A New York law firm has been sued for fraud and breach of contract by a woman who claims the firm advised her to place substantial funds with a money manager who was operating a Ponzi scheme that collapsed last year. Patricia Romano claims her former lawyers at Cushner & Garvey advised her to invest funds from an $875,000 settlement with purported money manager Edward Stein, who embezzled the funds. Last year Stein was arrested and charged with running a $30 million Ponzi scheme.
N.Y. Firm Sued for Advising Clients to Invest in Ponzi Scheme
New York Law Journal
July 12, 2010