CFTC, SEC Sue Alleged Ponzi Schemer

Law360, New York (January 8, 2009, 12:00 AM EST) -- A Philadelphia-area investment fund manager has been accused by both the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission of orchestrating an estimated $50 million Ponzi scheme.

According to the complaint filed by the SEC on Wednesday in the U.S. District Court for the Eastern District of Pennsylvania, Joseph S. Forte allegedly lured as many as 80 investors to purchase a limited partnership interest in his firm, assuring them he would be putting their money into a fund that would trade in securities...
To view the full article, register now.




Case Information

Case Title

Hjelt v. I-Flow Inc., et al

Case Number




Nature of Suit

Personal Inj. Prod. Liability


Susan R Bolton

Date Filed

January 9, 2009

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.