NEW YORK, August 5, 2021 / PRNewswire / – Bankruptcy Judge The Honorable Shelley Chapman today issued a powerful court order based on Seiden Law Group LLP’s filing in a Chapter 15 case in U.S. Bankruptcy Court in Manhattan seek recognition of Israeli insolvency proceedings against Michael david greenfield a.k.a Michael ben-ari (“Greenfield”). Greenfield, who was recently dubbed by Israeli media “the Israeli Madoff”, is the subject of a criminal investigation by the Israel Securities Authority following an alleged 15-year Ponzi scheme in which Greenfield , through its investment vehicle EGFE Israel Ltd., trapped hundreds of American and Israeli victims and caused losses that could exceed $ 150 million. The court order grants broad powers to the Israeli court named Trustee Adv. Lior dagan, represented in the United States by Seiden Law Group, to recover assets in United States which are identified as the fruits of the alleged criminal enterprise. According to the Chapter 15 filing, Greenfield moved to Israel from the United States thirty years ago and began soliciting investment funds in Israel with investors in a “guaranteed” return investment program. The chapter 15 dossier explains that after being released under house arrest in Israel, Greenfield immediately fled, apparently using a fake passport, and hid his current whereabouts. The case was referred to the FBI new York Office. Seiden Law Group represents Mr. Dagan who has been appointed by the Israeli court and leads the global efforts to recover the allegedly stolen money. Seiden Law Group is a world-renowned law firm that fights for clients to recover stolen money and aggressively resolve business disputes.
If you or someone you know is a victim of this alleged Ponzi scheme or any other large-scale fraud, please contact Seiden Law Group.
SOURCE Seiden Law Group LLP