TITLE

Georgia Banks and Executives Implicated in Ponzi Scheme

AUTHOR(S)
Nemeroff, Evan
PUB. DATE
September 2011
SOURCE
Mortgage Servicing News;Sep2011, Vol. 15 Issue 9, p20
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports on several lawsuits faced by the real estate developer Shi Shailendra for allegedly influencing five banks, four collapsed state banks, and 12 senior banking executives to conspire with him in a 100 million dollar Ponzi scheme in Atlanta, Georgia.
ACCESSION #
65285849

 

Related Articles

  • LITIGATION LESSONS FOR FINANCIAL EXECUTIVES. Hopkins, Sheryl // Financial Executive;Dec2013, Vol. 29 Issue 10, p18 

    The article presents lessons for financial executives about being sued as inferred from three actual cases involving a Ponzi scheme, executive compensation, and embezzlement. The author cites the importance of mounting an aggressive defense that examines the plaintiff's behavior, and the dangers...

  • Sellers of service plan face class-action suit. Harris, Donna // Automotive News;9/1/2003, Vol. 78 Issue 6055, p8 

    Twenty-two people who bought extended service plans covered by insolvent National Warranty Insurance Co. have filed a class-action lawsuit alleging that vendors and other affiliates were involved in a Ponzi scheme. The suit alleges that vendors knew National Warranty couldn't pay claims but...

  • Second Payout Likely In Bentley Financial Services Case. Roberts, Ed // Credit Union Journal;9/8/2003, Vol. 7 Issue 36, p3 

    Reports on the possibility of a second payout for more than 100 credit unions victimized in the Ponzi schemes known as Bentley Financial Services on their principal investments over the next 60 days, as of September 8, 2003. Plans of attorney appointed receiver for the now-defunct brokerage to...

  • Dewey's Davis calls in the spin doctor.  // Lawyer (Online Edition);6/15/2012, p6 

    The article reports that Brandy Bergman, a New York media consultant has been engaged to handle media matters for Steve Davis, the ousted chairman of defunct Dewey & LeBoeuf. Former Dewey partner Henry Bunsow has alleged in a lawsuit that his former boss concocted a Ponzi scheme and...

  • Dewey management accused of 'running Ponzi scheme' in lawsuit brought by ex-partner. Freedman, Joshua // Lawyer (Online Edition);6/14/2012, p9 

    The article reports on a lawsuit brought by Henry Bunsow, a former partner at U.S. firm Dewey & LeBoeuf LLP, in the Superior Court of the State of California in San Francisco, California, alleging the firm's senior management including ex-chairman Steve Davis of running a Ponzi scheme by...

  • Stanford D&O insurers must pay defense costs. Phillips, Zack // Business Insurance;2/1/2010, Vol. 44 Issue 5, p4 

    The article discusses a court case involving R. Allen Stanford and four executives from Stanford Financial Group Co. The Securities and Exchange Commission (SEC) charged the said companies and officials of securities fraud and for allegedly operating the company as a Ponzi scheme. Judge David...

  • Rampant Ponzimonium: A Guide to Surfing the Wave of Ponzi Scheme Litigation. Tsai, Miranda // Bankruptcy Litigation;Jun2009, Vol. 15 Issue 3, p1 

    The article offers information on Ponzi Scheme litigation. Ponzi schemes refer to a type of pyramid schemes started by Charles Ponzi in 1920, in which investors are paid with money from subsequent investors. The proliferation of such schemes is expected to pose the challenge of locating and...

  • Another Islander accused of running a Ponzi scheme. GLASSER, LAURA // Long Island Business News (7/1993 to 5/2009);4/10/2009, Vol. 56 Issue 18, p19A 

    The article reports that Edward Stein, president of Edward T. Stein Associates Ltd., has been charged by the U.S. Securities & Exchange Comission (SEC) for operating $55 million Ponzi scheme. The SEC lawsuit alleges that he took money from his 83 clients. Meanwhile, the attorney's office in...

  • Ponzi Scheme Cases On Deck After Recent Plaintiff Score On 401(k) Fee Case. Sclafane, Susanne // National Underwriter / P&C;12/7/2009, Vol. 113 Issue 46, p14 

    The article reports on the anticipated rise of lawsuits involving 401(k) plans and fiduciary liability insurance related to Ponzi schemes to be triggered by the settlement reached by the Martin v. Caterpillar case. It features the discussion by Chartis Insurance executive Rhonda Prussack on the...

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics