News & Analysis as of

Ponzi Scheme Banking Sector

McGuireWoods LLP

Ponzi Perspectives: 2024 Year-End Roundup

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McGuireWoods’ Ponzi Litigation team launched its Ponzi Perspectives blog in early 2021. Throughout the past four years, we’ve tracked and posted case alerts on Ponzi-related complaints filed in federal and state courts...more

Troutman Pepper Locke

Deposit Account Litigation: Highlights From 2024 and What to Expect in 2025 — The Consumer Finance Podcast

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In this episode of The Consumer Finance Podcast, Chris Willis is joined by Mary Zinsner and Heryka Knoespel, partners in Troutman Pepper Locke’s Consumer Financial Services Practice Group, to discuss the latest in deposit...more

Wiley Rein LLP

Lending Exclusion in Bankers Professional Liability Policy Bars Coverage For Claim Alleging Financing a Ponzi Scheme

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The United States District Court for the Central District of California, applying California law, has held that a lending exclusion in a bankers professional liability policy barred coverage for underlying lawsuits alleging...more

King & Spalding

Sixth Circuit Holds that Bank Settlement Payment to Resolve Fraudulent Transfer Liability Is Insurable Loss Under Ohio Law and...

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On February 1, 2024, the U.S. Court of Appeals for the Sixth Circuit, in an unpublished opinion, held that a bank’s professional liability insurance includes coverage for a $32 million settlement payment the bank made to...more

Goodwin

Eleventh Circuit Overturns Dismissal of Cryptocurrency Ponzi Scheme Class Action Suit

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IN THIS ISSUE - Eleventh Circuit Overturns Dismissal of Cryptocurrency Ponzi Scheme Class Action Suit; Federal Court of Appeals Dismisses Leading Fannie Mae and Freddie Mac Shareholder Lawsuits; NY Seeks Blockchain...more

McGuireWoods LLP

11th Circuit Curtails Receivers’ Ability to Bring Ponzi Scheme-Related Claims Against Banks

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On June 1, 2020, the U.S. Court of Appeals for the 11th Circuit issued Isaiah v. JPMorgan Chase Bank, N.A., a precedential opinion that draws sharp limits on court-appointed receivers’ ability to bring claims against...more

The Volkov Law Group

Cryptocurrencies, Blockchain and Ponzi Schemes

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When you read and learn about cryptocurrencies (e.g. Bitcoin, Ripple, Ethereum), there are some commentators, politicians and others who characterize cryptocurrencies as a “Ponzi” scheme....more

Stinson - Corporate & Securities Law Blog

CFTC Files Its First Anti-Fraud Enforcement Action Involving Bitcoin

The CFTC filed a federal civil enforcement action in the U.S. District Court for the Southern District of New York against Defendants Nicholas Gelfman, of Brooklyn, New York, and Gelfman Blueprint, Inc. (GBI), a New York...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Uber has picked a new CEO. Word emerged late yesterday that the board selected current Expedia chief Dara Khosrowshahi to take the helm. Khosrowshahi beat out high-powered execs like Jeff Immelt and Meg Whitman in assuming...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Even as the administration is mulling over withdrawing from the Paris Climate Accord, Exxon Mobil’s shareholders have voted to demand a more detailed accounting of the climate change policy risks facing the company—an...more

Robins Kaplan LLP

Your daily dose of financial news - The Brief – 9.21.16

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Testifying before the Senate Banking Committee yesterday, Wells Fargo CEO John Stumpf admitted that the illegal sham-account-creation activity at the heart of its recent SEC fine may have begun earlier than first reported....more

Robins Kaplan LLP

Your daily dose of financial news - The Brief – 9.13.16

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In a closely watched and dissected speech yesterday, Federal Reserve governor Lael Brainard told the crowd gathered at the Chicago Council on Global Affairs that she favored “prudence” in raising rates despite recent signs of...more

Robins Kaplan LLP

Your daily dose of financial news The Brief – 2.8.16

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Friday’s jobs report was disappointing as compared to the month earlier, but it contained news of a half a percentage point increase in average hourly earnings that pleased some economists who have been worrying about...more

Katten Muchin Rosenman LLP

Bridging the Week - April 2015 #2

IOSCO Seeks Views on Business Continuity and Recovery Planning by Trading Venues and Intermediaries; NYS Warns on Third-Party Service Providers - The International Organization of Securities Commissions issued two...more

Dorsey & Whitney LLP

This Week In Securities Litigation (The week ending January 10, 2014)

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The insider trading trial of former SAC Capital official Matthew Martoma opened this week in Manhattan with jury selection. The SEC announced the resignation of George Canellos, Co-director of the Division of Enforcement....more

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