United States Ninth Circuit

Summary judgment in favor of bankruptcy trustee, avoiding under 11 U.S.C. section 548(a) and California Civil Code section 3439.04(a) certain transfers made by the debtor during his operation of a Ponzi scheme, is affirmed where: 1) the bankruptcy court did not abuse its discretion in denying appellants-investors' motion for a continuance to conduct further discovery; 2) investors' right to a jury trial was not violated by the grant of summary judgment; 3) the bankruptcy court properly determined that debtor acted with the actual intent to "hinder, delay, or defraud" his creditors; 4) a determination that debtor was not a "stockbroker" under the Bankruptcy Code was proper; and 5) prejudgment interest was properly awarded.

Appellate Information

• Argued 04/11/2008
• Decided 05/06/2008
• Published 05/06/2008

Judges

• T.G. NELSON, Circuit Judge:, Before:  ROBERT R. BEEZER, T.G. NELSON, and BARRY G. SILVERMAN, Circuit Judges.

Court

• United States Ninth Circuit

Counsel

• For Appellant:
  
• Richard M. Moneymaker, Los Angeles, California, for the appellants.


• For Appellees:
  
• John P. Reitman and Peter J. Mastan, Gumport Reitman, Los Angeles, California, for the appellee.