MRT, LLC is purportedly an investment management company, but the Company was accused of running a Ponzi scheme in Fort Lauderdale, Florida.

The Complaint alleges that MRT, and certain of its principals, violated the Securities Act of 1933 and the Securities Exchange Act of 1934. During the class period, Defendants allegedly made false statements to the public, omitted material information about MRT's principals, and commingled investors' funds. The Company also failed to register itself, its selling agents or the investment contracts it offered and sold to investors.

On March 20, April 14 and April 25, 2008, the Plaintiff filed motions for default judgment against the Defendants. On May 30, 2008, a motion to set aside defaults for Defendants was filed. On June 10, 2008, the Court entered the Order signed by Judge James I. Cohn denying the motion to set aside defaults. On August 29, 2008, the Court entered the Order signed by Judge Cohn denying as moot the motion for default as to MRT LLC. On October 24, 2008, Judge Cohn granted the motion to certify the class action. On July 31, 2009, the Plaintiffs' Counsel informed the Court that all Defendants have executed the Settlement Agreement.

According to an article dated August 11, 2009, Plaintiffs representing a class of investors who claim they were victimized in a Ponzi scheme related to foreign currency trading have reached a settlement with MRT Holdings LLC for the entry of a final judgment of $50 million. In a motion filed Monday in the U.S. District Court for the Southern District of Florida, the Plaintiffs said the class representatives had reached a settlement under which the Defendants have agreed to the final judgment's entry; cooperation to help locate the missing money, including turning over business records; and the opening of supplemental proceedings to allow for suit against third parties who received millions of dollars “believed to be fraudulently transferred.” The settlement obtains the judgment as well as the Defendants' cooperation in locating the missing money, the motion said. Cooperating parties will obtain a credit of 20 cents of each dollar collected against the final judgment. The class comprises all purchasers who bought investment contracts with MRT LLC or MRT Holdings LLC between March 1, 2006, and Oct 5, 2007. It could contain 600 to 1,200 members, according to the Plaintiffs. And if the ultimate accounting shows less than $50 million invested in the scheme, the Plaintiffs will ask the court to reduce the judgment to the lesser amount, the motion said. Estimates range from $15 million to $50 million, according to Jeffrey Sonn of Sonn & Erez PLC, which represents the Plaintiffs. He said the Defendants' records would help Plaintiffs locate third parties that may have received the fraudulent transfers and bring suit against them to recover the money.

A hearing was schedules for October 16, 2009 at 2:00 p.m., before the Honorable James I. Cohn, at the United States District Court for the Southern District of Florida, Room 203E, 299 East Broward Blvd., Fort Lauderdale, Florida, for the purpose of determining: (1) whether the proposed settlement of the Action for a Final Judgment of $50 million dollars should be approved by the Court as fair, reasonable and adequate; (2) whether, thereafter, Lead Plaintiffs may begin supplementary proceedings to try to locate assets subject to the Final Judgment; (3) whether to approve Plaintiffs' lead Counsel's application for an award of attorney fees and expenses incurred in connection with this Action, together with interest earned thereon.

According to a press release dated November 23, 2009, the law firm of Sonn & Erez PLC has obtained a $50,000,000 Final Judgment in a class action on behalf of investors in MRT. The Final Judgment was entered by US District Judge James I. Cohn in the case of Katz vs. MRT et al., after a hearing to approve the settlement as fair and reasonable for all the investors in this class action case.