Case Page


Case Status:    DISMISSED    
On or around 09/12/2014 (Court's order of dismissal)

Filing Date: December 12, 2008

The complaint alleges that this case arises from one of the most damaging Ponzi schemes in the history of Wall Street and the United States, a massive fraud through which individual defendant and his accomplices swindled investors out of monies estimated to exceed $50 billion. Plaintiff's claims include fraud based on misrepresentations in connection with the sale of securities in violation of the Securities and Exchange Act of 1934, violation of the Racketeer Influenced and Corrupt Organizations. Act, and related state and common law charges.

According to news reports, shortly before his stunning, arrest, defendant admitted that BMIS is insolvent and has been for years, and has publicly admitted that losses from this fraud are at least $50 billion.

On September 12, 2014, the Court issued an Order dismissing this case for failure to prosecute.


Sector: Financial
Industry: Investment Services
Headquarters: United States


Ticker Symbol:
Company Market: Privately Traded
Market Status: Privately Held

About the Company & Securities Data

"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: E.D. New York
DOCKET #: 08-CV-5026
JUDGE: Hon. Arthur D. Spatt
DATE FILED: 12/12/2008
CLASS PERIOD END: 12/12/2008
  1. Ruskin, Moscou, Faltischek, PC
    1425 RexCorp Plaza, East Tower, Ruskin, Moscou, Faltischek, PC, NY 11556
    516.663.6600 ·
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