NRP Settles Suit Over Rep's Crown Forex Ponzi Role For $1M

Law360, New York (March 9, 2012, 8:23 PM EST) -- Brokerage NRP Financial Inc. agreed Friday to pay $1 million to the receiver cleaning up after Crown Forex SA's $190 million Ponzi scheme, settling claims it should have known an NRP registered representative was funneling money into the scheme.

Receiver R.J. Zayed, who is a litigator at Carlson Caspers Vandenburgh & Lindquist, asked the court to approve the settlement with NRP, resolving claims related to former NRP rep Jason Bo-Alan Beckman, who also faces criminal charges in connection with the alleged fraud.

Zayed alleged in a...
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