SEC's Case Against Petters Feeder Fund Heads For Jury

Law360, New York (October 8, 2013, 5:48 PM EDT) -- A Minnesota federal judge on Tuesday declined cross-bids for judgment in the U.S. Securities and Exchange Commission's action against a hedge fund owner who allegedly funneled hundreds of millions into Thomas Petters' $3.5 billion Ponzi scheme, saying it’s up to a jury to sort out the facts.

U.S. District Judge Ann D. Montgomery refused to back the SEC’s contention that marketing and offering materials given to investors who bought interests in Marlon Quan’s various hedge funds and descriptions of lockbox accounts were fraudulent, finding there were...
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Case Information

Case Title

United States Securities and Exchange Commission v. Quan et al


Case Number

0:11-cv-00723

Court

Minnesota

Nature of Suit

Securities/Commodities

Judge

Ann D. Montgomery

Date Filed

March 24, 2011

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