Bankruptcy Plan to Repay Ponzi Scheme Victims Wins Court Approval

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May 27, 2021, 8:50 PM

Victims of Kenneth Casey’s multimillion dollar Ponzi scheme are a step closer to getting some of their money back after a bankruptcy court approved a Chapter 11 restructuring plan for the late real estate mogul’s companies.

The plan, approved Thursday, will pool the assets of the companies’ bankruptcy estates and appoint a trustee to distribute proceeds equally among all investors.

More than 2,000 investors in Casey’s bankrupt companies—Professional Financial Investors Inc. and Professional…

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