Investors In Texas Ponzi Scheme To Pay Back Profits

Law360, New York (April 15, 2009, 12:00 AM EDT) -- The court-appointed receiver overseeing the recovery of assets from a Texas hedge fund manager accused of running a multimillion-dollar Ponzi scheme has reached a settlement with two investors who profited from the scam.

Receiver Robert B. Wilson filed a motion in the U.S. District Court for the Northern District of Texas on Tuesday seeking approval of the agreement, which will see Joseph and Nancy Sliva return $81,000 of the $114,000 they earned in investing with disgraced fund manager Rod Cameron Stringer.

Stringer is facing charges by...
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