NEW YORK, Aug. 5, 2021 /PRNewswire/ -- Bankruptcy
Judge Honorable Shelley Chapman granted a powerful court order
today based on the filing of Seiden Law Group LLP in a Chapter 15
case in US Bankruptcy Court in Manhattan seeking recognition of an Israeli
insolvency proceeding against Michael David
Greenfield aka Michael
Ben-Ari ("Greenfield"). Greenfield, who has recently
been dubbed by Israeli media as "the Israeli Madoff," is under
criminal investigation by the Israeli Securities Authority
following an alleged 15-year long Ponzi scheme in which Greenfield,
through his investment vehicle EGFE Israel Ltd., ensnared hundreds
of American and Israeli victims and caused losses that may exceed
$150 million. The Court Order
grants broad powers to the Israeli court appointed Trustee Adv.
Lior Dagan, represented in the U.S.
by Seiden Law Group, to recover assets in the United States that are identified as
fruits of the alleged criminal enterprise. According to the Chapter
15 filing, Greenfield moved to Israel from the U.S. thirty years ago and
began to solicit investment money in Israel from investors in a "guaranteed" return
investment scheme. The Chapter 15 filing explains that after
being released under house arrest in Israel, Greenfield immediately absconded,
reportedly using a false passport, and has concealed his current
whereabouts. The case has been referred to the FBI's New York office. Seiden Law Group represents
Mr. Dagan who has been appointed by the Israeli court and leads
global efforts to recover the alleged stolen money. Seiden Law
Group is a globally recognized law firm leader in fighting for
clients to recover stolen money and aggressively resolve business
disputes.
If you or someone you know is a victim of this alleged Ponzi
scheme or any other large-scale fraud, please contact Seiden Law
Group.
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SOURCE Seiden Law Group LLP