Judge Orders Forfeiture For Fla. Ponzi Schemer

Law360, New York (October 8, 2010, 3:06 PM EDT) -- A federal judge has ordered Florida investment adviser David Merrick to forfeit homes, cars and more than $4 million as part of a plea deal in what the government says was a Ponzi scheme that defrauded thousands of investors.

Judge Mary S. Scriven of the U.S. District Court for the Middle District of Florida on Wednesday issued a preliminary order of forfeiture indicating that Merrick would have to turn over at least about $4 million held in financial accounts, $500,000 in cash, two new Acura automobiles,...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

USA v. Merrick


Case Number

6:10-cr-00109

Court

Florida Middle

Nature of Suit

Date Filed

April 29, 2010

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.