What's scarier than ghosts and goblins? Madoff at HalloweenOctober 11th, 2009 Madoff mask a natural for HalloweenNEW YORK — Don't be alarmed if Bernard Madoff comes knocking this Halloween. The real Madoff pleaded guilty to a decades-long Ponzi scheme that cost investors millions of dollars.
This isn't the food pyramid: Feds say food stamps were exchanged for Viagra, pornOctober 8th, 2009 Feds: Food stamps swapped for Viagra, booze, pornDETROIT — Viagra and pornography are not staples on the government's food stamp list. But authorities said a Detroit store supplied them during a series of illegal deals.
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.
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: $80M ATM Ponzi scheme was 'giant cash machine' for 2 men charged in NYSeptember 21st, 2009 2 men charged in NY with $80M Ponzi ATM schemeNEW YORK — Two men lured victims into an $80 million Ponzi scheme by convincing them they were investing in thousands of automated teller machines that in fact were never purchased, federal authorities said Monday. Vance Moore II, 55, of Raleigh, N.C., and Walter Netschi, 62, of McKinney, Texas, each face a charge of conspiracy to commit wire fraud and nine counts of wire fraud.
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.
High-profile Beverly Hills real estate agent acquitted of mortgage fraud scheme; 2 convictedAugust 11th, 2009 High-profile Calif. real estate agent acquittedLOS ANGELES — A high-profile Beverly Hills real estate agent has been acquitted of participating in a massive mortgage fraud scheme that caused federally insured banks to lose more than $40 million.
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.
SEC freezes assets of company accused of Texas oil and gas-themed Ponzi schemeJuly 7th, 2009 SEC alleges oil-and-gas Ponzi schemeDALLAS — Federal regulators have frozen the assets of a Delaware company accused of swindling nearly 8,000 investors in a $485 million Ponzi scheme that falsely promised hefty returns on investments in the oil and gas business, officials said Tuesday. Three businessmen in Dallas, where Provident Royalties LLC has its main office, ran the nationwide operation involving fraudulent securities offerings between June 2006 and January 2009, the Securities and Exchange Commission alleged in civil complaint filed in a North Texas federal court.
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.
Maryland prosecutors charge 5 with $70M mortgage Ponzi scheme, feds signal aggressivenessApril 27th, 2009 5 charged in $70M mortgage Ponzi schemeWASHINGTON — Five people were charged with fraud Monday in what prosecutors say was a mortgage scheme that defrauded over 1,000 people of more than $70 million. Maryland prosecutors say it was all a complicated Ponzi scheme run by a company called Metro Dream Homes.
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.
Madoff middleman charged with fraudApril 7th, 2009 NEW YORK - An investment advisor who allegedly steered his clients' money to Bernard Madoff's massive Ponzi scheme was charged with fraud Monday. J. Ezra Merkin invested more than $2.4 billion of his clients' money with Madoff, who pleaded guilty last month to the $50-billion scheme in which funds from new investors were used to pay off earlier ones.
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