Seiden Law Group Granted Emergency Order in New York Bankruptcy Court to Recover Funds from Alleged Ponzi Schemer Michael Greenfield on behalf of Israeli Court Appointed Trustee Adv. Lior Dagan

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NEW YORK, Aug. 5, 2021 /PRNewswire/ -- Bankruptcy Judge Honorable Shelley Chapman granted a powerful court order today based on the filing of Seiden Law Group LLP in a Chapter 15 case in US Bankruptcy Court in Manhattan seeking recognition of an Israeli insolvency proceeding against Michael David Greenfield aka Michael Ben-Ari ("Greenfield").  Greenfield, who has recently been dubbed by Israeli media as "the Israeli Madoff," is under criminal investigation by the Israeli Securities Authority following an alleged 15-year long Ponzi scheme in which Greenfield, through his investment vehicle EGFE Israel Ltd., ensnared hundreds of American and Israeli victims and caused losses that may exceed $150 million.  The Court Order grants broad powers to the Israeli court appointed Trustee Adv. Lior Dagan, represented in the U.S. by Seiden Law Group, to recover assets in the United States that are identified as fruits of the alleged criminal enterprise. According to the Chapter 15 filing, Greenfield moved to Israel from the U.S. thirty years ago and began to solicit investment money in Israel from investors in a "guaranteed" return investment scheme. The Chapter 15 filing explains that after being released under house arrest in Israel, Greenfield immediately absconded, reportedly using a false passport, and has concealed his current whereabouts. The case has been referred to the FBI's New York office. Seiden Law Group represents Mr. Dagan who has been appointed by the Israeli court and leads global efforts to recover the alleged stolen money. Seiden Law Group is a globally recognized law firm leader in fighting 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