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...
To view the full article, register now.

Documents

Related

Sections

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

Law Firms

Government Agencies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.