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Palm Beach Finance can pursue $1B Ponzi claim vs. GE Capital

Compton's first Latino lawmaker finally submits finance forms

At a billion dollars, the Palm Beach Finance claim against GE Capital is one of the largest Ponzi recovery actions ever filed. Michael Budwick , an attorney working on the case, said Palm Beach Finance intends to seek punitive, or treble, damages. aThe court finds that the plaintiff sufficiently alleges the elements of a claim for civil conspiracy to commit fraud,a Hyman wrote in his 60-page order. Hyman dismissed eight other counts in the case, but the civil conspiracy claim is a key part of the suit. Petters, of Minneapolis, is serving 50 years in prison for running the third-largest Ponzi scheme in U.S.

Market Chatter-Corporate finance press digest

government housing finance authorities are pressing JPMorgan Chase & Co for at least $6 billion to settle lawsuits over bonds backed by subprime mortgages, according to a person familiar with the matter. * Billionaire Roman Abramovich is close to buying one of the biggest top-end office complexes in Moscow for up to $800 million in what would be Russia's second-largest office deal, three sources told Reuters. * KKR & Co and TPG Capital are out of the running in the auction for Hutchison Whampoa Ltd's Hong Kong supermarket chain ParknShop, people close to the matter told Reuters, after their offers failed to meet the company's expectations. * BlackBerry Ltd is considering spinning off its messaging service into a separate unit, the Wall Street Journal said on Tuesday, quoting people familiar with the matter.

In a separate case, he was convicted on two misdemeanor counts of sending out misleading campaign fliers. Compton's Latino residents have been trying for decades to get a Latino candidate elected to city office. So it was a joyous moment for some when Galvan won a seat on Compton's City Council in June. But a few weeks into his term, some are having misgivings about the councilman. Galvan had failed to file any of the required campaign finance disclosures for the primary and runoff elections.

Oxford Finance Provides $5.5 Million Revolving Line of Credit to PrimeSource Healthcare Systems, Inc.

For over 20 years, Oxford has delivered flexible financing solutions to its clients, enabling these companies to maximize their equity by leveraging their assets. In recent years, Oxford has originated over $2 billion in loans, with lines of credit ranging from $500 thousand to $50 million. Oxford is headquartered in Alexandria, Virginia, with additional offices in California, Illinois, Massachusetts and North Carolina. For more information visit www.oxfordfinance.com . About PrimeSource Healthcare Systems, Inc.

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