NY Judge Holds Ponzi Schemer Misled Insurer, OKs Discovery

Law360, New York (March 20, 2014, 5:59 PM EDT) -- A New York federal judge on Thursday held that an accounting firm tied to a $2 million Ponzi scheme made serious misrepresentations in its application for insurance from Continental Casualty Co., while allowing discovery into whether Continental promptly tried to rescind the policy.

Continental had little trouble persuading U.S. District Judge Cathy Seibel that former Marshall Granger & Co. LLP executive Laurence Brown made significant misrepresentations on the accounting firm's insurance application, which he submitted while perpetrating a securities fraud on Marshall's clients.

“Common sense dictates that it is simply impossible to believe that, had the full facts regarding Brown’s fraudulent...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Attached Documents

Related Sections

Case Information

Case Title

Subscribers Only

Case Number

Subscribers Only

Court

Subscribers Only

Nature of Suit

Subscribers Only

Judge

Subscribers Only

Date Filed

Subscribers Only

Law Firms

Companies

Government Agencies

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!