Ponzi Scheme Clawback Litigation: Tips and Strategies
With the continued expansion of the avoidable-transfer litigation landscape, the risk of clawback suits against investors who potentially redeemed their interests in a fraudulent investment operation and others exposed to a Ponzi scheme has never been greater. To bring, defend against, or avoid such claims, it is imperative to keep abreast of recent clawback litigation developments and trends.
In this LIVE Webcast, a panel of thought leaders and professionals brought together by The Knowledge Group will discuss in depth the fundamentals of Ponzi Scheme Clawback Litigation. The speakers will help the audience understand the impact of recent trends and developments surrounding this significant topic. They will also go beyond the basics and offer practical tips and strategies for plaintiffs and defendants in handling these lawsuits in an active and evolving legal climate.
Key topics include:
- Ponzi Scheme Clawback Litigation: An Overview
- Practical and Strategic Considerations
- Threshold Challenges to Clawback Suits
- Noteworthy Claims and Defenses
- Settlement Considerations
Patrick S. Scott, Of Counsel
Eric A. Bensky, Shareholder
Murphy & McGonigle, P.C.
- Overview of Ponzi Scheme Clawback Litigation
- Venue Considerations
- Bankruptcy Court
- Federal District Court
- Plaintiffs’ Standing Based on Whose Property Was Transferred
- Effect of Pending Forfeiture Action
- Traceability of Funds
- Good Faith Defenses
- Secured Creditors
- Secondary Transferees
- Account Deposits as Fraudulent Transfers
- Unauthorized Transfers
- Aiding and Abetting Fraud and Breach of Fiduciary Duty
- Plaintiff Trends
- Borrowing Longer Statutes of Limitations
- Alternative Claims
- Avoidable Preference
- Unjust Enrichment
- Equitable and Partial Defenses
- In Pari Delicto
- Single Satisfaction Rule
- Collateral Sources of Recovery
Who Should Attend:
- Bankruptcy Lawyers
- Forensic Accountants
- Bankruptcy Trustees
- Fraud Monitoring Officers
- Bankruptcy Professionals
- In-house Counsel
- Top Level Management
- Multinational Companies
- Private and Public Companies
PATRICK SCOTT is a business bankruptcy specialist who has practiced for 38 years in the Ponzi-scheme-rich Southern District of Florida, both prosecuting and defending avoidance (clawback) actions. He has represented SIPC liquidation trustees, panel and plan trustees, debtors-in-possession, creditors' committees, and receivers, and often has defended recipients of transfers in bankruptcies and receiverships in Florida and in federal courts around the country. Pat has represented litigants in the forfeiture and clawback litigation arising from most major fraud cases in Florida, beginning with the 1980s Chase & Sanborn bank frauds, continuing through SIPC liquidations, and many Ponzi schemes in recent years. In the $300 million Rothstein case, he represented a variety of defendants, and exposed three fencing operations in the process. He has tried clawback cases before bankruptcy judges and jury. More than 40 decisions in his cases have been published in West's Reporters.
PATRICK SCOTT is a business bankruptcy specialist who has practiced for 38 years in the Ponzi-scheme-rich Southern District of Florida, …
Eric A. Bensky focuses on securities litigation, with an emphasis on representing prime brokers, clearing firms, and other broker-dealers in court, arbitration, and regulatory investigations and disciplinary proceedings. He has represented brokerage firms and other clients in investigations and litigation (including clawback litigation) by receivers and trustees appointed in the wake of such Ponzi schemes as those involving Bernard L. Madoff Investment Securities, Arthur Nadel, Bradley Ruderman, Samuel Israel III’s Bayou funds, and John Natale’s Cambridge Partners. Eric also has extensive experience with issues involving anti-money laundering (AML), margin (including portfolio margin), and direct market access (DMA). Non-broker-dealer clients have included a leading national and international bank, a major mutual fund complex, public companies and their officers and directors, individuals and entities suspected of or charged with insider trading, investment advisory firms, and hedge funds.
Eric A. Bensky focuses on securities litigation, with an emphasis on representing prime brokers, clearing firms, and other broker-dealers in …
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Method Of Presentation:
Experience with the fundamentals of investment law
NY Category of CLE Credit:
Areas of Professional Practice
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About GrayRobinson, P.A.
GRAYROBINSON, P.A. is a full-service corporate Florida law firm with 300 attorneys and consultants in 14 cities across Florida. Particularly strong in commercial litigation, its 12 bankruptcy attorneys practice throughout thestate
About Murphy & McGonigle, P.C.
Murphy & McGonigle serves the regulatory, enforcement defense, litigation, and counseling needs of clients across the full spectrum of the financial services industry – from national and international securities markets and exchanges to national banks, broker-dealers, investment advisers, and hedge funds.
Many of the firm’s partners formerly served in senior positions at the Securities and Exchange Commission (SEC), the U.S. Department of Justice, the Financial Industry Regulatory Authority (FINRA), the Commodity Futures Trading Commission (CFTC), and the New York State Department of Financial Services, and several served in senior executive positions in major financial institutions on Wall Street.
Murphy & McGonigle has been named a National Tier One law firm in Securities Litigation and Securities Regulation by a leading industry survey. The Firm operates in New York, Washington, D.C. and Richmond, VA.