GEABP files a $45 million Class Action complaint

GEABP filed a Class Action complaint on behalf of 41 named plaintiffs to represent a class of 500-600 victims in 35 states (other than California) with estimated losses of $45 million from a 15-year Ponzi Scheme that sold the victims non-existent ATM machine, that the Schemers  then “leased back” in exchange for a “rent” payment of  $ .50 on each transaction at the purchaser’s ATM and a guaranteed return of 20% per annum.   GEABP Partner Michael Devorkin is leading the action, assisted by Alex Parachini and Brittany Bettman.

A story that appeared October 3 2017  in Law360 can be viewed here.   (note: to see the article, you must be a subscriber to Law360)

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