Legal Opinion
Picard v. Elbaum
District Court, S.D. New York
Decided February 27, 1989No. 88 Civ. 8023 (MBM)PublishedCited by 8 opinions
1Opinion of the Court
OPINION AND ORDER
MUKASEY, District Judge.
Plaintiff Irving H. Picard, receiver for the estate of David Peter Bloom and Greater Sutton Investors Group, Inc., filed this diversity lawsuit to recoup $39,216.47 paid to defendants Judith and Jerome Elbaum, Connecticut residents, as “profit” on a $10,-000 investment placed with Bloom. As is now public knowledge, Bloom engaged in a scheme whereby funds entrusted to him for investment purposes were diverted to his personal use and expended to purchase works of art, real estate, luxury automobiles, trips, and expensive meals. Bloom also used investors’…
2Cases cited30 opinions
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- Shaffer v. HeitnerSupreme Court of the United States · 1977
- Data Disc, Incorporated v. Systems Technology Associates, Inc.Court of Appeals for the Ninth Circuit · 1977
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3Cited by8 opinions
- Credit Lyonnais Securities (Usa), Inc. v. Rafael Alcantara and Cavelba, S.A., Doing Business as Casa De Bolsa Rafael Alcantara V.Court of Appeals for the Second Circuit · 1999
- Department of Economic Development v. Arthur Andersen & Co. (U.S.A.)District Court, S.D. New York · 1990
- In Re Banco Santander Securities-Optimal LitigationDistrict Court, S.D. Florida · 2010
- Bank Leumi USA v. EhrlichDistrict Court, S.D. New York · 2015
- Newbro v. FreedDistrict Court, S.D. New York · 2004
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