WG Trading Receiver Pushes $22M Continental Deal

Law360, New York (July 8, 2011, 12:41 PM EDT) -- The receiver recovering funds for victims of WG Trading Co.’s $7.6 billion Ponzi scheme floated a new $22 million settlement with Continental Assurance Co. on Thursday in New York, after regulators denounced the leniency of an initial deal.

Robb Evans & Associates LLC submitted a modified clawback settlement with Continental that promises a much greater return, exactly half of the $43 million in Ponzi winnings the investor received from WG Trading, a fraudulent commodities trading and investment advisory business run by Paul Greenwood and Stephen Walsh...
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