Wavetronix Asks To Name DBSI Trustee In RICO Suit

Law360, Wilmington (July 31, 2012, 11:17 PM EDT) -- A traffic-data company that launched an Idaho action against DBSI Inc. officers asked a Delaware bankruptcy judge Tuesday for permission to add the bankrupt firm's liquidating trustee to the RICO suit so it can sue him in his court-appointed role.

Wavetronix LLC received more than $21 million in funding from DBSI before the investment firm sought court protection in Delaware, where a bankruptcy examiner subsequently concluded that DBSI management had conducted a massive Ponzi scheme that defrauded investors of some $500 million.

Wavetronix's complaint, filed May...
To view the full article, register now.




Case Information

Case Title

Wavetronix, LLC et al v. Swenson et al

Case Number




Nature of Suit

Contract: Other


Marsha J Pechman

Date Filed

May 17, 2012

Law Firms

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.