Disgruntled Judah investors get their day in court Monday - KCBD NewsChannel 11 Lubbock

8/29/10

Disgruntled Judah investors get their day in court Monday

By James Clark | email

LUBBOCK, TX (KCBD) - Twenty of Benny Judah's former investors are not happy with the plan to partially reimburse them for their losses.  They get a chance Monday morning at 9:00 AM to say so in Lubbock federal court. 

Judah is currently serving prison time for charges related to a Ponzi scheme.  Prosecutors say roughly 250 investors, mostly from Lubbock, stand to lose most of their money.  A court-appointed Receivership Trustee seized Judah's many Lubbock businesses and real estate.  One by one they're being sold off to repay investors but it won't be nearly enough to cover the $50 million or so that Judah took from them. 

The receiver filed a plan in court records to partially pay back the investors. Court records say, "all but 20 agreed with the Receiver's claim determination."

Monday's hearing will be "to take evidence and hear argument regarding the motion [to partially pay back the investors]."  KCBD NewsChannel 11 will have an update after the hearing.

Copyright 2010 KCBD.  All rights reserved.

  • Local News on KCBD.comNewsMore>>

  • EU fines Google a record 2.42 billion euros

    EU fines Google a record 2.42 billion euros

    Tuesday, June 27 2017 5:54 AM EDT2017-06-27 09:54:09 GMT
    Tuesday, June 27 2017 6:24 AM EDT2017-06-27 10:24:33 GMT

    The European Union's competition watchdog has slapped a record 2.42 billion euro ($2.72 billion) fine on internet giant Google for breaching antitrust rules with its online shopping service.

    The European Union's competition watchdog has slapped a record 2.42 billion euro ($2.72 billion) fine on internet giant Google for breaching antitrust rules with its online shopping service.

  • Ruling in travel ban leaves myriad questions unanswered

    Ruling in travel ban leaves myriad questions unanswered

    Tuesday, June 27 2017 3:53 AM EDT2017-06-27 07:53:13 GMT
    Tuesday, June 27 2017 6:23 AM EDT2017-06-27 10:23:57 GMT

    The Supreme Court's ruling to allow President Donald Trump's travel ban go forward in part leaves more questions than it answers.

    The Supreme Court's ruling to allow President Donald Trump's travel ban go forward in part leaves more questions than it answers.

  • SpaceX launches 10 satellites from California air base

    SpaceX launches 10 satellites from California air base

    Sunday, June 25 2017 11:52 AM EDT2017-06-25 15:52:28 GMT
    Tuesday, June 27 2017 6:15 AM EDT2017-06-27 10:15:45 GMT

    SpaceX is going for a weekend double-header with a planned launch from Vandenberg Air Force Base, California, just two days after a successful satellite launch from Florida.

    SpaceX is going for a weekend double-header with a planned launch from Vandenberg Air Force Base, California, just two days after a successful satellite launch from Florida.

Powered by Frankly