CPAs Ordered To Pay $2M In Pipeline Ponzi Scheme

Law360, New York (March 23, 2012, 4:12 PM EDT) -- A pair of New York accountants, one of whom is in federal prison, must pay back ill-gotten gains from a $2 million Ponzi scheme centered on an inoperative natural gas pipeline, a federal judge ruled Thursday.

Laurence M. Brown and Ronald J. Mangini, onetime principals of the Armonk, N.Y.-based Marshall Granger and Co. accounting firm, respectively owe $2.1 million and $512,000 under the summary judgment granted by Judge Miriam G. Cedarbaum.

Brown, who is serving a five-year sentence in a Pennsylvania federal prison for his part...
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Case Title

Securities and Exchange Commission v. Brown et al


Case Number

1:10-cv-05564

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Miriam Goldman Cedarbaum

Date Filed

July 22, 2010

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