Ponzi Perspectives

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

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.

Securities and Exchange Commission v. Lam, et al. was filed in the United States District Court for the Central District of California on September 22, 2022, claiming Defendants Brian Lam (“Lam”), Nathan Nguyen (“Nguyen”), NineSquare Capital Partners LLC (“NineSquare Capital”), and Nguyen Group LLC (“NGL”) (collectively, “Defendants”) violated several provisions of the Securities Act and

On August 31, 2022, Plaintiff Melanie E. Damian, in her capacity as the Court-Appointed Receiver for Today’s Growth Consultant, Inc. d/b/a The Income Store (“TGC”) (the “Receiver”) filed a complaint against Defendant Core Financial Outsourcing of Chicago (“Core Financial”) in the Northern District of Illinois (“Damian II”) seeking damages, injunctive relief, interest, and attorneys’ fees

Guo, et al. v. Robl, et al. was filed in the United States District Court for the Central District of California on August 8, 2022.  Plaintiffs assert claims of fraudulent inducement, fraud, breach of fiduciary duty, civil racketeering under RICO, violations of the California Penal and Corporations Codes, violations of state securities laws, and breach

U.S. Commodity Futures Trading Commission v. Giri, et al., was filed in the United States District Court for the Southern District of Ohio on August 11, 2022, claiming violations of several provisions of the Commodity Exchange Act and Commission Regulations. Specifically, the U.S. Commodity Futures Trading Commission (“CFTC”) seeks permanent injunctive relief against all Defendants,

Securities and Exchange Commission v. Okhotnikov was filed in the United States District Court for the Northern District of Illinois on August 1, 2022, claiming violations of several provisions of the Securities Act and Securities Exchange Act in connection with offering and selling unregistered smart contracts operated on the Ethereum, Tron, and Binance blockchains. Specifically,

Securities and Exchange Commission v. Alexandra Robert et al. was filed in the United States District Court for the Southern District of Florida on July 26, 2022, claiming violations of several provisions of the Securities Act and Securities Exchange Act. Specifically, the SEC seeks permanent injunctive relief against all Defendants in order to prevent future