Wavetronix Asks To Name DBSI Trustee In RICO Suit

Law360, Wilmington (July 31, 2012, 11:17 PM EDT) -- A traffic-data company that launched an Idaho action against DBSI Inc. officers asked a Delaware bankruptcy judge Tuesday for permission to add the bankrupt firm's liquidating trustee to the RICO suit so it can sue him in his court-appointed role.

Wavetronix LLC received more than $21 million in funding from DBSI before the investment firm sought court protection in Delaware, where a bankruptcy examiner subsequently concluded that DBSI management had conducted a massive Ponzi scheme that defrauded investors of some $500 million.

Wavetronix's complaint, filed May...
To view the full article, register now.