More fun with "Leo"

http://therealdeal.com/miami/blog/2012/01/05/real-estate-exec-immediately-pleads-guilty-to-135m-ponzi-charge/

Remind me to dissect the scam for you later, including some stuff the FBI ignored.

Comments

Stomper Girl said…
Far out. Are you being dragged into the legal proceedings?
6:05 AM, January 11, 2012
JMG said…
Jinx-me-not!
6:22 AM, January 11, 2012
Tere said…
Interesting! I've been following all the local Ponzi cases (through my prior employment, I dealt numerous times with S. Rothstein - and I KNEW he was a crook).

So at this point, are you considered one of the defrauded investors, and can you file a claim to try to get some money back?
1:31 PM, January 12, 2012
JMG said…
Tere, you poor deluded naif.

The assorted investors had to file a claim w. the bankruptcy trustee and those VERY few who had their claims validated got -- wait for it -- 3% of the amount of the claims. 75% of the monies recovered went to the trustee, the trustee's law firm and the trustee's CPA firm.

Yes, "Leo" is still subject to claims by investors but he is (at least on paper, at least as far as the US is concerned) insolvent.
4:47 PM, January 12, 2012
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