Elderly grandmother who lost life savings is first to successfully challenge insurance giant LOS ANGELES, Aug. 31, 2016 /PRNewswire/ — A Los Angeles Superior Court jury awarded $15.6 million to a grandmother who lost her life savings in a bogus investment fund that was offered by a MetLife insurance agent. […]
An article in this week’s New York Times summarizes the issues raised in an ongoing lawsuit against MetLife and two of its subsidiaries. The case involves a defunct real estate fund, Diversified Lending Group, run by Bruce Friedman, that offered a high guaranteed rate of return to its investors. The […]
Investors have become familiar with the names Madoff and Ponzi, they get the connection. But it is often new news to hear that there have been more than 500 other Ponzi schemes in the ‘Madoff Era.’ A recent Forbes article recounts the story of Madoff and the nearly $20 billion […]
More than a year ago, alleged Southern California con man Bruce Fred Friedman was arrested in France where he remains in custody today. Friedman has opposed extradition to the US and, although French courts have authorized extradition, the French government has not yet made a final decision.
On November 29, 2011 Hon. Elihu M. Berle named Orange County lawyer Richard E. Donahoo Plaintiffs’ Liaison Counsel in related cases involving Diversified Lending Group (“In Re DLG”) currently pending before Los Angeles Superior Court Civil Complex Division.
The Ponzi scheme was named after Charles Ponzi, an Italian immigrant who was arrested in 1920 for conning New England residents out of millions of dollars. The scheme, in one form or another, continues today.
