Businessman Found Liable In $17M Ponzi Scheme

Law360, New York (June 21, 2011, 3:45 PM EDT) -- Would-be real estate impresario Robert Stinson Jr., facing criminal and civil accusations for an alleged $17 million Ponzi scheme, was found liable in the civil matter Tuesday by a Pennsylvania federal judge who labeled him a career fraudster.

Stinson and his six-corporation Life’s Good Funds empire failed to contest the U.S. Securities and Exchange Commission's motion for summary judgment on liability, U.S. District Judge Berle M. Schiller ruled. The ruling leaves Stinson on the hook for disgorgement of ill-gotten gains, interest and potential civil penalties....
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