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 Ponzi schemes

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updated Sat. June 24, 2017

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The former owner of a "We Buy Ugly Houses" franchise admitted in federal court this week that she mislead investors, misused investors' money, forged investors' signatures on deeds, and ran what amounted to a real estate Ponzi scheme. According to the ...
President Donald Trump's former campaign chairman, Paul Manafort, poured millions of dollars into real-estate deals brokered by his son-in-law, Jeff Yohai.

Christchurch earthquake advocate accused of pushing clients towards Ponzi scheme ... The Serious fraud Office has laid charges against two men over the BlackfortFX operation, which raised $9m for a fictitious foreign exchange operation in 2014/15 ...
Martin Sigillito, the former St. Louis Attorney who was convicted in 2011 for his involvement in a $52 million Ponzi scheme, is 7 years into a 47-year federal sentence, but the Eight Circuit for a second time just decided that many of his investors ...
A 25-year-old Lyndhurst man was sentenced to 46 months in prison after pleading guilty to charges connecting him to a $1.5 million Ponzi scheme in which 100 victims lost thousands. Omar Hafez, 25, formerly of North Arlington, was sentenced Thursday in ...
Fallen Victorian racing identity Bill Vlahos scammed more than $120 million from members of his punting club through what was essentially a Ponzi scheme, ...

Fallen Victorian racing identity Bill Vlahos scammed more than $120 million from members of his punting club through what was essentially a Ponzi scheme, a court has heard. Vlahos faced the Melbourne Magistrates' Court on Thursday accused of ...
A case spawned by the nearly $4 billion Tom Petters Ponzi scheme is gearing up for a bankruptcy court trial in West Palm Beach.
Scott calls his family, and an unknown number of others in similar circumstances, "collateral damage" from Roop's schemes and the state's efforts to compensate his investors. ... In raising more than $1.6 million from at least 25 investors, Roop ...
The state's Pardon and Parole Board has denied commutation for a Shawnee man convicted in 2004 of bilking more than $8 million from 160 area investors.
... sales were held in cash management accounts or investments had been purchased. The SFO claims that Mr Hibbs used investors' funds for purposes other than required - he used clients' funds to make payments of capital or investment returns to other ...
Press Release - The Johannesburg Specialized Commercial crimes Court had on Monday, 19 June 2017 denied Ntokozo Myles Ndlovu bail on his R5 million ...
Man charged Monday in a fatal Charlotte hit and run is a former Belmont businessman who was found guilty of orchestrating a Ponzi scheme in 2014.
But then again, Ponzi schemes are standard operating procedure in the City of Los Angeles as Mayor Garcetti and the Herb Wesson led City Council are already burdening the next generation of Angelenos with tens of billions in unfunded pension ...
Man who ran what was alleged to be significant Ponzi scheme in which investors were told at least $20m was missing has been charged by SFO.
Paul Hibbs is due to reappear in the Christchurch District Court next month. Photo / 123RF. NZ Herald. Share via email facebook share Share on Facebook ...
In May, three government departments joined forces to combat the Ponzi scheme. The interior, economy and justice ministries have received complaints from 7,430 people across Cambodia, according to Ngy Chanphal, secretary of state at the Interior ...

The U.S. Justice Department seems to be getting a little closer to compensating the victims of Bernie Madoff's huge Ponzi scheme. After the collapse of Madoff's massive scam in 2008, the Department of Justice set up a Madoff victim fund to get money ...
As a group of 15 consortium members from seven European countries initiates a project to curtail criminals and attackers from using Blockchain technology, the head of Aidos coin (ADK) believes the law enforcement initiative would only target dark ...
Officers from the Ministry of Interior's Central Security Department yesterday arrested two employees of the Empire Big capital (EBC) company, whose investment scheme allegedly defrauded thousands nationwide. Sin Vireak, the Phnom Penh deputy ...
Former Edmonton businessman Jay Peers, a key part of one of the biggest securities frauds in recent Alberta history, is shown at a 2011 creditors meeting.
In May, three government departments joined forces to combat the Ponzi scheme. The interior, economy and justice ministries have received complaints from 7,430 people across Cambodia, according to Ngy Chanphal, secretary of state at the Interior ...
On Thursday, provincial court Judge Fred Day sentenced Jeremy (Jay) Peers to three-and-a-half years in prison, more than a year after the businessman's guilty plea to 11 charges under the Alberta Securities Act, including two counts of perpetrating a ...
Stephen J. Hatch, 68, pleaded guilty to one felony count of fraud and was sentenced on June 9 to five years in prison. As part of the plea deal, prosecutors agreed not to charge his children.
A decision is awaited after a commutation hearing was held Monday for Merl William Hickman Sr., the Shawnee man convicted in 2004 of bilking more than $8 million from 160 area investors.
I write about many different kinds of scams in these columns and offer advice on how to avoid becoming a victim. It's not often they're home-grown like the subject of this column.
The Enforcement Directorate (ED) on Monday attached assets worth Rs 207 crore of a Pune-based firm, Samruddha Jeevan Foods India Ltd and its promoter, who allegedly ran a Ponzi scheme and raised over Rs 3,500 crore from at least 20 lakh investors ...
Cybersecurity researchers now call it Popcorn Time, an attack last year that was the first attempt to combine a Ponzi, or pyramid scheme, with malware that holds a computer hostage for payment.
Just a few weeks ago Hamish Douglass, the CEO at funds group Magellan, made the headlines with an extraordinary outburst against Uber, the company rather than the actual riding service.
Merl William Hickman Sr., the Shawnee man convicted in 2004 of bilking more than $8 million from 160 area investors, is currently serving a 160-year prison term but will go before the Pardon and Parole Board Monday in an attempt to reduce his sentence.
Real estate investor Jona Rechnitz was allegedly involved in a Ponzi scheme around the sale of "Hamilton" tickets, a revelation that could jeopardize a probe into New York City Police Department corruption, in which Rechnitz is a key witness.
The attack late last year was, according to the cybersecurity researchers who discovered what they now call the Popcorn Time ransomware, the first Ponzi scheme for one of the Internet's oldest types of cyberattacks. Ransomware, a type of malicious ...
investors were paid $49 million in returns, but another $31 million was spent or held by the Ponzi scheme's operators. The operators held just $2.5 million when the U.S.
Federal Prosecutors said a local attorney's lone mistake and penalty should serve as a warning...
An Allston man was charged by state securities regulators with defrauding investors out of millions of dollars for personal benefit over the past decade.
A Minneapolis salesman who peddled investments in foreign currencies on the radio failed to convince a federal judge that his conviction in a $194 million Ponzi scheme should be overturned because his attorney had conflicts of interest. Patrick Kiley ...
The couple filed suit in May, but have since, "learned that Phoenix is in effect operating a 'Ponzi scheme,' apparently using monies received from one client to address other clients' long-standing complaint as well as to fund his lavish lifestyle and ...
The United States Attorney's office says Randy Miland, 63, was convicted Wednesday of one count each of mail fraud and money laundering.
He then used their money for personal expenses and to pay other investors dividend checks, authorities said. The Ponzi scheme collapsed in 2012, and investors lost more than $289,000. Dyson, 67, was convicted of mail fraud, and U.S. District Judge ...
... 90 months in federal prison for operating a Ponzi scheme that aimed to steal more than $500,000 from purported investors, according to the Minnesota Department of commerce.
Former Sotheby's Specialist Faces Extradition to US Over 'Ponzi scheme' Worth Millions. The British dealer Timothy Sammons is in hot water with American authorities for alleged art fraud. Sarah Cascone, June 7, 2017. Vincent van Gogh, Cows in the ...
"This guy is going to have people committing suicide over this," said Laura Cramer, who stands to lose nearly $200,000 in the alleged Ponzi scheme. "I cry every day - three times a day sometimes," said a real estate company owner who is identified in ...
Overland Park-based law firm Kuckelman Torline Kirkland retrieved a $65 million settlement for victims of one of the largest Ponzi schemes in history. Perpetrated by R. Allen Stanford, the $7 billion Ponzi scheme defrauded nearly 30,000 investors and ...
It was the first attempt to combine a Ponzi, or pyramid scheme, in which one person entraps another, with malware that holds a computer hostage for payment.
Former GAW Miners creator Josh Garza faces a $12 mln fine for running what lawmakers have certified was a "Ponzi scheme." Garza, who was charged with securities fraud in 2015 and is also facing separate criminal proceedings for running the fraudulent ...
bitcoinccpubdomain.jpg File Photo. The US Securities and Exchange Commission (SEC) has won a legal battle against GAW Miners and Zen Miners resulting in the now defunct companies shouldering the responsibility of $12 million in damages.
The alleged pyramid scam involves new members 'donating' money in bitcoin (0.01 BTC or $25) with promised returns of 67.76 BTC (approx.
While in the Ponzi scheme investors are expected to enjoy regular high returns from their investment, the pyramid scheme tends to offer steady "profits" on the basis that the number of investors continues to increase. In both schemes, it is self ...
Merl William Hickman Sr., the Shawnee man convicted in 2004 of bilking more than $8 million from 160 area investors, is currently serving a 160-year prison term but will go before the Pardon and Parole Board on June 12.
Jason Nissen, a 44-year-old Roslyn resident and former math teacher, was arrested and charged in Manhattan federal court Wednesday for allegedly running a $70 million Ponzi scheme. prosecutors ... Nissen is now charged with wire fraud. This could carry ...


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