week after Pasadena-b...
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