Law360 (April 13, 2011, 2:51 PM EDT) -- A Texas federal judge on Wednesday allowed aiding and abetting claims to move forward against two trading companies and brokers who allegedly helped a Texas man operate a $70 million Ponzi scheme.
Judge Michael H. Schneider of the U.S. District Court for the Eastern District of Texas issued a one-page ruling denying SLI Trade LLC and Rosenthal Collins Group LLC's motions to dismiss aiding and abetting claims filed by individual investors in a commodity pool scheme.
Plaintiffs' counsel Louis F. Burke declined to comment. Counsel for...
Brokers, Traders On Hook In $70M Texas Ponzi Scheme
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