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Public Statement

 
 

Statement on Verdict in Jury Trial of Fund Manager Involved in Petters Ponzi Scheme

Andrew Ceresney
Director, SEC Division of Enforcement

Feb. 11, 2014

"We’re very pleased the jury found Marlon Quan liable for securities fraud and that he will be held accountable for his deception in funneling several hundred million dollars of investor money into the Tom Petters Ponzi scheme.

“Facilitators of Ponzi schemes are just as culpable and harmful to investors as those who are conducting the schemes, and we thank the jury for sending that message in its verdict."

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Note:

The jury’s verdict came today following a two-week trial in federal court in Minneapolis.

More Information:

March 2011 - SEC Blocks Attempt by Fund Manager to Divert Funds From Victims of Petters Ponzi Scheme

Modified: Feb. 11, 2014