Mining Co. Trustee Prevails Over Leaders Of $300M Ponzi Scam

Law360, Miami (February 13, 2013, 9:43 PM EST) -- The Chapter 7 trustee of Merendon Mining Inc. on Wednesday was granted judgment against the architects of an alleged $300 million Ponzi scheme run through the company, allowing her to go after the company's Latin American assets.

When the defendants, Milowe Brost and Gary Allen Sorenson, failed to show up to a hearing Wednesday, U.S. Bankruptcy Judge A. Jay Cristol granted trustee Marcia T. Dunn's motion to enter judgment against them and several of their Latin American mining assets in an adversary proceeding she had filed...
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