WG Can't Claw Back $12M From Ponzi Plot: Neb. Fund Atty

Law360, New York (September 25, 2012, 6:12 PM EDT) -- An attorney for Nebraska's state pension fund told a New York state judge Tuesday that WG Trading Investors LP's receiver had waited too long to try to claw back $12 million the fund allegedly made off of WG executives' Ponzi scheme.

Timothy R. Engler of Harding & Shultz PC LLO, who represents the Nebraska Investment Council, told Judge Barbara R. Kapnick during a hearing Tuesday that since the receiver essentially "steps into the shoes" of the defunct Connecticut-based trading firm, under New York's borrowing statute, the...
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