Silver Oak Says UBS Played Dumb On MediCor Ponzi Plot

Law360, New York (November 23, 2011, 4:42 PM EST) -- Private equity firm Silver Oak Capital LLC accused two UBS AG affiliates in New York state court Tuesday of using "legerdemain and legal mumbo-jumbo" to wash their hands of knowledge of a Ponzi investment scheme that destroyed medical device manufacturer MediCor Ltd.

Silver Oak alleged in papers filed with the court that UBS affiliate UBS Financial Services Inc. played a central role in the Ponzi scheme by MediCor's chairman and concealed its knowledge from the private equity firm, which ultimately lost its $50 million investment in...
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