{"id":9430,"date":"2020-10-14T13:20:39","date_gmt":"2020-10-14T17:20:39","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=9430"},"modified":"2021-02-02T15:25:43","modified_gmt":"2021-02-02T20:25:43","slug":"11th-circuit-clarifies-what-legal-claims-belong-to-receivers-vs-defrauded-investors-in-ponzi-scheme-receiverships","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/11th-circuit-clarifies-what-legal-claims-belong-to-receivers-vs-defrauded-investors-in-ponzi-scheme-receiverships\/","title":{"rendered":"11th Circuit Clarifies What Legal Claims Belong To Receivers vs. Defrauded Investors In Ponzi Scheme Receiverships"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-8456 size-medium\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2019\/07\/Justice2-300x200.jpg\" alt=\"In June 2020, the U.S. Court of Appeals for the Eleventh Circuit issued an opinion in the case Isaiah v. JPMorgan Chase Bank, N.A. This landmark decision narrowly defines which claims can be brought by a court-appointed receiver for entities that perpetrated a Ponzi scheme, leaving a broad category of claims to the investor-victims to be litigated either individually or on a class action basis. Ponzi Scheme Background This case arose out of a Ponzi scheme in which two fraudsters used business entities they controlled to bilk millions of dollars from more than 2,000 investors. According to the 11th Circuit opinion, \u201cthe Ponzi schemers solicited investors by promising astronomical returns on investments supposedly involving the trade of Venezuelan and U.S. currency.\u201d Unfortunately, in true Ponzi scheme fashion, the perpetrators were paying so-called \u201cdistributions\u201d to existing investors using money continuously being raised from new investors. The scheme ultimately was uncovered and fell apart, and a court-appointed receiver was put in place to stand in the shoes of the fraudulent entities to protect the creditors\u2019 (the victims\u2019) rights. When a Ponzi scheme is uncovered, a court-appointed receiver is often put in place to unravel the financial misconduct committed by the fraudsters.\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2019\/07\/Justice2.jpg 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2019\/07\/Justice2-180x120.jpg 180w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>In June 2020, the U.S. Court of Appeals for the Eleventh Circuit issued an opinion in the case <em>Isaiah v. JPMorgan Chase Bank, N.A.<\/em> This landmark decision narrowly defines which claims can be brought by a court-appointed receiver for entities that perpetrated a <a href=\"https:\/\/www.silverlaw.com\/ponzi-scheme.html\" target=\"_blank\">Ponzi scheme<\/a>, leaving a broad category of claims to the investor-victims to be litigated either individually or on a class action basis.  <a href=\"https:\/\/www.silverlaw.com\/blog\/11th-circuit-clarifies-what-legal-claims-belong-to-receivers-vs-defrauded-investors-in-ponzi-scheme-receiverships\/#more-9430\" class=\"more-link\">Continue reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In June 2020, the U.S. Court of Appeals for the Eleventh Circuit issued an opinion in the case Isaiah v. JPMorgan Chase Bank, N.A. This landmark decision narrowly defines which claims can be brought by a court-appointed receiver for entities that perpetrated a Ponzi scheme, leaving a broad category of claims to the investor-victims to [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[593,1646],"tags":[],"class_list":["post-9430","post","type-post","status-publish","format-standard","hentry","category-ponzi-schemes","category-securities-fraud"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Court Clarifies What Claims Belong To Investors In Ponzi Receiverships<\/title>\n<meta name=\"description\" content=\"The U.S. Court of Appeals for the Eleventh Circuit issued an opinion on which claims can be brought by a receiver for Ponzi schemes.\" \/>\n<meta name=\"robots\" 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