Ex-Empyrean Exec Can't Appeal Fraud Ruling: 2nd Circ.

Law360, New York (January 9, 2012, 6:05 PM EST) -- The Second Circuit on Monday denied the appeal of an alleged conspirator in the fraud that brought down now-bankrupt MarketXT Holdings Corp., saying that despite several extensions, he had not filed the necessary paperwork on time.

In a summary order, U.S. Circuit Judges Ralph K. Winter and Peter W. Hall said a New York federal court had been within its rights to dismiss Empyrean Investment Fund LP executive Rauf Ashraf's appeal of a decision by a New York bankruptcy court against him for allegedly working with...
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