When a federal judge dismissed receiver Jonathan Perlman’s lawsuits against banks whose accounts were used in a $68 million Ponzi scheme, the Miami lawyer worried he would never win substantial recovery for the victims.
The Genovese Joblove & Battista partner estimated the chances of winning reversal at the U.S. Court of Appeals for the Eleventh Circuit at less than 1 in 10. And because Ponzi schemer George Theodule had only $28,000 in his accounts when he was caught, Perlman’s firm would have to take the two appeals without pay.
