Reuters: GE Capital Ponzi Scheme Lawsuit Dismissed
AUG 7, 2015 - 7:23 am
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.
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