Charles Bennett, a Former Corporate Lawyer at Skadden, Arps, Slate, Meagher & Flom, Sentenced to Prison for Running a $5 Million Ponzi Scheme
May 19, 2016, New York – Charles Bennett, 57, a former corporate lawyer at Skadden, Arps, Slate, Meagher & Flom, was sentenced to prison for running a $5 million Ponzi scheme. Bennett had left a suicide note before trying to kill himself which revealed the scheme that defrauded his friends and family members. Bennett survived the suicide attempt.
Bennett allegedly began the scheme in 2008, duping several investors with promises of up to 25 percent returns and misleading claims. As per the complaint, the investment fraud came after Bennett launched his own law practice in 2001. As a part of the scheme, Bennett allegedly told investors that he had a relationship with a Wyoming fund manager and could arrange for investments in his fund. But Bennett never invested the money and instead used it for his own benefit and to repay investors. He attempted to commit suicide after investors began demanding repayment.
The case is U.S. v. Bennett, U.S. District Court, Southern District of New York, Case No. 15-00020.
Metered Electrical Energy Delivered by a Defendant to the Debtor Constitutes “Goods” Under the Unambiguous Text of §503(b)(9)
In re Escalera Res. Co., 563 B.R. 336 (Bankr. D. Colo. 2017) Debtor Escalera Resources…Read More
Madoff Cohmad Clawback Lawsuit Settles For $32 Million
November 4, 2016, New York – Victims of Bernard Madoff’s Ponzi scheme will soon receive…Read More
Merit Management Group Knocks the Doors of the Supreme Court in $16.5M Centaur Ch. 11 Clawback
January 5, 2017, New York – Merit Management Group, LLC, a former shareholder of a…Read More
Seventh Circuit Affirms Ruling in a Telecom Company Bankruptcy Case
Southern District of Indiana, September 22, 2017 – Debtor, a telecommunications retailer paid the Defendant,…Read More
Defendant Provided “Value” for the Alleged Transfer By Paying For the Parties’ Living Expenses From the Transfer
Silagy v. Schroeder (In re Schroeder), Nos. 14-62604, 16-6017, 2017 Bankr. LEXIS 420 (U.S. Bankr….Read More