McGuireWoods’ Ponzi Litigation team launched its Ponzi Perspectives blog in early 2021. Since that time, our focus is to track key cases and decisions that have the potential to influence controlling law on Ponzi-related issues. The blog also offers analysis on practical considerations when defending Ponzi litigation. This 2022 mid-year round up summarizes the new cases and opinions analyzed throughout the first half of the year and highlights the trends that may serve as “coming attractions” of what to expect in the latter half of 2022.
2022 Ponzi Litigation Included Significant SEC Enforcement, Facilitation Claims Against Financial Institutions, and Real Estate and Retirement Schemes.
Throughout the first half of the year, McGuireWoods summarized over 17 complaints filed in federal and state courts across the country, including 9 federal district courts and 8 state courts cases.
Case summaries have included significant SEC enforcement actions, which often also spurred civil litigation filed by defrauded investors. Some of the schemes involving SEC litigation so far this year include:
- Freitag, as Receiver for ANI Development, LLC v. Dean Libs, et al.: Scheme stemming from a prior action filed by the SEC, a scheme involving fraudulent liquor license loans that raised $390 million from 435 investors.
- SEC v. David J. Bunevacz et al.: Scheme that tricked investors into believing they were investing in profitable sales of “vape” pens infused with Cannabidiol…
