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VesCor Receiver Sues For $26M In Ponzi Profits

Law360 (April 21, 2009, 12:00 AM EDT) -- The court-appointed receiver in the securities fraud case against real estate company VesCor Capital Corp. over an alleged $180 million Ponzi scheme is seeking to recover $26 million from a developer who sold property to VesCor's former owner.

Robert G. Wing filed suit on Monday in the U.S. District Court for the District of Utah to recover the funds from Harrison H. Horn, trustee of the Horn Irrevocable Trust, who allegedly profited from the scheme when he sold VesCor land near Park City, Utah.

“Because the...
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