Chosnek v. Rolley

OPINION

FRIEDLANDER, Judge.

A Ponzi scheme is a type of fraud involving a series of investors in which the resources of the later investors are used to fund obligations to the earlier investors, resulting in a pyramiding of the liabilities of the investment enterprise. This action essentially involves a dispute between two victims of such a scheme. The entities and individuals to which the investments were entrusted were Steven Whaley and his "wife Teddi Whaley, P & M Price Data, Inc. (P & M) and Commodity Management Plus, Inc., (CMP) (unless otherwise specified, we will henceforth refer to…