UBS Touted Fraudulent Medicore Investments: Atty

Law360, New York (March 10, 2011, 8:17 PM EST) -- UBS AG knew that bankrupt medical device manufacturer Medicor Ltd. was being propped up with fraudulent investments by its chairman even as it touted those same investments to a private equity firm, an attorney told a New York appeals court Thursday.

Medicor Chairman Donald K. McGhan was operating a Ponzi scheme and funneling the ill-gotten funds into Medicor, Mark Landau of Kaplan Landau LLP, an attorney for Silver Oak Capital LLC, told a five-judge panel of the Supreme Court of the State of New York, Appellate...
To view the full article, register now.

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.