Alleged $16M Ponzi Schemer Stinson's Assets Frozen

Law360, New York (June 30, 2010, 2:12 PM EDT) -- A federal judge has temporarily frozen the assets of Pennsylvania investment manager Robert Stinson Jr. in the wake of allegations from the U.S. Securities and Exchange Commission that he ran a $16 million Ponzi scheme based on bogus real estate investments.

Judge Berle M. Schiller granted the SEC's emergency motion for a temporary restraining order against Stinson on Tuesday, the same day the agency lodged a complaint against Stinson and his financial entities in the U.S. District Court for the Eastern District of Pennsylvania.

The three-count...
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