Exec Liable To Defrauded Investors In £2M Fund Scheme
Law360, London (March 30, 2021, 4:25 PM BST) -- A London judge ruled Tuesday that an investment company's "shadow director" must repay investors defrauded out of more than £2 million ($2.7 million) as part of a scheme to fund claims against financial institutions, saying the business was being run as a "Ponzi scheme."
High Court Judge Richard Meade found former Equitable Law Capital Ltd. executive William David Clarkson misled investors into helping fund claims against financial institutions despite knowing the company was insolvent and likely to go bust.
Although Clarkson had downplayed his role in the company, the judge said he was the de facto director and therefore liable for misleading...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!