Carr Miller Receiver Hits Firm's Ex-GC With $31M Suit

Law360, New York (September 10, 2012, 7:03 PM EDT) -- The receiver for Carr Miller Capital LLC — a New Jersey investment firm that allegedly defrauded investors of nearly $42 million — has filed suit against the firm's onetime general counsel for more than $31 million, accusing the attorney of malpractice and negligence.

Court-appointed receiver Michael P. Pompeo contends that Hercules Pappas should have known, and failed to advise CMC, that promissory notes sold to investors had to be registered and that the firm's agents needed to be licensed to sell those notes. Pompeo also wants...
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