UBS Touted Fraudulent Medicore Investments: Atty

Law360, New York (March 10, 2011, 8:17 PM EST) -- UBS AG knew that bankrupt medical device manufacturer Medicor Ltd. was being propped up with fraudulent investments by its chairman even as it touted those same investments to a private equity firm, an attorney told a New York appeals court Thursday.

Medicor Chairman Donald K. McGhan was operating a Ponzi scheme and funneling the ill-gotten funds into Medicor, Mark Landau of Kaplan Landau LLP, an attorney for Silver Oak Capital LLC, told a five-judge panel of the Supreme Court of the State of New York, Appellate...
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