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    Fifth Circuit holds that political contributions from Ponzi schemers are fraudulent transfers
    2012-11-29

    The United States Court of Appeals for the Fifth Circuit, on Oct. 22, 2012, held that $1.6 million in political contributions made to five different political committees by Ponzi scheme defendants between 2000 and 2008 were fraudulent transfers made “with actual intent to hinder, delay, or defraud creditors” under the Texas version of the Uniform Fraudulent Transfer Act. Janvey v. Democratic Senatorial Campaign Committee, Inc., et al., 2012 WL 5207460 ___ F.3d ___ (5th Cir. 2012).

    Filed under:
    USA, Texas, Insolvency & Restructuring, Litigation, White Collar Crime, Schulte Roth & Zabel LLP, Fraud, Campaign finance, Wells Fargo, Second Circuit, Fifth Circuit
    Authors:
    Michael L. Cook
    Location:
    USA
    Firm:
    Schulte Roth & Zabel LLP
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