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Ponzi Scheme Investors May Sue

Investors who lost billions in a notorious Ponzi scheme run by Texas financier Allen Stanford are lucky, it turns out, that the CDs they purchased were not "covered securities."

That's because the Supreme Court ruled 7-2 Wednesday that a law intended to assert federal jurisdiction over most securities fraud claims -- which would deny investors relief in state courts -- refers specifically to real, and not imagined, investments.

For more on this story visit: Richard Wolf, USA Today



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