DBSI Trustee Sues 6 Brokers Over $500M Ponzi Scheme

Law360, New York (July 15, 2011, 2:50 PM EDT) -- A trustee seeking recovery for investors in defunct real estate investment firm DBSI Inc. sued six securities brokerage firms in Delaware on Thursday alleging they were complicit in a $500 million Ponzi scheme that landed the company in bankruptcy court.

James R. Zazzali, a trustee representing the interest of DBSI creditors, lodged the suit against companies including Berthel Fisher & Co. Financial Services Inc., DeWaay Financial Network LLC, Independent Financial Group LLC, G.A. Repple & Co., Girard Securities Inc. and J.P. Turner & Co. LLC....
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Case Information

Case Title

Zazzali v. Berthel Fisher & Company Financial Services Inc. et al


Case Number

1:11-cv-00625

Court

Delaware

Nature of Suit

Securities/Commodities

Judge

Gregory M. Sleet

Date Filed

July 14, 2011

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