Fraudulent Transfer Ruling In Ponzi Scheme Lawsuit Remanded To District Court

Mealey's (November 2, 2022, 2:03 PM EDT) -- ATLANTA — While a federal district court did not err in determining that a receiver’s right to bring a fraudulent transfer action against a woman as part of a receivership action stemming from a Ponzi scheme was not in violation of the statute of limitations and was not barred by the doctrine of laches, it did err in concluding that the transfer of a note to the woman in exchange for $30,000 of her personal funds was constructively fraudulent, an 11th Circuit U.S. Court of Appeals panel ruled Nov. 2 in vacating and remanding in a per curiam opinion....