Atty Tied To $8.5M Ponzi Scheme Sanctioned In Insurer's Suit

Law360, New York (September 13, 2013, 5:16 PM EDT) -- A New Jersey federal judge on Thursday sanctioned the former managing partner of a Philadelphia law firm for evading a deposition, nixing the attorney's answer and remaining counterclaim against professional liability carrier Colony Insurance Co. in litigation with roots in an alleged $8.5 million Ponzi scheme.

U.S. District Judge Noel Hillman threw out former Kwasnik Kanowitz & Associates PC managing partner Michael Kwasnik's claim that Colony breached the insurance contract — the only counterclaim that remained standing after a December ruling gutted Kwasnik's case against the...
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