McGuireWoods’ Ponzi Litigation team launched its Ponzi Perspectives blog in early 2021 to track key decisions and new cases in Ponzi civil and criminal litigation.  Ponzi Perspectives focuses on on cases and decisions that have the potential to influence controlling law on Ponzi-related issues.  The blog also offers analysis of key decisions and practical considerations when defending Ponzi litigation.  This 2021 year-end round up summarizes the new cases and opinions analyzed throughout the year and highlights the trends that may serve as “coming attractions” of what to expect in 2022.

2021 Ponzi Litigation included Significant SEC Enforcement and Related Cases, Facilitation Claims Against Financial Institutions, and Real Estate and Retirement Schemes.

In Ponzi Perspectives’ inaugural year, McGuireWoods summarized over 35 complaints filed in federal and state courts across the country, including 17 federal district courts and 5 state courts spanning from Massachusetts to California.

Because the SEC filed 7% more enforcement actions in 2021 compared to 2020, these newly filed cases include significant SEC enforcement actions, which often also spurred civil litigation filed by defrauded investors.  Some of the schemes involving SEC litigation in 2021 include:

  • SEC v. Horwitz: Largest film financing Ponzi scheme in U.S. history ($690 million), which was also the subject of two civil cases filed in 2021 by groups of defrauded investors, Whitmore v. Horwitz

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