The complicated Racketeer Influenced and Corrupt Organizations (RICO) suit against Qualified Exchange Services (QES) of Montecito and several other corporations tied to former Santa Barbara businessman Donald McGhan has entered new phases: Defendant Medicor-cofounded by McGhan-filed for bankruptcy, defendant UBS Financial Services agreed to a $23 million settlement, and QES filed a new class action suit in coordination with claimants represented by the Hollister & Brace law firm.


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