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...
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