At Meland Budwick, P.A., we take an interdisciplinary approach to the law. We pride ourselves on our flexible, creative method of problem solving and on our firm culture that highly prioritizes responsiveness to our clients’ needs.
Financial Frauds
Our financial frauds team is recognized for its work on some of the largest financial fraud and Ponzi scheme cases across the country. We represent bankruptcy trustees, creditors, creditor committees, and fraud victims, and have recovered hundreds of millions in claims against third parties including banks, law firms, and accounting firms for their roles in financial frauds.
Our team has been appointed by state, federal, and bankruptcy courts to serve as receiver, trustee, plan administrator and manage third party litigation. We have extensive experience litigating clawback actions, fraudulent transfers, professional negligence, usury, and tort claims.
“They are warriors! The top bankruptcy lawyers in Miami when it comes to financial fraud.” – Chambers USA
Meland Budwick serves as special litigation counsel to bankruptcy Trustee Christina Lovato in Nevada in connection with the $1 billion Ponzi scheme orchestrated by DC Solar Solutions’s founder, Jeffrey Carpoff. The firm is prosecuting all litigation claims held by the trustee and has recovered $120 million to date, with several actions pending. Notable settlements include $20 million from Nixon Peabody, $11.6 million from KeyBank, $11.25 million from DC Solar’s outside accountants, $9 million from Heritage Bank, $9.6 million from T-Mobile and consulting firm Alvarez & Marsal, and $5.75 million from a NASCAR subsidiary.
Represented the bankruptcy trustee for two South Florida hedge funds that lost $650 million in the $2 billion Ponzi scheme perpetrated by Thomas J. Petters in Minneapolis—then the third-largest financial fraud in U.S. history. Prosecuted over 140 adversary proceedings, including professional malpractice, fraudulent transfer, and conspiracy claims. Secured a $16 million recovery against BMO Harris Bank and served as a member of the Liquidating Trust Committee managing hundreds of millions in claims.
Represented Chapter 7 trustee and served as court-appointed receiver in $19 million Ponzi scheme by Thomas Abrams; reached a multimillion-dollar settlement with Fidelity Federal Bank & Trust.
Represented the largest victim in Ponzi scheme orchestrated by Fort Lauderdale attorney Scott Rothstein and his law firm, Rothstein Rosenfeldt Adler, P.A.
Represented the largest creditor in the Evergreen Securities bankruptcy involving a $214 million Ponzi scheme in Orlando, Florida.
Served as receiver and later Chapter 11 trustee in the Innovida Holdings fraud case tied to Claudio Osorio. Uncovered $50 million in fraud and led liquidation and litigation efforts to recover funds for investors.
Represented the Official Committee of Unsecured Creditors and then Plan Administrator for Puig, Inc. and 25 affiliates. Prosecuted a range of claims tied to over $100 million in unsecured liabilities.
Represented clawback defendants in the Lancer Partners hedge fund financial fraud case.
Represented EMI Resorts and 20 related defendants in a $170 million RICO action alleging wire fraud and money laundering—ultimately obtaining full dismissal.
Represented a California-based fund in bankruptcy proceedings and related litigation, recovering a $60 million judgment and a $17.5 million nondischargeable judgment against the fraud’s principal.
Represented the Chapter 7 bankruptcy trustee of an entity used by its principal to operate a $40+ million Ponzi scheme. The principal was sentenced to more than 15 years in prison.
Represented parties in major financial fraud and Ponzi-related bankruptcies, including In re: Premium Sales Corporation, In re: Model Imperial, Inc., In re: Phoenix Diversified Investment Corporation, and In re: Palm Beach Finance Partners, L.P.
Financial Frauds.
Our financial frauds team is recognized for its work on some of the largest financial fraud and Ponzi scheme cases across the country. We represent bankruptcy trustees, creditors, creditor committees, and fraud victims, and have recovered hundreds of millions in claims against third parties including banks, law firms, and accounting firms for their roles in financial frauds.
Our team has been appointed by state, federal, and bankruptcy courts to serve as receiver, trustee, plan administrator and manage third party litigation. We have extensive experience litigating clawback actions, fraudulent transfers, professional negligence, usury, and tort claims.
“They are warriors! The top bankruptcy lawyers in Miami when it comes to financial fraud.” – Chambers USA
Meland Budwick serves as special litigation counsel to bankruptcy Trustee Christina Lovato in Nevada in connection with the $1 billion Ponzi scheme orchestrated by DC Solar Solutions’s founder, Jeffrey Carpoff. The firm is prosecuting all litigation claims held by the trustee and has recovered $120 million to date, with several actions pending.
Notable settlements include $20 million from Nixon Peabody, $11.6 million from KeyBank, $11.25 million from DC Solar’s outside accountants, $9 million from Heritage Bank, $9.6 million from T-Mobile and consulting firm Alvarez & Marsal, and $5.75 million from a NASCAR subsidiary.
Represented the bankruptcy trustee for two South Florida hedge funds that lost $650 million in the $2 billion Ponzi scheme perpetrated by Thomas J. Petters in Minneapolis—then the third-largest financial fraud in U.S. history. Prosecuted over 140 adversary proceedings, including professional malpractice, fraudulent transfer, and conspiracy claims. Secured a $16 million recovery against BMO Harris Bank and served as a member of the Liquidating Trust Committee managing hundreds of millions in claims.
Represented Chapter 7 trustee and served as court-appointed receiver in $19 million Ponzi scheme by Thomas Abrams; reached a multimillion-dollar settlement with Fidelity Federal Bank & Trust.
Represented the largest victim in Ponzi scheme orchestrated by Fort Lauderdale attorney Scott Rothstein and his law firm, Rothstein Rosenfeldt Adler, P.A.
Represented the largest creditor in the Evergreen Securities bankruptcy involving a $214 million Ponzi scheme in Orlando, Florida.
Served as receiver and later Chapter 11 trustee in the Innovida Holdings fraud case tied to Claudio Osorio. Uncovered $50 million in fraud and led liquidation and litigation efforts to recover funds for investors.
Represented the Official Committee of Unsecured Creditors and then Plan Administrator for Puig, Inc. and 25 affiliates. Prosecuted a range of claims tied to over $100 million in unsecured liabilities.
Represented clawback defendants in the Lancer Partners hedge fund financial fraud case.
Represented EMI Resorts and 20 related defendants in a $170 million RICO action alleging wire fraud and money laundering—ultimately obtaining full dismissal.
Represented a California-based fund in bankruptcy proceedings and related litigation, recovering a $60 million judgment and a $17.5 million nondischargeable judgment against the fraud’s principal.
Represented the Chapter 7 bankruptcy trustee of an entity used by its principal to operate a $40+ million Ponzi scheme. The principal was sentenced to more than 15 years in prison.
Represented parties in major financial fraud and Ponzi-related bankruptcies, including In re: Premium Sales Corporation, In re: Model Imperial, Inc., In re: Phoenix Diversified Investment Corporation, and In re: Palm Beach Finance Partners, L.P.
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