Sunwest Receiver Goes After Broker Commissions

Law360, New York (April 5, 2010, 5:05 PM EDT) -- The receiver for retirement home operator Sunwest Management Inc. has brought a suit seeking to recover more than $11 million in commissions paid to brokers and dealers during an alleged Ponzi scheme.

Michael A. Grassmueck, the court-appointed receiver for Sunwest and its units in a securities fraud case brought against them by the U.S. Securities and Exchange Commission, lodged the complaint Wednesday in the U.S. District Court for the District of Oregon.

The brokers and dealers received the commissions in exchange for soliciting investors, but their...
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