$114.5 Million Verdict In Class Action Ponzi Scheme Trial
October 1, 2013
Ara Jabagchourian served as lead trial counsel in a four week class action trial related to a Ponzi scheme. Jabagchourian represented 800 class members who were defrauded in a purported equipment lease business. The president, chief financial officer and the widow of the chief executive officer were all part of the suit. The jury award the class $47.2 million against the president and CFO of the company. In the second phase of the trial, the judge awarded $114.5 million against the widow of the CEO based on the doctrine of alter ego. The matter was upheld in the court of appeal.
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