Litigation
Aug. 8, 2011
Jury awards $46.5 million in Ponzi case
A Fresno County Superior Court jury returned a $46.5 million verdict Friday against participants in a Ponzi scheme.
By Laura Ernde
Daily Journal Staff Writer
A Fresno County Superior Court jury returned a $46.5 million verdict Friday against participants in a Ponzi scheme that victimized 1,200 people, including many in the Armenian American community.
The jury verdict against Dan Ramirez and Andy Fernandez, former officers of HL Leasing Inc., came three days after the court entered a directed verdict for $114 million against the corporate defendants in the class action.
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