Monday, October 29, 2012

FORMER ATLANTIC RIM FUNDING ATTORNEY DODGES THE BULLET



For those readers who are following the civil suits against Advance Fee/Ponzi scheme fraudster Steven "Dean" Kennedy, and his insolvent company, Atlantic Rim Funding Corp., a United States Bankruptcy Judge in The Eastern District of Pennsylvania has dismissed the pending Adversary Proceeding pending there. The Court found that, due to the dismissal of the underlying bankruptcy proceeding, of Land Conservancy of Elkins Park, it no longer had jurisdiction.

The court specifically ruled, in the Order of Dismissal. that the $3.1m final judgment, previously entered against Dean Kennedy and Atlantic Rim Funding Corp. was in no way affected. Fortunately for defendant J.(Jay) "Mac" Rust, Atlantic Rim's former attorney, the claims against him, which were still pending, have been dismissed. Rust no longer represents either Atlantic Rim, or Kennedy, and regrets that he was ever involved with the company. Was he also a victim of Dean Kennedy's massive fraud ? We cannot say, but we are waiting for the criminal justice system to catch up with Mr. Kennedy (whatever his real name is), and impose the appropriate penalties. Will Rust be charged ? Stay tuned to this blog for updates.






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