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




Case Information

Case Title

Securities and Exchange Commission v. Brown et al

Case Number



New York Southern

Nature of Suit



Miriam Goldman Cedarbaum

Date Filed

July 22, 2010

Law Firms


Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.