Reuters: GE Capital Ponzi Scheme Lawsuit Dismissed



Reuters reported that a federal judge dismissed a lawsuit brought by Ritchie Capital Management that alleged it lost more than $150 million because GE Capital aided Tom Petters, a convicted businessman, in a $3.65 billion Ponzi scheme.

According to Reuters, in an order on Tuesday, U.S. District Judge Paul Engelmayer said that Ritchie did not do enough to illustrate that GE Capital directly caused the firm’s losses or took evident action to aid the fraud.

Access the full report from Reuters here.

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
terry.mulreany@monitordaily.com
Susie Angelucci
Advertising: 484.459.3016
susie.angelucci@monitordaily.com

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.
www.abfjournal.com