Investors in Diversified Lending Group Still Retain Right to Recover Their Losses

Posted on January 23rd, 2015 at 11:36 AM
Investors in Diversified Lending Group Still Retain Right to Recover Their Losses

From the Desk of Jim Eccleston at Eccleston Law Offices:

A class action certification bid on behalf of 212 investors who were the victims of an alleged Ponzi scheme recently was rejected by a California Superior Court.

Tony Russon, a former broker with MidAmerica and New England Financial, and other agents who worked under him at Russon Financial Services, allegedly convinced those investors to spend large sums of money with Diversified Lending Group, Inc., which was run by Ponzi schemer Bruce Friedman.

It has been alleged that MidAmerica and New England Life failed to properly supervise Mr. Russon and others while they were unlawfully convincing investors to place large sums of money with Diversified Lending Group Inc. 

In light of the fact that the class action certification effort has failed, investors now may turn to the FINRA arbitration process to bring claims to recover their losses.

The attorneys of Eccleston Law Offices represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services.

Related Attorneys: James J. Eccleston

Tags: Ponzi Scheme, California Superior Court, Tony Russon, MidAmerica, New England Financial, Russon Financial Services, Diversified Lending Group Inc., Bruce Friedman, FINRA

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