Community | December 18, 2009 | 0 comments

Sonn & Erez PLC Obtains $50,000,000 Judgment in MRT Ponzi Scheme Case

source: http://InvestmentFraudTimes.com

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The law firm of Sonn & Erez PLC has obtained a $50,000,000 Final Judgment in a class action on behalf of investors in MRT, a company accused of running a Ponzi Scheme in Fort Lauderdale, Florida. The Final Judgment was entered by US District Judge James I. Cohn in the case of Katz vs. MRT et al., after a hearing to approve the settlement as fair and reasonable for all the investors in this class action case. It was alleged that MRT had sold unregistered securities to hundreds of investors, purportedly "loans" or "investments" from unsuspecting investors for the purported purpose of trading "FOREX" futures and options. In exchange for this investment, MRT promised and, in some cases, allegedly paid rates of interest from about twelve percent annually (12%) to as high as over eleven percent (11%) a month
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