More than 130 investors bilked in the Gina Champion-Cain Ponzi scheme finally received court approval for settlements of their lawsuits against Chicago Title — paving the way for the return of more than 70 percent of the money that they lost in the high-profile scam.
The settlement for the largest group of about 80 investors was cleared on June 3 by U.S. District Court Judge Larry Burns, who is overseeing the case.
Known as Atherton investors, they reached an agreement with Chicago Title in March that the Union-Tribune reported at the time. But objections to certain details of the settlements from a court-appointed receiver, who is working to recover funds from the scam, delayed final court authorization until recently.
The Atherton investors settled with Chicago Title for a total of $22.6 million, which represented the highest percentage recovery that Chicago Title has agreed to pay to date in any of the related investor lawsuits.
“There is a real…