Court OKs $22M Continental Deal In WG Trading Clawback

Law360, New York (August 1, 2011, 6:39 PM EDT) -- A federal judge in New York on Monday approved Continental Assurance Co.’s $22 million settlement with the receiver for WG Trading Co., after finding that the initial clawback truce gave short shrift to victims of the $7.6 billion Ponzi scheme.

U.S. District Judge George Daniels signed off on the settlement that requires Continental to hand over exactly half of the $43 million in Ponzi winnings it took from WG Trading, a fraudulent commodities trading and investment advisory business operated by Paul Greenwood and Stephen Walsh until...
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Case Information

Case Title

Commodity Futures Trading Commission v. Walsh et al

Case Number



New York Southern

Nature of Suit



George B. Daniels

Date Filed

February 25, 2009

Law Firms

Government Agencies

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