Seabolt Quoted on Promissory Fraud/Ponzi Schemes

Foley Partner Scott Seabolt was quoted in an article titled “Fending off frauds” in the August 14, 2009 issue of the Detroit Legal News. Seabolt discusses the increase in litigation work to fend off fraudulent promissory notes and Ponzi schemes in the down economy, noting that fraudulent schemes are difficult to cover up when the market suffers because the schemers have a harder time continuing to provide investors with positive results. He adds that investors and regulatory agencies such as the SEC are paying closer attention to theses schemes and are becoming more active in looking into questionable financial transactions.