On July 20, 2015, the Central District entered summary judgment on all claims asserted by the United States Securities & Exchange Commission against our client. The SEC contended that our client — himself a victim of a Ponzi scheme — was responsible for repaying over $1 million in withdraws and interstate that the Ponzi schemer had persuaded another victim to withdraw so the Ponzi schemer could repay our client ( and cover up the scheme for a longer time). The SEC claimed that the money from the trust was a windfall or a gift from the trust. BNS showed that the Ponzi schemer had acquired the money and that our client was merely receiving the return from his investment.
BNS Wins Summary Judgment Against the SEC
Aug 10, 2015