The SEC filed SEC v. Horwitz in the Central District of California on April 5, 2021, alleging that Defendant Horowitz violated federal securities laws in connection with fraudulent promissory notes issued by Horwitz’s company. Specifically, the complaint alleges violations of Sections 17(a) of the Securities Act, 10(b) of the Securities Exchange Act, and 10b-5 of
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New Complaint – Surefire Dividend Capital, LP v. Industrial and Commercial Bank of China Financial Services LLC
Plaintiff Surefire Dividend Capital, LP (“Plaintiff”) filed Surefire Dividend Capital, LP v. Industrial and Commercial Bank of China Financial Services LLC in the Supreme Court of New York for the County of New York on April 15, 2021, claiming at least $46,598,676.84 in money damages, along with its costs and attorneys’ fees. Specifically, the complaint…
New Complaint – Trinh Ngoc Pham v. The Church for the Healthy Self, A/K/A CHS Trust, et al.
Trinh Ngoc Pham v. The Church for the Healthy Self, A/K/A CHS Trust, et al. is a putative class action filed in the Superior Court of California seeking damages related to a church-based investment scheme propped up by Ponzi-type payments.
Plaintiff is an individual who invested into the defendants’ church under the impression that the…
Personal Jurisdiction – An Effective Defense As Illustrated by the Southern District of New York in Dismissing Ponzi Litigation
In a recent decision in Anderjaska v. Bank of America, N.A., et al., the Southern District of New York decided that three national banks were not subject to general jurisdiction in New York for allegedly aiding and abetting a Ponzi scheme.
Anderjaska highlights the utility of procedural mechanisms when defending against Ponzi-related allegations in a…
New Complaint – Elghossain v. Bank of Audi, et al.
Elghossain v. Bank of Audi, et al. was filed in the Southern District of New York on March 11, 2021, claiming that Plaintiffs were victims of a Ponzi scheme within the Lebanese banking system.
Plaintiffs are a married couple—both citizens and residents of the United States. The defendants are two Lebanese banks, Bank Audi and…
New Complaint – SEC v. George S. Blankenbaker, et al.
SEC v. George S. Blankenbaker, et al. was filed in the United States District Court for the Southern District of Indiana on March 31, 2021, seeking a permanent injunction enjoining the defendants from future trading, disgorgement of ill-gotten gains, and civil penalties.…
New Complaint – Peters v. Gallun, et al.
Peters v. Gallun, et al. was filed in the Central District of California on February 18, 2021, claiming civil damages for violations of securities law, breach of contract, and conversion.
Plaintiff is an individual working as a movie producer in California (“Peters”). The defendants are an individual acting as a business manager and equine sales…
New Complaint – EHC Aspen Properties, LLC v. CCUR Holdings, Inc., et al.
EHC Aspen Properties, LLC v. CCUR Holdings, Inc., et al. was filed in the Superior Court of California for Orange County on March 15, 2021, asserting that the Defendants coerced Plaintiff into investing in an aircraft financing Ponzi scheme.
Plaintiff is limited liability company in California managed by Luis Serrano. The defendants are three entities—CCUR…
New Complaint – Ebury Street Capital, LLC, et al. v. McOsker, et al.
Ebury Street Capital, LLC, et al. v. McOsker, et al. was filed in the United States District Court for the District of Delaware on February 12, 2021, claiming civil damages for an alleged $3.5 million Ponzi scheme perpetrated by the defendants.
Plaintiffs are entities in the business of buying tax lien certificates, and defendants are…
New Complaint – Ocean Development Partners, LLC, et al. v. Dmity Deych, et al.
Ocean Development Partners, LLC (MA) and Ocean Development Partners (RI) v. Dmity Deych, et al. was filed in the Superior Court of Suffolk County, Massachusetts on March 11, 2021, seeking damages and equitable relief for federal statutory and state law claims related to the defendants’ purported scheme to defraud the purchasers of certain real estate.…