(512) 495-1400

John Thomas Earned Significant Victory in Securities Fraud Case

George, Brothers, Kincaid & Horton, LLP partner John Thomas earned a significant victory on March 4, 2016 when the Texas Third Court of Appeals affirmed judgments Mr. Thomas had obtained in a securities fraud case.  See, James Poe, Senior Retirement Planners, LLC v. Eduardo Espinosa in his Capacity as Receiver for Retirement Value, LLC, No. 03—4-00518-CV (Texas Court of Appeals, Third District, at Austin, March 4, 2016); Salvatore Magaraci and Estate Protection Planning Corporaation v. Eduardo Espinosa in his Capacity as Receiver for Retirement Value, LLC, No. 03—4-00518-CV (Texas Court of Appeals, Third District, at Austin, March 4, 2016).  The defendants, James Poe, Senior Retirement Planners, LLC, Salvatore Magaraci and Estate Planning Corporation had asserted the evidence against them was insufficient and that they were entitled to certain settlement credits.  The Court of Appeals rejected all of their claims.  Significantly, the court strengthened the line of cases holding that sales agents must return commissions they receive in a fraudulent scheme, regardless of whether it meets all the requirements of a true Ponzi scheme.  This victory will allow the receiver for Retirement Value to return more funds to defrauded investors.

George Brothers Kincaid & Horton LLP

George Brothers Kincaid & Horton LLP 114 West 7th Street, Suite 1100 | Austin, Texas 78701 | Austin Law Office Map

2015 Best Law Firms | US News | Best Lawyers Super Lawyers