Defunct Escrow Co. Inks Settlement In Japanese Ponzi Suit

Law360, New York (May 18, 2017, 7:15 PM EDT) -- A shuttered escrow agent has tentatively reached an $800,000 settlement with a class of Japanese investors who have accused the firm of participating in an elaborate Ponzi scheme involving phony medical debt investments, according to documents filed in Nevada federal court on Wednesday.

Nevada-based LVT Inc. — which did business under the name Sterling Escrow — asked the court to sign off on the proposed settlement, which would release the company from a securities fraud class action filed against Las Vegas businessman Edwin Y. Fujinaga, his...
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