MEDIA

March 1, 2012

Schlam Stone Lawsuit Becomes International News

A lawsuit brought in New York State Court by Schlam Stone & Dolan lawyers John M. Lundin and Samuel L. Butt on behalf of victims of a Ponzi scheme is gaining international press coverage. The Complaint in the lawsuit accuses almost 40 defendants located in Europe, the Far East, the Middle East and the United States of a variety of wrongs, including racketeering, fraud, unjust enrichment, fraudulent transfers and conveyances, breach of fiduciary duty and breach of contract. The focus of the lawsuit is a family of entities named Montague Morgan Slade, MMS and Mo-Mo Mama operated by Britons Anthony Heald and Gordon Spedding and American Michael L. Brown.

The net is closing on several of the key players in the Montague Morgan Slade scheme. As shown in the links below, in December 2011, Defendant Anthony Heald was sentenced to five years in prison in the United Kingdom for an earlier scam. Further, Schlam Stone, which has maintained contact with the British prosecutors who tried Heald, was told at around the same time by those prosecutors that Defendant Gordon Spedding was convicted of fraud in Dubai for his participation in the Montague Morgan Slade scheme. Finally, in January 2012, Plaintiffs were awarded judgment on their breach of contract claims against Defendants Montague Morgan Slade, Ltd. and Montague Morgan Slade 1095 Fund PLC.

On February 29, 2012, Plaintiffs and Defendant Gordon Spedding resolved all of their disputes in this action. Plaintiffs have discontinued all of their claims against Mr. Spedding and he is cooperating with Plaintiffs in their efforts to recover the monies they invested with Montague Morgan Slade Ltd. and other Defendants in this action.

Another Defendant settles with Plaintiffs and agrees to aid Plaintiffs’ recovery effort
On February 29, 2012, Plaintiffs and Defendant Gordon Spedding resolved all of their disputes in this action. Plaintiffs have discontinued all of their claims against Mr. Spedding and he is cooperating with Plaintiffs in their efforts to recover the monies they invested with Montague Morgan Slade Ltd. and other Defendants in this action.

Defendants settle with Plaintiffs and agree to aid Plaintiffs’ recovery effort
On January 26, 2012, Plaintiffs and Defendants Stephen David White and Martin Paul Kinsey resolved all of their disputes in this action. Plaintiffs have discontinued all of their claims against Messrs. White and Kinsey and the two former Defendants are cooperating with Plaintiffs in their efforts to recover the monies they invested with Montague Morgan Slade Ltd. and other Defendants in this action.

Coverage of the case can be found here: