SEC Wins TRO, Asset Freeze In $50M Ponzi Case

Law360, New York (July 28, 2009, 5:06 PM EDT) -- A federal judge has temporarily barred two Michigan residents accused of running a $50 million Ponzi scheme from using their own assets or those of their real estate investment funds, which the U.S. Securities and Exchange Commission claims defrauded hundreds of elderly investors.

Judge David M. Lawson of the U.S. District Court for the Eastern District of Michigan granted the bulk of the agency's emergency request for a temporary restraining order against John J. Bravata and Richard J. Trabulsy on Monday based on the SEC's claims...
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Case Title

United States Securities and Exchange Commission v. Bravata et al


Case Number

2:09-cv-12950

Court

Michigan Eastern

Nature of Suit

Securities/Commodities

Judge

David M. Lawson

Date Filed

July 26, 2009

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