Investors Claim Mantria Perpetrated Green Ponzi Scheme

Law360, New York (November 17, 2011, 4:53 PM EST) -- A group of investors hit affiliates of green investment company Mantria Corp. with a class action Tuesday in Colorado federal court over an alleged $54 million Ponzi scheme that primarily targeted elderly citizens and new retirees.

Lead plaintiff Touchstone Group LLC, an investment advisory firm that invested $235,000 in Mantria between August and December 2008, sued Mantria executives, attorneys, accountants and other affiliates for allegedly participating in and profiting from the alleged Ponzi scheme.

The affiliates are accused of serving as executives, funneling money and preparing...
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