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- Title
Can We Keep This Dirty Money?: Ponzi Scheme Transfers and the Fourth Circuit's Vague but Workable Standard in In re Derivium Capital, LLC.
- Authors
KENLEY, KRISTEN J.
- Abstract
The article discusses the establishment of a legal standard concerning Ponzi schemes by the U.S. Fourth Circuit Court of Appeals in the case Grayson Consulting, Inc. V. Wachovia Securities, LLC (In re Derivium Capital, LLC). According to the article, the court expanded the application of the protection of commissions, fees, and margin payments to stock brokerages despite involvement in an alleged Ponzi scheme. The article also discusses the safe harbor provision of the U.S. Bankruptcy Code.
- Subjects
UNITED States; PONZI schemes; DERIVIUM Capital LLC; LEGAL status of stockbrokers; UNITED States. Bankruptcy; SAFE harbor; UNITED States. Court of Appeals (4th Circuit); ACTIONS &; defenses (Law)
- Publication
North Carolina Law Review, 2014, Vol 92, Issue 4, p1370
- ISSN
0029-2524
- Publication type
Article