Judge orders $1.9M in embezzled funds returned to benefit Ponzi scheme victims

By Emma Oxnevad eoxnevad@lawbulletinmedia.com

Posted September 15, 2021 11:15 AM

Updated September 16, 2021 11:16 AM

A federal judge has ordered a man with Chicago ties to return more than $1.9 million used to buy high-end wine and spirits in a claim connected to the massive Petters Ponzi scheme.Douglas A. Kelley, trustee for victims of the scheme, filed a lawsuit in December 2018 alleging Steven G. Stevanovich embezzled from Capital Strategies Fund, Ltd., where he served as director and which invested in the scheme and withdrew profits from it. Victims of the scheme have a claim on Capital Strategies assets.U.S. District Judge John J …

To Read the Full Story

Your source for legal news and information

Print & Digital Access

Stay in the know all year long with these benefits:

Delivery to your office in downtown Chicago or mailed outside our hand-delivery zone.
Unlimited access to chicagolawbulletin.com.
Access to our e-edition and mobile site.
Breaking news alerts, Morning Lineup and Afternoon Headlines.
Exclusive access to events, discounts and more.

Order now, or call 312-644-2394 or email Subscription@LawBulletinMedia.com for details.

Be in the know. These must-read insider briefings will keep you

informed of the latest legal developments in Chicago. Sign up today!

Initial suits over weed killer paraquat dismissed

A federal judge threw out four lawsuits that allege exposure to the weed killer paraquat can cause Parkinson’s disease, holding her rejection of the expert opinion offered by the plaintiffs doomed their cases.
By Patricia Manson
Settlement for sickened BP oil spill workers leaves most with little

When a deadly explosion destroyed BP’s Deepwater Horizon drilling rig in the Gulf of Mexico, 134 million gallons of crude erupted into the sea over the next three months — and tens of thousands of ordinary people were hired to help clean up environmental devastation from the biggest offshore oil spill in U.S. history.
By Travis Loller and Michael Phillis
Historic jury selection highlights key role of social media vetting

When the first batch of potential jurors was brought in for Donald Trump’s criminal trial this week, all the lawyers had to go on to size them up at first were their names and the answers they gave in court to a set of screening questions.
By Larry Neumeister and Jake Offenhartz
Boeing put under Senate scrutiny over safety culture

An engineer at Boeing said Wednesday that the aircraft company, in rushing to produce as many planes as possible, is taking manufacturing shortcuts that could lead to jetliners breaking apart.
By David Koenig
$1M judgment for exploding vape batteries vacated

A vape store does not have to pay $1 million in damages over a man’s burn injuries after a state appellate panel found it was unfairly sanctioned over discovery responses.
By Emma Oxnevad
Advocates renew push to tighten Illinois firearm laws

Advocates for stricter gun laws rallied at the state Capitol Tuesday for a measure aimed at protecting domestic violence victims and two other criminal justice reforms.
By Cole Longcor
Sanction upheld for firm that faked expert discovery

A judge did not abuse his discretion when he sanctioned Lincolnwood attorney Al-Haroon Husain and his law firm for making up expert witness disclosures while defending themselves against a legal malpractice lawsuit, an Illinois appeals court held.
By Patricia Manson
Ruling eases way to sue for job bias in forced transfers

The Supreme Court on Wednesday made it easier for workers who are transferred from one job to another against their will to pursue job discrimination claims under federal civil rights law, even when they are not demoted or docked pay.
By Mark Sherman