NY Ex-Wife To Keep Ponzi Money In Good Faith Transfer

Law360, New York (June 24, 2011, 8:21 PM EDT) -- An opinion issued Thursday by New York state's highest appeals court gave the wealthy ex-wives of alleged Ponzi schemers something to cheer about.

The opinion effectively bars the federal government from going after Janet Schaberg, the ex-wife of accused Ponzi schemer Stephen Walsh, for some of the millions of dollars she was supposed to receive in their 2007 divorce. The government wanted to use the money to compensate victims of the alleged fraud.

While it is likely to apply only to a limited number of cases,...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.