Lawmakers Press for Answers on Allen Stanford Ponzi Cleanup
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Houston Judge Rejects Tenth Circuit Opinion Immunizing Subsequent Transferees
Proceeds from fraudulently transferred property can be recovered from subsequent transferees, Judge Rodriguez says, differing with the Tenth Circuit’s Generation Resources opinion.
Fraud-Detection Startup NS8 Files for Bankruptcy, Paving Way for Litigation
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Goldman to Pay $3 Billion, Claw Back Executive Pay over Role in 1MDB Corruption Scandal
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Bribery Probe into a Nuclear Plant Bailout Examines Facilities’ Owner
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Ex-‘Arsenio Hall Show’ Musical Director Sentenced to over 2 Years in Prison for Embezzling Nearly $1 Million Intended for Charity Concert
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Fifth Circuit Again Says: No ‘Futility Defense’ Under the Texas UFTA
Following the answer by the Texas Supreme Court to a certified question, the Fifth Circuit again rules that an inability to discover fraud won’t absolve a transferee from the duty to investigate suspicions of fraud.
Court:
Eleventh Circuit Reads Husky Narrowly, Perhaps Too Narrowly
Reading Husky narrowly, the Eleventh Circuit requires that fraud occur before a debt arises to make the debt nondischargeable under Section 523(a)(2)(A).
Court:
Second Circuit Upholds the Madoff Trustee’s Calculation of Fraudulent Transfer Claims
Fictitious profits in account statements don’t represent ‘value’ and give rise to a defense for receipt of a fraudulent transfer with ‘actual intent,’ the Second Circuit rules.
Court:
American Consumers Have Lost $145 Million to Coronavirus Fraud
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