NY Times’ Dealbook reports that Stephen Walsh is fighting claims that he helped defraud investors of more than $550 million in a 13-year Ponzi scheme.
The Ponzi schemes that came to light during the depths of the financial crisis have spawned various lawsuits seeking to claw back money from divorce agreements. Now, in one case, a court has said: Hands off. On Thursday, New York’s highest court ruled that a woman could keep proceeds from a divorce agreement, even if those proceeds were the ill-gotten gains of a financial fraud perpetrated by her former husband.
The decision is a blow to the federal government, which is seeking to force the woman to disgorge what it says are millions of dollars in stolen money.
There's more. Find it at:
http://dealbook.nytimes.com/2011/06/23/court-says-ex-wife-may-retain-ponzi-scheme-money/
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