Crown Forex Investors Can't Shake Receiver Actions

Law360, New York (June 2, 2011, 1:32 PM EDT) -- A Minnesota federal judge cleared the way Wednesday for the receiver salvaging funds for victims of the Crown Forex SA Ponzi scheme to go after numerous investors who cashed out of a scheme that cost other participants $158 million.

The court adopted the magistrate judge’s report and recommendation, brushing aside claims that the receiver lacks standing to pursue the 15 summary proceedings or is required to launch civil suits to preserve the respondents’ due process rights.

Court-appointed receiver R.J. Zayed is seeking to recover assets from...
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Case Information

Case Title

R.J. Zayed, et al. v. Buysse et al.


Case Number

0:11-cv-01042

Court

Minnesota

Nature of Suit

Securities/Commodities

Judge

Susan Richard Nelson

Date Filed

April 22, 2011

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