Investors Can't Revise Distribution For $15M Farm Loan Scam

Law360, New York (February 16, 2017, 7:33 PM EST) -- An Indiana federal judge on Thursday backed a receiver’s plan to distribute recovered funds to investors allegedly misled about an asset manager’s use of $15 million in farm loans, denying a group’s plan to split the investors into different tiers for recovery.

U.S. District Judge Jane Magnus-Stinson refused an investor group’s attempt to shake up a court-appointed receiver’s plan to distribute Veros Partners Inc.’s allegedly ill-gotten gains, finding the original plan to treat all investors from different offerings equally works best in this case.

“While there...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

SECURITIES AND EXCHANGE COMMISSION v. VEROS PARTNERS, INC et al


Case Number

1:15-cv-00659

Court

Indiana Southern

Nature of Suit

850(Securities/Commodities)

Judge

Judge Jane Magnus-Stinson

Date Filed

April 22, 2015

Government Agencies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.