Is the End at Hand for Tracy Sunderlage & Nikolai Battoo?
419 plan litigation, Sunderlage, Battoo Suspected fraudsters Tracy Sunderlage and Nikolai Battoo are about out of time.
We have closely followed the many legal cases surrounding Nikolai Battoo and Tracy Sunderlage. Together they, and entities controlled or involved with them, have cost investors hundreds of millions of dollars. Our clients alone have lost many millions.
A sampling of the entities connected with the two men or engaged in similar activities include PIWM, BC Capital, Maven, PBT, Anchor Hedge Fund, SRG International, SIAM (Sovereign International Asset management), Randall Administration, Fidelity Insurance and Sunderlage Resource Group. Often people are fooled because many of these entities have names that sound similar to legitimate financial businesses.
The primary case against the men in the United States was brought by the Securities and Exchange Commission. The SEC filed a civil suit in September of last year. In addition to seeking an order to restrain the men from any further violations of securities law, the government also sought to force the two to dislodge any ill-gotten gains.
One year later and it appears that the court will soon be defaulting both men. No monies have been collected, however. In fact, two months ago, the court appointed a pro bono (“free”) lawyer to represent Sunderlage after finding he was indigent. Tens of millions, if not hundreds of millions, in missing money and Sunderlage can’t even afford a lawyer.
Battoo and BC Capital was defaulted on August 23rd. The Court denied the SEC’s request to default Sunderlage and gave him one last chance to answer until October 30th. The next court date is November 4th, 2013.
That neither man fought the charges speaks volumes to the little hope for a rapid recovery of funds. In our experience, those that don’t fight the charges against them are either truly broke or believe they have hidden the money so well that they are confident the government won’t be able to find it.
The foreign liquidation proceedings against Nikolai Battoo seem to be fairing only slightly better. There may be some money sitting in the Isle of Guernsey but there is no guarantee that the money will go to his American victims. That is because there are people all over the world clamoring for the return of their lost investments.
Hope for Tracy Sunderlage & Nikolai Battoo Investors Is there hope? Of course.
Is the End at Hand for Tracy Sunderlage & Nikolai Battoo?
ReplyDelete419 plan litigation, Sunderlage, Battoo
Suspected fraudsters Tracy Sunderlage and Nikolai Battoo are about out of time.
We have closely followed the many legal cases surrounding Nikolai Battoo and Tracy Sunderlage. Together they, and entities controlled or involved with them, have cost investors hundreds of millions of dollars. Our clients alone have lost many millions.
A sampling of the entities connected with the two men or engaged in similar activities include PIWM, BC Capital, Maven, PBT, Anchor Hedge Fund, SRG International, SIAM (Sovereign International Asset management), Randall Administration, Fidelity Insurance and Sunderlage Resource Group. Often people are fooled because many of these entities have names that sound similar to legitimate financial businesses.
The primary case against the men in the United States was brought by the Securities and Exchange Commission. The SEC filed a civil suit in September of last year. In addition to seeking an order to restrain the men from any further violations of securities law, the government also sought to force the two to dislodge any ill-gotten gains.
One year later and it appears that the court will soon be defaulting both men. No monies have been collected, however. In fact, two months ago, the court appointed a pro bono (“free”) lawyer to represent Sunderlage after finding he was indigent. Tens of millions, if not hundreds of millions, in missing money and Sunderlage can’t even afford a lawyer.
Battoo and BC Capital was defaulted on August 23rd. The Court denied the SEC’s request to default Sunderlage and gave him one last chance to answer until October 30th. The next court date is November 4th, 2013.
That neither man fought the charges speaks volumes to the little hope for a rapid recovery of funds. In our experience, those that don’t fight the charges against them are either truly broke or believe they have hidden the money so well that they are confident the government won’t be able to find it.
The foreign liquidation proceedings against Nikolai Battoo seem to be fairing only slightly better. There may be some money sitting in the Isle of Guernsey but there is no guarantee that the money will go to his American victims. That is because there are people all over the world clamoring for the return of their lost investments.
Hope for Tracy Sunderlage & Nikolai Battoo Investors
Is there hope? Of course.