Lowell v. Brown

MORRIS, District Judge.

These six suits in equity were brought by the plaintiffs, who are the trustees in bankruptcy of one Charles Ponzi, to recover of the defendants sums paid them by the bankrupt within four months prior to the filing of the petition in bankruptcy, which paj^ments the plaintiffs allege constitute unlawful preferences. The actions were tried together in the District Court and argued together in this court.

The transactions involved are simple. Each defendant turned over to the bankrupt a sum of money as an investment. Shortly thereafter all became satisfiéd that Ponzi was…