The Ponzi Scheme Blog: July 2022

Kathy Bazoian Phelps
Senior Counsel in Ponzi Scheme Litigation
and Bankruptcy Matters

Kathy is a senior business trial attorney with more than 30 years experience prosecuting and defending claims for high net worth clients involved in Ponzi scheme matters and in bankruptcy proceedings. Kathy’s practice includes recovering assets for clients in complex fraud cases under standard fee and alternative fee arrangements. She also handles SEC and CFTC whistleblower claims. Kathy also serves as a mediator in bankruptcy matters, in complex business disputes, and in matters requiring detailed knowledge about fraud or Ponzi schemes.

Kathy’s Clients in Ponzi Scheme Cases and Bankruptcy Matters
Equity Receivers
Bankruptcy Trustees
High Net Worth Investors
Whistleblowers
Debtors in Bankruptcy
Secured and Unsecured Creditors

Sunday, July 31, 2022

July 2022 Ponzi Scheme Roundup

Posted by Kathy Bazoian Phelps

Below is a summary of the activity reported for July 2022. The reported stories reflect at least 3 new Ponzi schemes worldwide, 2 guilty pleas, more than 53 years of prison sentences, and an average age of approximately 47 for the alleged Ponzi schemers. Please feel free to post comments about these or other Ponzi schemes that I may have missed.

Paulette Carpoff, 48, was sentenced to 11 years in prison and ordered to pay $661 million in restitution in connection with the scheme run with her husband, Jeff Carpoff, through DC Solar. Jeff Carpoff was previously sentenced to 30 years in prison and ordered to pay $790.6 million in restitution. DC Solar manufactured solar generator units to be mounted on trailers, but generators were sold that did not exist.

Cryptocurrency in Bankruptcy: Breaking It Into Small Bytes

By Kathy Bazoian Phelps

July 24, 2022

This article covers the Who, What, Where and Hows of issues arising when cryptocurrency lands in a bankruptcy proceeding, with a particular focus on cryptocurrency exchanges and investment funds. Those who think they own the cryptocurrency reflected on their monthly statements may want to keep reading to learn how to assess the risks associated with those exchanges and investments.

Kathy has significant experience with the issues arising in Ponzi scheme cases, and in tracing and recovering assets in complex fraud cases. She has represented all types of parties in Ponzi scheme cases, including investors, defendants in litigation, trustees, and receivers. She has extensive litigation experience in a wide variety of bankruptcy litigation matters, representing operating and liquidating trustees, debtors, and secured and unsecured creditors. Kathy also serves as a mediator in bankruptcy matters, in other complex disputes, and in other matters requiring an expert on fraud or Ponzi schemes.

All blog entries posted on this site are published for general informational purposes and do not constitute legal advice, nor create an attorney-client relationship between the author and the reader. The blogs may not be updated to incorporate changes in the law or facts after the date of publication on the site, and therefore, any information contained therein should be checked to assure accuracy.

Comments made to blog entries posted on this site will be published if they relate to Ponzi schemes issues, advance the discussion of the issues in a productive fashion, and maintain a civil tone. Other comments and those not made with an acceptable standard of professionalism will not be published.

Sunday, July 31, 2022

July 2022 Ponzi Scheme Roundup

Sunday, July 24, 2022

Cryptocurrency in Bankruptcy: Breaking It Into Small Bytes

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