Peregrine Got $48M Ponzi Loot, Crown Forex Receiver Says

Law360, New York (February 2, 2012, 1:16 PM EST) -- The Minneapolis receiver recovering money from a $190 million Ponzi scheme run by jailed Crown Forex SA principal Trevor Cook sued Peregrine Financial Group Inc. on Wednesday, claiming Peregrine managers ignored red flags as Cook and his cohorts sent them $48 million.

Receiver R.J. Zayed, a veteran litigator at Carlson Caspers Vandenburgh & Lindquist, filed a nine-count complaint against Chicago-based Peregrine that seeks recovery and interest under Minnesota's fraudulent transfer law.

"The Ponzi principals ultimately lost more than $30 million in trading accounts at [Peregrine] that defendant permitted Cook to open, maintain and manage in the face of overwhelming red flags...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Attached Documents

Related Sections

Case Information

Case Title

Subscribers Only

Case Number

Subscribers Only

Court

Subscribers Only

Nature of Suit

Subscribers Only

Judge

Subscribers Only

Date Filed

Subscribers Only

Law Firms

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!