Tag Archives: Ponzi-scheme

The Aristophil Scandal: All that glitters…

Open BookRastignac? Grandet? Swindler? Arsène Lupin? Ponzi scheme concerning letters and manuscripts? The adventures of Gérard X, formidable businessman, founder and manager of the Aristophil company, were abruptly interrupted in November 2014, with the search of the company premises and its property by the judicial police. The company was put into receivership on February 16 2015, … Continue Reading

I’ve just learned my customer is a crook – do I have to return the money he’s paid me?

Suppliers of good and services (“trade creditors”) generally have no duty to determine whether their customers are operating an illegal enterprise. However a recent Fifth Circuit opinion presents an unprecedented “claw-back” risk facing trade creditors who unknowingly provide goods and services to a “Ponzi-scheme” enterprise. The Janvey Opinion In Janvey v. The Golf Channel, 13-11305 … Continue Reading