October 22, 2014

OGO obtains $500K judgment against serial financial predator

In October of 2014, O’Mara Gleason O’Callaghan obtained a $500,000 judgment against a serial financial predator after our client, a Chicago-area physician, was swindled out of $500,000.

The Ponzi scheme was run by a man who claimed to be selling securities in a Middle Eastern sovereign wealth fund, but who used the money to fund a lavish lifestyle that included exotic travel, high-end hotels, and luxury cars.

We sued the man on behalf of our client and obtained a $500,000 judgment against him.

We also provided key evidence to the Illinois Secretary of State Securities Department’s Enforcement Division and the Cook County State’s Attorney's Office Special Prosecutions Bureau.

The serial financial predator was arrested in the fall of 2016 on charges related to the securities scheme and is now awaiting trial.
 

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