Ponzi Perspectives

Notable litigation filed during January 2024 includes: (1) Bajuri v. Shiba Prop, LLC, et al. and (2) SEC v. Lee, et al.

Bajuri v. Shiba Prop, LLC, et al., No. 24-cv-00419 (Kan. Dist. Ct.).

A Ponzi victim filed suit against defendant schemers in the District Court of Johnson County, Kansas for losses arising from an

Notable litigation filed during October 2023 includes: California Land Acquisition and Development Inc. v. Eran Drori, et al.  Additionally, cryptocurrency and the potential for fraud surrounding the increasingly popular industry were on display during the month of October with the trial and conviction of Sam Bankman-Fried, founder of the cryptocurrency exchange company FTX.

September was an active month for Ponzi litigation with nearly a dozen new complaints filed alleging fraudulent investment activity. The SEC continues to drive Ponzi-related litigation; in addition to four enforcement actions brought last month, previous SEC litigation precipitated several complaints filed by investors and court-appointed receivers. Consistent with the trends discussed in Ponzi Perspective’s

Since 2021, McGuireWoods’ Ponzi Litigation team has been tracking and posting case alerts on Ponzi-related complaints filed in federal and state courts throughout the country and analyzed key decisions that have the potential to influence controlling law on Ponzi-related issues. The blog also posts practical considerations like effective defenses to dismiss Ponzi litigation and common

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. Wash.)

Ponzi victims filed suit against

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 run through a purported toy