Court Rules Ex-Wife Will Retain Ponzi Scheme Money

A recent decision made from New York’s highest court is a blow to the federal government, “which is seeking to force a women to disgorge what it says are millions of dollars in stolen money.” This divorce involves Janet Schaberg, and her former husband Stephen Walsh who was arrested in 2009 “on charges that he had defrauded investors of more than $550 million in a 13-year Ponzi scheme.” The government went after Schaberg’s money, claiming that much of the gains “were ill-gotten proceeds from her former husband’s fraud.”

The court dismissed the government’s complaint for reasons that Schaberg had “unknowingly received tainted money in a business transaction,” and awarded her with $7.6 million dollars in cash. Five of the justices applauded the ruling, calling it “the right results for families and society.”

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To read further about the divorce involving Schaberg and Walsh, Read the full article here: The New York Times