Disgorgement, Prejudgment Interest Awards In Ponzi Scheme Suit Upheld

Mealey's (February 8, 2023, 1:57 PM EST) -- NEW ORLEANS — A federal district court did not err in ordering the operator of a Ponzi scheme to pay disgorgement and prejudgment interest as part of a final judgment award because the Ponzi schemer’s challenge to the court’s remedies determination is foreclosed by Fifth Circuit precedent, while his evidentiary objections are forfeited, a Fifth Circuit U.S. Court of Appeals panel said in affirming....