DEFENSE OF BUSINESSMAN CHARGED WITH OPERATING A $50,000,000 PONZI SCHEME

Steve Young’s client saw all his assets disappear and his net worth dip below zero after being sued for allegedly running a ponzi scheme. The client came to Steve after other lawyers ran out all the client’s money and then withdrew as counsel. When Steve accepted the engagement, motions to strike the client’s answer and enter default were pending three days hence — with no oppositions on file. Steve convinced the court to forestall dismissal, to allow Steve and to respond to outstanding discovery. Avoiding death sentence sanctions, Steve prepared the case for trial, answered ready and six days into trial (after motions in limine and jury selection) settled the plaintiff’s $50,000,000 suit for a mutual walk away and hold harmless.