MetLife, Others Can't Duck Claims Over $228M Ponzi Ties

Law360, Los Angeles (March 7, 2012, 9:14 PM EST) -- A California judge on Wednesday refused to toss negligence claims in several suits alleging Metropolitan Life Insurance Co., New England Securities Corp. and others solicited investors to purchase securities tied to Diversified Lending Group Inc.'s purported $228 million Ponzi scheme, ruling the plaintiffs' claims weren't time-barred.

The decision by Judge Elihu M. Berle comes one day after news that the mastermind behind the scheme — DLG owner Bruce Friedman, 62 — died inside a French prison while fighting extradition to the U.S., according to the Associated...
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