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
Debtors in Bankruptcy
Secured and Unsecured Creditors

Friday, July 31, 2020

July 2020 Ponzi Scheme Roundup

Posted by Kathy Bazoian Phelps
Below is a summary of the activity reported for July 2020. The reported stories reflect at least 10 new Ponzi schemes worldwide, 5 guilty pleas, 95 years of prison sentences, and an average age of approximately 54 for the alleged Ponzi schemers. Please feel free to post comments about these or other Ponzi schemes that I may have missed.
Gregory Altieri, 53, the president of LNA Associates, was charged in New York with running a Ponzi scheme that took in between $75 million and $85 million from more than 80 investors. Altieri promised investors a 30% to 70% return within months from nonexistence wholesale jewelry deals where he would supposedly buy jewelry at closeout prices and resell it at a high profit.