South Florida attorneys are topping off seven years of litigation that sought to recover funds for victims of a precious metals company’s Ponzi scheme with a $17.4 million summary judgment against the company’s founder.
Miami-Dade Circuit Judge John Thornton entered the judgment Monday against Jamie Campany, who was sentenced in 2011 to 12 years in prison. Campany admitted his Lake Worth-based company, Global Bullion Exchange LLC, had taken investments from 1,400 people across the country but did not actually buy metals for any particular client. Instead, the company began paying old investors with new investors’ money, resulting in $29.5 million in losses.
