Silicon Valley Law Group Fights Class Cert. In Okun Suit

Law360, New York (July 5, 2011, 5:25 PM EDT) -- Silicon Valley Law Group on Tuesday asked a California federal judge to deny class certification in a suit alleging that it aided and abetted convicted Ponzi schemer Edward H. Okun as he bankrupted exchange fund The 1031 Tax Group LLC.

The plaintiffs say the firm and a slew of other defendants, including Citibank NA and Bank of America Corp., turned a blind eye to Okun's practice of unlawfully borrowing from 1031 tax funds in exchange for fees and commissions they received for keeping him as a...
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