SEC Puts Stop To Personal Injury Suit Ponzi Scheme

Law360, New York (December 9, 2009, 4:03 PM EST) -- The U.S. Securities and Exchange Commission has frozen assets tied up in a Ponzi scheme carried out by a company that allegedly bilked investors of at least $11 million by falsely telling them their money would be used to purchase interests in personal injury lawsuit settlements.

The firm, New York-based Rockford Funding Group LLC, solicited funds from more than 200 investors in 41 states and Canada by touting itself as a leading private equity firm with an $800 million pipeline of investments, the SEC alleged in...
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