Receiver Appointed In SEC's $50M Bravata Ponzi Suit

Law360, New York (September 3, 2009, 1:18 PM EDT) -- A federal judge has appointed a receiver to take over real estate investment funds controlled by John J. Bravata and Richard J. Trabulsy, two Michigan residents who allegedly ran a $50 million Ponzi scheme, as part of a fraud suit filed by the U.S. Securities and Exchange Commission.

On Wednesday, Judge David M. Lawson of the U.S. District Court for the District of Michigan appointed Earle I. Erman, of the Michigan law firm Erman Teicher Miller Zucker & Freedman PC, to take control of Bravata Financial...
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