Scheme

Judge Compares Trump’s Alleged Fraud to Madoff Ponzi Scheme in New York Trial: A Closer Look

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New York, NY – During the closing arguments of Donald Trump’s fraud trial, the judge posed a question that drew a comparison between the alleged fraud and Bernie Madoff’s Ponzi scheme. The attorney from the New York attorney general’s office responded by stating that while the fraud in question was smaller in scale, both cases demonstrated a sense of entitlement. The judge presiding over the three-month nonjury trial, New York Supreme Court Justice Arthur Engoron, interrupted the closing arguments to inquire about the similarities between the two fraudsters. He remarked that although he typically enforces … Read more

Minnesota Lawyer Secures Record-Breaking $564 Million Verdict by Uncovering Destroyed Evidence in Historic Ponzi Scheme Case

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MINNEAPOLIS, MINNESOTA – In a groundbreaking verdict, Michael Collyard ’00, a partner at Robins Kaplan, won a jury trial that resulted in a record-setting $564 million judgment. The case centered around Tom Petters’ massive Ponzi scheme, which was one of the largest financial scams in U.S. history and the largest in Minnesota. Collyard strategically focused on the absence of millions of destroyed documents as evidence, ultimately leading to his victory. Collyard served as the lead trial counsel, and in November 2022, a federal jury ordered BMO Harris Bank to pay bankruptcy trustee Douglas Kelley a … Read more

Minnesota Man Pleads Guilty to $3.5 Million Tax Fraud Scheme: Faces Up to 20 Years in Prison

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PRIOR LAKE, Minn. (AP) — A man from Minnesota has pleaded guilty to wire fraud and assisting in the preparation of a false income tax return, according to officials from the Wisconsin Department of Justice. Court documents and statements made in court revealed that Beau Wesley Gensmer of Prior Lake orchestrated a scheme from 2012 to 2018. He assisted in the preparation of 50 false tax returns, which fraudulently claimed inflated tax refunds on behalf of unsuspecting taxpayers. Gensmer emailed knowingly false information to a tax return preparer in Alaska, including fraudulent business losses and … Read more

Former Attorney Accused of $100 Million Scheme Fakes Memory Problems, Judge Rules

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LOS ANGELES, California – A judge has determined that Tom Girardi, the disgraced former attorney, is competent to stand trial for wire fraud charges. The decision, revealed in a recently unsealed 52-page document, comes after allegations of faking memory problems by Girardi, known for his involvement with reality star Erika Jayne and a high-profile legal career. U.S. Dist. Judge Josephine Staton raised doubts about Girardi’s credibility in her ruling. She stated that his denial of knowledge or memory loss regarding the charges against him lacked credibility. Moreover, the judge cited evidence suggesting that Girardi purposefully … Read more