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...
To view the full article, register now.




Case Information

Case Title

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

Case Number




Nature of Suit



Susan Richard Nelson

Date Filed

April 22, 2011

Law Firms

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.