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Ponzi Victims’ Claims Against Third Parties

Lewis Babcock LLP attorneys represent victims of Ponzi schemes in individual and class actions against third-party defendants who may be held liable for investor losses.

Such third-party defendants can include such entities as banks, broker-dealers, accountants, attorneys, and other individuals and entities involved with the scheme.  Liability may be based on their participation in the actual securities transaction, representations about the investment or the Ponzi organizer, or other involvement whereby the person or entity violates applicable standards or otherwise breaches a duty owed to the investors.  Possible claims may include the following:

  • Materially aiding or participating in the sale of a security in violation of state securities laws (also called blue sky laws)
  • Liability under the state and federal securities laws as a “control person” of the Ponzi scheme organizer
  • Breach of contract
  • Breach of fiduciary duty
  • Aiding and abetting breach of fiduciary duty
  • Negligent misrepresentation
  • Negligent supervision
  • Professional malpractice
  • Fraud and constructive fraud
  • Civil conspiracy
  • Violations of consumer protection and unfair and deceptive trade practices acts

For more detailed information, read Ponzi Victims’ Third-Party Claims: Law and Practice by partner Badge Humphries.

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