Court OKs $22M Continental Deal In WG Trading Clawback

Law360, New York (August 1, 2011, 6:39 PM ET) -- A federal judge in New York on Monday approved Continental Assurance Co.’s $22 million settlement with the receiver for WG Trading Co., after finding that the initial clawback truce gave short shrift to victims of the $7.6 billion Ponzi scheme.

U.S. District Judge George Daniels signed off on the settlement that requires Continental to hand over exactly half of the $43 million in Ponzi winnings it took from WG Trading, a fraudulent commodities trading and investment advisory business operated by Paul Greenwood and Stephen Walsh until...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Commodity Futures Trading Commission v. Walsh et al


Case Number

1:09-cv-01749

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

George B. Daniels

Date Filed

February 24, 2009

Law Firms

Government Agencies

DEWEY LIVE BLOG

Follow our exclusive coverage of the trial of the year:

Catch up on the Dewey trial here