News

June 19, 2017 News

Morrison Cohen Receives Favorable Media Coverage in Alleged Ponzi Scheme

June 19, 2017 - In the evolving matter involving an alleged ticket brokerage Ponzi scheme, Morrison Cohen was mentioned in the Law360 article “Alleged Ponzi Scheme a ‘Melting Ice Cube,’ Creditors Told,” that appeared on June 9, 2017.

Morrison Cohen is representing investors Taly USA Holdings and SLL USA Holdings in a civil action against Jason Nissen and eight of his companies accused of running an alleged $70 million Ponzi scheme surrounding a ticket brokerage.

The Firm garnered early successes in freezing Nissen’s assets and convincing a state court to appoint a receiver to oversee his companies. The receiver order Morrison Cohen obtained contained unique provisions that provided the receiver with expanded powers including the power to file Nissen’s companies into chapter 11. The matter is now proceeding in bankruptcy court, where the Firm is navigating the claims of many creditors in an attempt to recover monies for the investors.

Nissan’s arrest by the FBI has been extensively covered in the media, including The New York Times, the New York Post, U.S. News & World Report, NBC, CBS, Reuters, Bloomberg and the Daily Mail in the U.K.  Morrison Cohen partner Christopher Milito obtained the receivership order and the asset freeze.  Mr. Milito was quoted in the New York Post about the case: http://nypost.com/2017/06/09/star-witness-vs-nypd-cops-in-new-ponzi-link/.

Morrison Cohen is returning to familiar territory, having represented major investors in the Madoff and the Bayou Ponzi schemes.