February 07, 2013
The trustee for defunct Provident Royalties LLC and brokerages that sold securities as part of Provident's alleged $485 million Ponzi scheme have settled a suit brought by creditors seeking to recoup $13.1 million in broker fees, according to a Texas federal court order Wednesday.
November 19, 2012
A Texas federal judge on Monday said he's "reluctant" to award summary judgment to creditors for defunct Provident Royalties LLC who want to recoup about $13.1 million in fees from 15 broker-dealers who sold securities as part of the company's alleged $485 million Ponzi scheme.