A Utah battery importer’s affiliate has agreed to pay $4.5 million, a court-appointed receiver said when asking a federal court to approve the recovery from an alleged $449 million Ponzi scheme.
The approval request is the latest installment in the SEC enforcement action related to the half-billion dollar scheme that involved a Las Vegas attorney, his law firm, and other individuals.
The importer and wholesaler, Eco Battery LLC, allegedly sought to thwart the return of an accused scheme participant’s investment in it by creating new entities to carry on the business, the receiver said in his request to the US ...
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