Brokerage Firm Accused of Facilitating Ponzi Scheme Hit With Proposed Securities Class Action
This suit was surfaced by Law.com Radar. Read the complaint here.
August 04, 2021 at 01:06 AM
1 minute read
Interactive Brokers Group was hit with a securities class action Monday in California Northern District Court alleging that the company knowingly facilitated a Ponzi scheme. The lawsuit, brought by Erickson Kramer Osborne, arises from a scheme perpetuated by a lucrative Interactive customer in which she defrauded investors of $14 million before she was arrested and sent to prison. Interactive is accused of disregarding internal red flags to provide aid to the fraud. Counsel have not yet appeared for the defendant. The case is 5:21-cv-05967, Chang v. Interactive Brokers LLC.
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