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Legal Services of Greater Miami and Legal Aid Services of Broward County to Receive $193K Cy Pres Award

MIAMI, FL—Legal Services of Greater Miami and Legal Aid Service of Broward County will split nearly $193,000 of unclaimed funds from distributions to class member victims of the Cash 4 Titles RICO criminal enterprise. Each organization shall receive $96,130.33.

Upon the recommendation of co-class counsel Lawrence A. Kellogg of Levine Kellogg Lehman Schneider + Grossman in Miami and Gordon Dobie of Winston & Strawn in Chicago, the Judges overseeing the class action, District Court Judge James Cohen and Magistrate Judge Edwin Torres, ordered that all remaining class funds be divided equally between these two legal aid organizations serving South Florida.

The funds are unclaimed distributions from class action litigation arising from a massive RICO enterprise scheme operated by Cash 4 Titles in the 1990’s. Regulators, which shut down the scam in 1999, said the scheme bilked 2,500 lenders for $315 million. Under the multi-layered marketing scheme, funds loaned to Cash 4 Titles were stolen from lenders and used in a criminal enterprise.

The post Legal Services of Greater Miami and Legal Aid Services of Broward County to Receive $193K Cy Pres Award appeared first on Attorney at Law Magazine.

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