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Class Certified In Case Alleging $50M Ponzi Scheme

Law360 (October 28, 2008, 12:00 AM EDT) -- The federal judge overseeing a securities suit against MRT Holdings LLC has certified a class of investors who claim they were victimized in a $50 million Ponzi scheme related to foreign currency futures trading.

Judge James Cohn of the U.S. District Court for the Southern District of Florida signed off on a 12-page order granting the plaintiffs' bid for class certification on Friday.

The class – which could contain 600-1,200 members, according to the plaintiffs – comprises all purchasers who bought investment contracts with MRT LLC...
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