Insurer Reaches Settlement Over Crown Forex FINRA Claims
By Juan Carlos Rodriguez
Law360, New York (June 18, 2012, 5:36 PM ET) -- The insurer for convicted Crown Forex SA fraudster Jason Bo-Alan Beckman on Monday agreed to pay $400,000 to settle Financial Industry Regulatory Authority claims made by investors who lost money in connection with his Ponzi scheme.
Everest Indemnity Insurance Co. will pay $282,500 to the investors and $117,500 to the receiver in charge of Beckman’s estate, according to an order signed by U.S. District Judge Michael J. Davis.
A Minnesota federal jury last week found Beckman and two others guilty of helping Crown Forex principal Trevor... (you have to register to read to read the full story)