Transfers made to the defendants in repayment of their loans to the debtors' principal, who was conducting a Ponzi scheme, were not avoidable as fraudulent. After a trial on the matter, the court found that the defendants received less than they loaned; they acted in good faith; and they gave reasonably equivalent value for the transfers.
Date:
Monday, January 6, 2014
Judge:
Judge Timothy J. Mahoney (Retired)