PatrickPretty.com

Day: January 21, 2009

  • Donald Manning, President Of Purported Offshore Investment Firm, Faces 10 Years In Prison, $500,000 Fine

    BLOG UPDATE 8:51 P.M. EST (U.S.A.): We’ve updated this post to note that Donald Manning, who pleaded guilty yesterday to running a Ponzi scheme, was captured in February 2008 — in Nicaragua. Cameron Campbell, a Manning Ponzi co-defendant, is a former attorney from La Jolla, Calif. See an FBI news release at the bottom of…

  • Former Texas Bail-Bondsman Charged In $45 Million Ponzi Swindle

    In the aftermath of a probe by the Securities & Exchange Commission and the FBI, a former Texas bail-bondsman has been accused of swindling investors — many of them senior citizens — out of millions of dollars. Rod Cameron Stringer was named a defendant in an SEC complaint filed yesterday in Texas. Stringer claimed his…

  • BREAKING NEWS: SEC Charges Nadel With Fraud

    Breaking News 2:24 p.m. EST (U.S.A.). The Securities & Exchange Commission has just accused missing fund manager Arthur Nadel of fraud. “Nadel provided false and misleading information for dissemination to investors about the Funds’ historical returns and falsely overstated the value of investments in the Funds by approximately $300 million,” the SEC said. “In contrast,…

  • Introducing Ponzi News (Beta)

    Over the next few days we’ll be rolling out a beta version of a new web publication known as Ponzi News. It’s at PonziNews.com. The content will be targeted at consumers, many of whom were only vaguely familiar with the term “Ponzi scheme” prior to the Bernard Madoff affair. We chose “Ponzi News” as the…

  • Joseph Forte Charged With $50 Million Ponzi Fraud

    First the SEC sued fund manager Joseph Forte, accusing him of running a Ponzi scheme that fleeced investors out of tens of millions of dollars. Now Forte has been charged criminally with mail fraud. Authorities said his victims included a church, a charity and a private school. The SEC sued Forte, 53, of Broomall, Pa.,…