Receiver Seeks $238M In Illarramendi Ponzi Scheme Suit

Law360, New York (February 6, 2012, 6:14 PM EST) -- A court-appointed receiver on Friday sought to recoup more than $238 million in bribes and fraudulent payments in connection with a five-year Ponzi scheme run by a Connecticut hedge fund adviser through his Highview Point Partners LLC fund.

Francisco Illarramendi admitted in March to using his hedge funds, Highview and Michael Kenwood Capital Management LLC, to operate a scheme that led to more than $300 million in losses to investors, according to court documents.

In the largest of the Friday suits, receiver John J. Carney seeks...
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Case Information

Case Title

Carney v. Marin et al


Case Number

3:12-cv-00181

Court

Connecticut

Nature of Suit

Securities/Commodities

Judge

Stefan R. Underhill

Date Filed

February 2, 2012

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