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Sunday, June 23, 2024 | Back issues
Courthouse News Service Courthouse News Service

Westgate Capital Faces Investor Class Action

MANHATTAN (CN) - Westgate Capital Management and founder James M. Nicholson bilked investors for hundreds of millions of dollars in a giant Ponzi scheme by claiming the company was financially sound, a class action claims in Federal Court. Investors say Westgate claimed its documents were audited by an independent accounting firm that doesn't exist.

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