Kathy Bazoian Phelps
Senior Counsel in Ponzi Scheme Litigation
and Bankruptcy Matters
Kathy is a senior business trial attorney with more than 25 years experience prosecuting and defending claims for clients involved in Ponzi scheme matters and in bankruptcy proceedings. Kathy’s practice includes recovering assets for clients in complex fraud cases on under standard fee and alternative fee arrangements. Kathy also serves as a mediator in bankruptcy matters, in complex business disputes, and in matters requiring an expert on fraud or Ponzi schemes.
Kathy’s Clients in Ponzi Scheme Cases and Bankruptcy Matters
High Net Worth Investors
Debtors in Bankruptcy
Secured and Unsecured Creditors
Friday, March 23, 2012
Tuesday, March 20, 2012
Stockbroker Safe Harbor Defense in Ponzi Schemes Remains Unresolved Following Picard v. Katz Settlement
Saturday, March 10, 2012
To hear a live discussion on these issues and issues relating to bank liability in Ponzi scheme cases, register for the March 15, 2012 webinar, “The Costly Collision of Financial Institutions with Ponzi Schemes” at http://www.nomoneylaundering.com/ described below.
Saturday, March 3, 2012
The Ponzi Blog by Kathy Bazoian Phelps on February 16, 2012, analyzed on the jury verdict of $67 million in favor of Coquina Investments against TD Bank for its participation in the Rothstein Ponzi scheme in Florida. Now two more bank settlements are being reported in the news.
First, TD Bank has settled with the Razorback Group of 55 investors for $170 million. Second, Gibraltar Private Bank & Trust Co. of Coral Gables has settled with the Razorback Group for an additional $10 million. The total of these two settlements - $180 million - is just what the plaintiffs had requested in damages, but the investors will not likely be paid in full because a large chunk of the settlements is most certainly designated for attorney fees.
It is likely that TD Bank settled because it had no reason to believe that the result of a jury trial on the Razorback Group’s claims would turn out any better than the clobbering it just suffered on the Coquina claims.
But why did Gibraltar Bank settle? Perhaps the answer lies in Scott Rothstein’s deposition testimony of December 12, 2011:
Q: That gave you some insensitive [sic] to become a shareholder?