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.
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.
Food fests in the Caribbean, from Puerto Rico to TrinidadJuly 20th, 2009 Food fests in the CaribbeanWINTER PARK, Fla. — Food, wine, sunny skies, golden sand and the turquoise sea: Now there's an inviting combination for a food festival.
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.
Man tapped to replace disgraced Antigua regulator steps aside to avoid conflict of interestJuly 3rd, 2009 Antigua's new top financial regulator steps asideST JOHN'S, Antigua — The man appointed to replace Antigua's disgraced financial regulator is stepping aside to avoid a possible conflict of interest. Everett Christian was tapped for the job last week, after officials fired his predecessor Leroy King for alleged ties to a $7 billion Ponzi scheme by Texas businessman R.
Former financial regulator accused in alleged Stanford fraud scheme posts bond in AntiguaJune 26th, 2009 Antigua ex-official posts bond in Stanford caseST. JOHN'S, Antigua — A lawyer for the former Antiguan financial regulator who is accused in the alleged $7 billion swindle by Texas billionaire R.
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.
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.
Trustee sues overseas money manager, saying should have known about Madoff schemeMay 12th, 2009 Trustee sues money manager in Madoff caseNEW YORK — The trustee overseeing the liquidation of disgraced financier Bernard Madoff's assets has sued another investment fund. The lawsuit filed Tuesday in bankruptcy court in Manhattan accused the Harley International Ltd.
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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