Gary Owen Caris

• Represented Receiver appointed in FTC action against a fraudulent debt counseling company involving $172 million in consumer claims. Successfully litigated contested civil contempt proceedings which ultimately played a key role in the recovery of over $25 million in real and personal property assets diverted and hidden from the Receiver throughout the world, including in Belize and Latvia. Total assets of over $50 million were ultimately recovered. In connection with this receivership, successfully obtained a 4th Circuit order affirming a judgment and holding that the District Court had ancillary jurisdiction in connection with litigation of pure state law claims against third parties. (Robb Evans & Associates LLC v. Holibaugh, 609 F. 3d 359 - 4th Cir. 2010).* Currently represents Receiver in related new FTC action involving the purported fraudulent sale of Belize real estate to consumers in the United States and elsewhere.
• Represented Receiver appointed in FTC action involving fraudulent internet operations resulting in a judgment in favor of the FTC in excess of $280 million. Obtained an order, affirmed at the 9th Circuit, clarifying the scope of the receivership to include an additional 78 entities and the assets of several non-defendants which paved the way for the recovery of an additional $14 million for the estate. Over $31 million in assets were recovered and liquidated during the course of the receivership.
• Represented Receiver appointed in FTC action in connection with a telemarketing operation with a complex web of companies engaged in deceptive marketing practices. Successfully litigated multiple contempt actions and turnover actions to compel return of receivership funds leading to the recovery of substantial assets for the estate. In connection with this receivership, successfully obtained a 5th Circuit order affirming the Receiver’s recovery of assets paid to attorneys obtained from ill-gotten gains. (FTC v. Assail, 410 F. 3d 256 - 5th Cir. 2005)*
• Represented Receiver in FTC action involving $45 million internet credit card fraud, resulting in $37 million FTC judgment. Assisted the Receiver in identifying undisclosed assets of $21 million and obtaining the repatriation of $10 million from the Cayman Islands and nearly $8 million from Vanuatu. The Receiver ultimately recovered over 97% of the amounts taken from consumers.
• Represented Receiver appointed in SEC action involving a 17-year long $150 million Ponzi scheme, at the time considered the longest running Ponzi scheme on record. Successfully brought extensive clawback actions against a multitude of winning investors and assisted in the liquidation of various real and personal property assets.*
• Represented Receiver appointed in SEC action involving a $100 million Ponzi scheme. Assisted in the recovery of over $32 million in diverse real and personal property assets, including ownership interests in fast food restaurants, a hotel and conference center, residential and commercial real properties and undeveloped land. Brought litigation resulting in a successful multi-million dollar settlement to enforce distributorship agreements with a major fast food franchisor.*
• Represents Receiver as co-counsel in SEC and CFTC actions brought in connection with a $1.5 billion Ponzi scheme. Assisted the Receiver in liquidating equity portfolio and brought extensive clawback litigation against winning investors. Defrauded investors have received 100% recovery on their allowed claims.
• Represented Receiver in SEC action involving the last of a series of Ponzi scheme activities undertaken by the wrongdoer. Successfully argued that the activities were part of an ongoing Ponzi scheme for the purpose of asserting an interest in real and personal property subject to multiple civil asset forfeiture actions. Settlement with the United States Attorney and the Asset Forfeiture and Money Laundering Section of the Department of Justice led to the recovery of over $1.7 million which enabled the defrauded investors to receive a return of 19.7% of their investment instead of zero.*

*These matters, in their entirety, occurred prior to joining Barnes & Thornburg.