Daily News: January 2, 2013

Creditors Sue GE Capital in Petters Ponzi Scheme


The Stamford Advocate reported that GE Capital is being sued by creditors of hedge funds defrauded in the Thomas Petters Ponzi scheme.

The Advocate said, according to the complaint, creditors are contending that GE kept quiet after discovering the fraud to allow time for Petters to repay a $45 million loan.

To read the Stamford Advocate news article, click here.

Previously on abfjournal.com:

GE Capital Agrees to Pay $19MM in Ponzi Scheme Settlement, Thursday, May 31, 2012