CENTRAL ISLIP – Following a bankruptcy judge’s sua sponte recusal based partly on his own impartiality, the U.S. District Court in Central Islip has taken charge of mopping up the financial mess left by the orchestrator of a scheme that defrauded investors out of $30 million in nonexistent securities.
Judge Thomas C. Platt sua sponte ordered the liquidation process of New Times Securities Services and New Age Financial Services to move from federal bankruptcy court to district court. The two brokerage companies were operated by William Goren, who pleaded guilty last year to two counts of securities fraud in connection with a 17-year investment scheme.
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