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.
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.
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.
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.
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.
NYC man charged in Ponzi scheme that diverted millions to bad real estate deals, porn companySeptember 8th, 2009 NYC man charged in Ponzi scheme with porn linkNEW YORK — A small-time money manager who did business out of a shabby storefront in Brooklyn was charged Tuesday with running a $40 million Ponzi scheme that secretly diverted client money to unauthorized ventures, including a mail-order pornography business. Federal prosecutors and the Securities Exchange Commission said Philip Barry, 52, ran the scam without detection for 31 years until the economic downturn bankrupted him last summer.
Apologetic ex-Madoff CFO DiPascali reveals details of Ponzi scheme as he pleads guilty in NYCAugust 11th, 2009 Ex-Madoff CFO pleads guilty in court in NYCNEW YORK — The former chief financial officer for Bernard Madoff has pleaded guilty in a cooperation deal to 10 charges, including conspiracy. Frank DiPascali entered the pleas Tuesday in federal court in Manhattan.
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.
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.
Madoff case trustee says claims in massive Ponzi scheme rise to almost 9,000May 14th, 2009 Trustee: Nearly 9,000 claims in Madoff scamNEW YORK — The trustee overseeing the liquidation of Bernard Madoff's assets says he's received almost 9,000 claims from the disgraced financier's victims. Court-appointed trustee Irving Picard told reporters Thursday on a conference call that he's identified about $1 billion in assets that will be used to pay the claims.
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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