There is really no way to tell how long it will take. You have provided very little information regarding the case so I will provided some generic information to think about. First and foremost, if the hedge fund wins the suit there is no guarantee that the "Ponzi Scheme" will have the money to pay the fund. Without cash, the scheme's assets, can be sold. Again, there has to be something of value to actually sell. Since the people running the Ponzi scheme know it is a crime, there is a good chance the cash money is hidden, possibly in other countries. Bottom line, there are many factors that will determine how long it will be to recover the money. It my take years, if ever.
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It is not uncommon for a lawsuit to go on for a year or more. Again, it depends on the complexity of the dispute and the willingness of the parties to agree on a settlement. If both sides are willing to compromise, the whole lawsuit could be over in a matter of months. However, many lawsuits take much longer.
After the initial lawsuit is filed, both sides are allowed time to file several additional documents before even stepping foot in a courtroom. The discovery phase of litigation is where the parties inspect each other's documents and interview each other under oath. This can take months, or more, depending on how much information needs to be gathered. Trial preparation again also can take months, as the parties hash out what evidence or expert witnesses will be allowed. Even if both parties agree to negotiate, reaching a settlement can take anywhere from a day to several months
Fraud can be committed through many media, including mail, wire, phone, and the Internet (computer crime and Internet fraud). International dimensions of the web and ease with which users can hide their location, the difficulty of checking identity and legitimacy online, and the simplicity with which hackers can divert browsers to dishonest sites and steal credit card details have all contributed to the very rapid growth of Internet fraud. In some countries, tax fraud is also prosecuted under false billing or tax forgery
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