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 Ponzi schemes

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updated Sat. April 29, 2017

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Nemelee Liwanag Jiao, a Dallas-area nurse, was indicted by a federal grand jury on two counts of wire fraud related to a fraudulent Ponzi-style investment scheme she allegedly operated, resulting in the defrauding at least 35 "investors" of more than ...
Furthermore, Bank Negara says people who choose to invest in such schemes or illegal financial service providers have no consumer protection under the laws administered by Bank Negara.

When it comes to investing money, the surest investment in Malaysia is your Employees Provident Fund (EPF) account. The EPF is mandated by law to pay a ...
An insurance company owner from Swissvale admitted Thursday that he ripped off 80 investors of some $8.2 million over two decades in what a Federal Prosecutor said was one of the largest Ponzi schemes in the history of Western Pennsylvania. John Hogan ...
... are dismayed, others continue to show support, no doubt hoping that they do indeed get their money back. And in case you were wondering, JJPTR still holds a 4.7-star rating on facebook.
NEW YORK (Reuters) - A federal judge on Wednesday issued a preliminary injunction freezing assets belonging to the alleged operators of a Ponzi scheme centered on the resale of tickets to the Broadway blockbuster "Hamilton," concerts by British singer ...

Sussex grand jury hands down theft, fraud indictments on Matthew Krimm, former Rehoboth resident.
An Irving woman was indicted last week, accused of devising a $1 million Ponzi scheme that lasted more than seven years and fooled 35 investors.
Court documents show that Barnes had falsely promised investors a 700% return on investments made in TAC, which, in reality, operated solely as a pyramid scheme in which initial investors were paid with money from later victims. The scheme occurred ...
A Delaware mortgage loan officer ran a Ponzi scheme that bilked more than $1.69 million out of investors who thought they were investing in a "highly successful" mortgage business, the Securities and Exchange Commission and the Delaware Department of ...
CFTC officials report that they have filed a civil enforcement action charging Robert Leland Johnson IV and Marisa Elena Johnson, both of Chino, Calif.
Chief Judicial Magistrate sends the 18 accused to judicial custody.
The SouthPark mansion of the late Rick Siskey, who has been accused of running a Ponzi scheme that cost investors millions, has been listed for sale, ...
A Michigan man was sentenced on Tuesday to nearly three years in federal prison for operating a multi-million dollar internet Ponzi scheme that claimed at least 10,000 victims worldwide, including in the Charlotte area, prosecutors said. Troy Barnes ...
The Navi Mumbai police on Sunday arrested 18 people for allegedly organising a seminar on Ponzi scheme. ... This particular company has no registration with the RBI nor does it have any licence for running such financial schemes promising high returns.
"Penangites are always interested in taking part in such investment schemes to make fast money." Penang, any response? Word to the wise: if your investment promises 20 percent returns every month, you might want to Google PONZI + SCHEME before you ...
(KUTV) A Utah County man accused of running a multi-million dollar Ponzi scheme is expected in court today. Federal officials said Rick Koerber stole millions of investor's dollars.

... A Cape Flats pastor accused of running a multi-million Ponzi scheme has lost his first round in court after a judge ordered that R100 million in funds be handed back to his "investors".
Navi Mumbai: The Navi Mumbai police on Sunday arrested 18 people for allegedly organising a seminar on Ponzi scheme. The seminar in Juinagar urged the ...
According to a speech by former SEC Enforcement Director Andrew Ceresney, Ponzi schemes and offering fraud are the types of cases where whistleblower assistance is especially critical.
The reign of fraudulent investment operations known as Ponzi schemes is far from over in Nigeria, as the new face of advance-fee fraud has taken charge of the nation's cyber-space, promising riches and more, with far more reaching consequences ...
The reign of fraudulent investment operations known as Ponzi schemes is far from over in Nigeria, as the new face of advance-fee fraud has taken charge of the nation's cyber-space, promising riches and more, with far more reaching consequences ...
Cape Town pastor Colin Davids, accused of being behind a Ponzi scheme, appeared in the Bellville Magistrate's Court on Wednesday after being granted R100 ...
"Instead of fulfilling promises of investments, investors were largely swindled out of their money in a Ponzi scheme which directly enriched Alleca," said U.S.
An Orem man accused in an intricate Ponzi scheme worth tens of millions of dollars has pleaded guilty to a fraud charge.
may have buyers excited about rock-bottom prices for home goods, but its business model is unsustainable, Citron research analyst Andrew Left says.
Between 2011 and 2015, Tan raised at least $30 million through the Ponzi scheme, without actually investing that money in real business, according to the securities commission.
Salt Lake City - A Draper man who told investors he was a faithful member of the LDS Church has admitted to securities fraud in a plea deal with Federal Prosecutors. A federal grand jury last December indicted Andrew D. Kelley, 41, on seven counts of ...
Paul Hibbs, pictured in 2001, was last year named as being under investigation by the Serious fraud Office (SFO) and financial markets Authority (FMA).
Blank Rome, Cozen O'Connor and global real estate firm Cushman & Wakefield claim they're being targeted for their deep pockets because an incarcerated ...
For victims of Blue Mountain consumer Discount Co., a Slate Belt Ponzi scheme, a judge's ruling of more than $6 million in damages will provide vindication in a years-long battle, their attorney said Wednesday.
A Draper man who told investors he was a faithful member of the LDS Church has admitted to securities fraud in a plea deal with Federal Prosecutors.
A West Vancouver woman has admitted in a settlement agreement with the B.C. Securities Commission that she fraudulently raised at least $30 million from investors in a Ponzi scheme. Virginia Mary Tan, in her mid-60s, has agreed to a $3-million penalty ...
Mumbai: Sukesh Chandrasekar, an agent arrested by Delhi police in a bribery case, is a known by Mumbai police for cheating investors.
Chennai: The Income tax department on Wednesday launched searches at about 80 locations in Tamil Nadu, Karnataka and Kerala in connection with a tax evasion case.
South Florida attorneys are topping off seven years of litigation that sought to recover funds for victims of a precious metals company's Ponzi scheme with a $17.4 million summary judgment against the company's founder. Miami-Dade Circuit Judge John ...
A group of investors who put up $20 million in a Brooklyn real estate deal are accusing landlord Cheskel Strulowitz of a Ponzi scheme that cost them $90 million in damages. The investors - including Jacob and Benjamin Schonberg, Binyomin Halpern and ...
Five Slate Belt families who lost their wealth in a Ponzi scheme have been awarded $6.5 million by a Northampton County judge - though whether they'll be ...
Precious metals fraud is all too common, as noted by Third District Court of Appeal Judge Vance Salter in a 2012 ruling in the Global Bullion case.
Chennai: The Income tax department on Wednesday launched searches at about 80 locations in Tamil Nadu, Karnataka and Kerala in connection with a tax evasion case.
Daily Trust: About 109 Ponzi schemes and crypto-currency sites are still trending in the Nigerian cyber sphere despite the crash of the popular Mavrodi Mundial ...
But he did trust him with hundreds of thousands of dollars, becoming one of many victims of what federal investigators allege were a series of Ponzi schemes and frauds that played out over decades in Florida, New York and Massachusetts. The friend ...
By literal definition, a Ponzi scheme is a form of fraud in which an operator pays returns to its initial investors by harvesting capital from later investors.
After the MMM Ponzi scheme lost it's momentum, something inevitably happened, other Ponzi schemes sprung up in its place.
A covenant is a written agreement or promise usually under seal between two or more parties especially for the performance of some action.
"either one of the great Ponzi schemes of all time or it's gonna work out." He also said of CEO Elon Musk: "You have to tip your hat that he's created a brand that has a strong, cult-like following.
KNOXVILLE (WATE) - A former East Tennessee preacher has been indicted on charges of fraud and money laundering. WATE 6 On Your Side has been following for several years the story of Roger Williams and the investment ventures he operated.
HINGHAM, Mass. (AP) - A Massachusetts man has pleaded guilty to a federal charge for running what a state official described as a "classic Ponzi scheme." The Patriot Ledger reports that Stephen S. Eubanks pleaded guilty to one count of wire fraud in ...
They are allegedly involved in a Ponzi scheme that revolves around a virtual currency called "wuxingbi," or "five phases money.
A Massachusetts man has pleaded guilty to a federal charge for running what a state official described as a "classic Ponzi scheme." The Patriot Ledger reports (http://bit.ly/2p5v3z3 ) that Stephen S. Eubanks pleaded guilty to one count of wire fraud in ...


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