Crown Forex Ponzi Investors Want Fraud Claims Nixed

Law360, New York (December 22, 2011, 6:41 PM EST) -- Lenders being sued for cashing out in a Crown Forex SA principal's Ponzi scheme that cost other investors $158 million argued Wednesday that the claims against them ought to be tossed, saying they had no part in any fraudulent activity that occurred.

Eighteen lenders filed a motion for summary judgment in a Minnesota federal court, seeking dismissal of court-appointed receiver R.J. Zayed's allegations of fraudulent transfer and unjust enrichment in connection to Crown Forex principal Trevor Cook's scheme.

Zayed filed a motion for summary judgment Wednesday...
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Case Information

Case Title

R.J. Zayed, et al. v. Buysse et al.


Case Number

0:11-cv-01042

Court

Minnesota

Nature of Suit

Securities/Commodities

Judge

Susan Richard Nelson

Date Filed

April 22, 2011

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