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Federal judge clears way for duped investors to recover money from the receivership overseeing the assets formerly held by once prominent restaurateur Gina Champion-Cain, now in prison for securities fraud. ....
FAIRFIELD-SUISUN, CALIFORNIA Receiver in Champion-Cain case gets permission to go after investors profiting from her Ponzi scheme [The San Diego Union-Tribune] A judge in the Gina Champion-Case securities fraud case cleared the way Thursday for the court-appointed receiver to go after those investors who profited from the years-long Ponzi scheme. U.S. District Judge Larry Burns, however, left open the question of whether receiver Krista Freitag can also sue Chicago Title, who she and many investors believe was complicit in the fraudulent liquor-license lending operation originally conceived by Champion-Cain, a once prominent San Diego restaurateur. While Burns said he had been inclined to grant the request, he was persuaded Thursday to hold off for a few more months to allow ongoing mediation talks with aggrieved investors to play out. He also wants a full accounting from the receiver and Chicago Title as to the total number of affected investors and the total amou ....
Print A judge in the Gina Champion-Case securities fraud case cleared the way Thursday for the court-appointed receiver to go after those investors who profited from the years-long Ponzi scheme. U.S. District Judge Larry Burns, however, left open the question of whether receiver Krista Freitag can also sue Chicago Title, who she and many investors believe was complicit in the fraudulent liquor-license lending operation originally conceived by Champion-Cain, a once prominent San Diego restaurateur. While Burns said he had been inclined to grant the request, he was persuaded Thursday to hold off for a few more months to allow ongoing mediation talks with aggrieved investors to play out. He also wants a full accounting from the receiver and Chicago Title as to the total number of affected investors and the total amount of their losses. ....