Judge considers revoking bail for NY businessman accused of orchestrating $413M Ponzi schemeOctober 8th, 2009 Judge reconsiders bail for NY man accused of fraudCENTRAL ISLIP, N.Y. — A federal judge is considering a request by prosecutors to revoke bail for a New York businessman accused of orchestrating a $413 million Ponzi scheme.
Judge: Alleged NY Ponzi schemer broke bail rules; sets hearing on whether to re-jail himOctober 8th, 2009 Judge: Accused NY schemer broke bail rulesCENTRAL ISLIP, N.Y. — A federal judge says a New York businessman accused of orchestrating a $413 million Ponzi scheme has violated conditions of his release on bail.
SEC sues Mich. man accused of raising millions in fraudulent scheme involved 1,200 investorsSeptember 30th, 2009 SEC sues Mich. man linked to alleged Ponzi schemeDETROIT — Federal regulators are suing a Detroit-area man who is accused of soliciting millions for the leader of a $250 million financial scam.
Ex-Democratic fundraiser gets 24 years in prison in case that embarrassed Clinton campaignSeptember 30th, 2009 Ex-Democratic fundraiser sentenced to 24 yearsNEW YORK — Former Democratic fundraiser Norman Hsu was sentenced to more than 24 years in prison Tuesday by a judge who accused him of funding his fraud with a "conniving use of the political process."
U.S. District Judge Victor Marrero sentenced Hsu to 20 years in prison for his guilty plea to fraud charges and another four years and four months in prison for his conviction at trial for breaking campaign finance laws.
NY prosecutors suspect adoption Ponzi scheme that promised babies but didn't deliverSeptember 30th, 2009 NY prosecutors suspect 'adoption Ponzi scheme'GARDEN CITY, N.Y. — New York prosecutors are investigating a possible "adoption Ponzi scheme" in which clients were defrauded out of fees for babies who didn't exist.
Feds: 2 men charged in New York with $80 million ATM Ponzi schemeSeptember 21st, 2009 2 men charged in NY with $80 million Ponzi schemeNEW YORK — Two men are charged in New York with an $80 million Ponzi scheme involving an automated teller machine business, federal authorities said Monday. Vance Moore II, 55, of Raleigh, N.C., was arrested Friday in Garner, N.C., and was scheduled for an initial court appearance Monday in the Eastern District of North Carolina.
NY judge signs off on $14.6 million bill from law firm handling liquidation of Madoff's assetsAugust 7th, 2009 NY judge OKs law firm's fees in Madoff liquidationNEW YORK — A judge has approved a $14.6 million payment to a Manhattan law firm working to unravel Bernard Madoff's massive fraud. In a written order Thursday, U.S.
Asset freeze stays put at 2 Detroit-area firms accused of orchestrating $53M Ponzi schemeAugust 4th, 2009 Asset freeze stays put in $53M Mich. fraud caseDETROIT — A judge has kept an asset freeze in place at two Detroit-area financial firms where managers are accused of orchestrating a $53 million Ponzi scheme.
Judge: Receiver in Allen Stanford $7B Ponzi scheme case can only go after investment interestAugust 1st, 2009 SEC reining in receiver in Stanford $7B Ponzi caseDALLAS — A federal judge ruled Friday that a court-appointed receiver who took over companies run by Texas billionaire R. Allen Stanford can recover only the interest — not the principal — on investments that federal prosecutors say fed a multibillion-dollar Ponzi scheme.
SEC accuses Lancelot Investment of investing more than $2 billion in alleged Ponzi schemeJuly 11th, 2009 Lancelot Investment accused of aiding Ponzi schemeCHICAGO — Lancelot Investment Management and its owner have been accused by the U.S. Securities and Exchange Commission of aiding a multibillion dollar Ponzi scheme.
SEC freezes assets of Dallas company accused of oil and gas-themed Ponzi schemeJuly 7th, 2009 SEC freezes assets of Dallas companyDALLAS — Federal regulators have frozen the assets of a company accused of running a $485 million Ponzi scheme centered on the oil and gas industry. In a statement issued Tuesday, the Securities and Exchange Commission says the scheme was orchestrated by three Dallas businessmen through a company called Provident Royalties LLC.
Feds charge 2 Calif. men of running $85 million Ponzi scheme targeting Korean-AmericansJune 10th, 2009 Feds accuse 2 Calif. men of conducting $85M schemeSAN FRANCISCO — Federal regulators have accused two Northern California men of conducting an $85 million Ponzi scheme that targeted Korean-Americans, pledging to deliver spectacular returns from foreign currency trading.
Western NY businessman pleads guilty in Ponzi scheme that bilked millions from CatholicsJune 8th, 2009 NY businessman pleads guilty in Ponzi schemeBUFFALO, N.Y. — A western NY businessman is facing up to a 25-year prison sentence and a $50 million fine after admitting he orchestrated a multimillion dollar Ponzi scheme that targeted Catholics.
Wine collection, private jet up for liquidation in alleged Caribbean Ponzi schemeJune 4th, 2009 Receiver in Caribbean scheme targets jet, wineSAN JUAN, Puerto Rico — A court-appointed receiver wants to sell off a wine collection, a private jet and two Cadillacs, among other property, to pay off victims of an alleged Ponzi scheme involving a Caribbean offshore bank, according to court documents. Receiver Richard Roper III asked a federal judge in Texas to authorize the sale to help compensate hundreds of Americans who had invested at least $68 million since 2004 in the alleged scheme.
NY investment adviser indicted on charges of masterminding $413 million Ponzi schemeApril 24th, 2009 NY adviser indicted in $413 million Ponzi schemeCENTRAL ISLIP, N.Y. — An investment firm owner masterminded a $413 million Ponzi scheme that fleeced more than 6,000 people, a federal indictment charged.
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