In The News
Ex-Villanova star Bekkedam: 'Gratifying' end for Ponzi claims
By Joseph N. DiStephano
February 15, 2012
The Philadelphia Inquirer
Barry R. Bekkedam and his former Radnor-based investment firm, Ballamor Capital Management, said in a statement today that "all claims asserted against Bekkedam and Ballamor in the Scott Rothstein multi-million dollar Ponzi scheme case have been dismissed by investors." Bekkedam, a former Villanova University basketball star, and his firm were defended against the investor suits by Duane Morris partners Matthew Taylor of Philadelphia and Harvey Gurland of Miami. Bekkedam and Ballamor were sued over their role in one of the largest Ponzi schemes in Florida history. Rothstein, a Fort Lauderdale lawyer, enticed investors to invest in confidential settlements that his law firm had supposedly negotiated for plaintiffs. Bekkedam, who referred clients to Rothstein, "believed that Rothstein was offering a legitimate investment opportunity." Rothstein was later charged and convicted of fraud and is serving a 50 year prison sentence. “It is very gratifying to get back my good name," Bekkedam said in his statement. “I sympathize completely with my fellow victims in this terrible deception. All of us were cruelly swindled by Rothstein." He noted Ballamor "did not survive" the Rothstein collapse.
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Reprinted by permission.