Former DBSI Brass Deny Ponzi Scheme Charges

Law360, New York (May 21, 2013, 1:37 PM EDT) -- The former general counsel and two executives of bankrupt DBSI Inc. pled not guilty to fraud charges in Idaho federal court Monday, following accusations that they were running a Ponzi scheme under the guise of a supposedly profitable real estate investment company.

Mark A. Ellison, David D. Swenson and Jeremy Snow Swenson denied the government's charges of conspiracy to commit securities fraud, wire fraud, mail fraud, bank fraud, interstate transportation of stolen property and money laundering arising out of the collapse of DBSI, which filed for...
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