Crisis Legal NewsClick here to add this website to your favorites
  rss
Crisis News Search >>>

Court-appointed receiver recovers $312 million

Court News     updated  2013/03/04 11:33


Hundreds of millions of dollars have been recovered so far in a massive North Carolina-based Ponzi scheme that authorities say attracted more than 1 million investors.

The case involves Rex Venture Group, which operated several online projects. The Securities and Exchange Commission froze the company's assets in August.

Court-appointed receiver Kenneth Bell has filed a document in federal court in Charlotte detailing his expenses. As of Dec. 31, Bell says he has recovered $312 million and has incurred $1.6 million in fees and services for the investigation.

The SEC says the company, operated by Paul Burks of Lexington, ran a $600 million Ponzi scam, where money from new investors is used to pay out old ones.

Burks is paying a $4 million penalty and cooperating with the SEC.

© Crisis Legal News - All Rights Reserved.

The content contained on the web site has been prepared by Legal Crisis News
as a service to the internet community and is not intended to constitute legal advice or
a substitute for consultation with a licensed legal professional in a particular case or circumstance.
 Law Firm Web Design Information
Law Promo can construct your law firm a brand new responsive website, or help you redesign your existing site to secure your place in the mobile world. We believe our work speaks for itself by showcasing quality design while reflecting our extensive experience in the online legal marketing industry. Law Firm Website Designs by Law Promo.| Law Firm Logo Design
   Latest Crisis Legal News
   Sponsored Links
Chicago Business Law Attorney
Corporate Litigation Attorneys
www.rothlawgroup.com
Fort Lauderdale Criminal Defense Lawyer
Miami Sex Crimes Lawyer
www.mishalilaw.com
Fort Washington Employment Law Firm
Attorney Marc E. Weinstein
www.meweinsteinlaw.com
Santa Ana Workers' Compensation Lawyers
www.gentryashtonlaw.com
Car Accidents Attorneys
New Rochelle Personal Injury
www.kboattorneys.com
Eugene Criminal Defense
Law Office of Max J Mizejewski
Family Law. Call 541.505.9872
www.mjmlawoffice.com
CPA Accounting Web Design
Finanace Office Web Designs
www.webpromo.com
Lorain Elyria Divorce Lawyer
www.loraindivorceattorney.com
New York Adoption Lawyers
New York Foster Care Lawyers
Adoption Pre-Certification
www.lawrsm.com
Cobb County Criminal Attorney
Georgia Criminal Defense Lawyer
www.andrewschwartzlaw.com
San Francisco Trademark Lawyer
San Jose Trademark Lawyer
www.onulawfirm.com
Eugene Chapter 7 Bankruptcy Lawyer
Oregon Chapter 7 Bankruptcy Lawyer
www.willamettevalleybankruptcy.com