Insurer Reaches Settlement Over Crown Forex FINRA Claims

Law360, New York (June 18, 2012, 5:36 PM EDT) -- The insurer for convicted Crown Forex SA fraudster Jason Bo-Alan Beckman on Monday agreed to pay $400,000 to settle Financial Industry Regulatory Authority claims made by investors who lost money in connection with his Ponzi scheme.

Everest Indemnity Insurance Co. will pay $282,500 to the investors and $117,500 to the receiver in charge of Beckman’s estate, according to an order signed by U.S. District Judge Michael J. Davis.

A Minnesota federal jury last week found Beckman and two others guilty of helping Crown Forex principal Trevor...
To view the full article, register now.

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.