Judge 'Reluctantly' OKs Ponzi Scheme Investor Deals

Law360, New York (December 16, 2009, 2:42 PM EST) -- A federal judge has "reluctantly" signed off on orders requiring two early investors in an $80 million Ponzi scheme to return the roughly $220,000 in profits they received, but none of the principal funds they also recovered, as federal regulators vowed to oppose the receiver's bid for further disgorgement.

Judge Paul Diamond of the U.S. District Court for the Eastern District of Pennsylvania approved the two consent decrees on Tuesday based on the receiver's argument that fighting the U.S. Securities Exchange Commission and Commodity Futures Trading...
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