Gina Cook, the wife of acknowledged Ponzi schemer Trevor Cook, received a wire transfer of $103,437 on June 23, 2009, one day after six attorneys and accountants from the SEC began a “surprise” investigation at the scheme’s Minneapolis headquarters and served Trevor Cook with a subpoena, according to the court-appointed receiver in the case.
Receiver R.J. Zayed now has filed a clawback action against Gina Cook, saying the payment was a preferential transfer from the proceeds of her husband’s international Ponzi scheme. Gina Cook is one of 23 parties named in clawback petitions in recent days.
All in all, Zayed is seeking to claw back $112,410 from Gina Cook, saying she also received a preferential transfer of $8,973 on Feb. 23, 2009 — after Trevor Cook knew that Swiss authorities were investigating one of his firms and were in the process of shuttering it.
“[Gina Cook] received payments preferentially over hundreds of other investors who were defrauded by Trevor Cook and unable to withdraw the money they had invested in the Trading Program,” Zayed said.
Gina Cook invested $55,575.52 in her husband’s program, and received back her principal, plus a phantom profit of $56,834.48, according to an exhibit in the clawback action.
She has not been accused of wrongdoing.
“The doctrine of unjust enrichment and the principles of law and equity require that the $112,410.00 received by [Gina Cook] on or after February 23, 2009 be returned to the Receiver for equitable distribution to all defrauded investors and other creditors,” Zayed said.
Any preferential retention of money from the scheme by Gina Cook “violates fundamental principles of justice, equity, and good conscience,” Zayed said.
Read the clawback petition.