11th Circ. Revives Hedge Fund CFO's Quest For Assets

Law360 (October 19, 2020, 9:31 PM EDT) -- An Eleventh Circuit panel vacated and remanded a decision by a Georgia judge who the panel said had denied due process to the chief financial officer of a wealth management company whose CEO defrauded investors out of more than $24 million.

The three-judge panel said U.S. District Judge Eleanor L. Ross was wrong when she allowed the receiver in charge of recovering and securing assets belonging to Angelo Alleca and Summit Wealth Management Inc. to not pay a $225,000 promissory note to Carrie Mistina, Summit's chief financial officer.

"We agree that Mistina was denied due process, so we vacate and remand...

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