December 08, 2017
A California federal judge on Thursday signed off on a tax lawyer's $11.7 million disgorgement agreement for a scheme in which he raised money from investors to finance class actions, while not disclosing the risks of the suits and using many of the proceeds for personal use and to make Ponzi-like payments to earlier investors.
April 15, 2016
Securities regulators hit a tax lawyer, his litigation-funding and marketing business, and his former business partner Friday with a suit in California federal court alleging they raised $11.7 million from 250 investors to finance class actions but instead used the booty to pay personal income taxes, buy a condo and make Ponzi payments to backers.