Archive for October 16th, 2009

INCREDIBLE: Yet Another Florida Man Indicted In Alleged Ponzi Scheme; Prosecutors Say Sean Healy Of Weston Bought A Bentley And ‘Several Ferraris’

There has been nonstop news about Florida Ponzi schemes in the past 48 hours. Several indictments have been announced, the latest involving Sean Healy of Weston. Healy, 38, was charged in a 55-count indictment unsealed in Pennsylvania with multiple counts of wire fraud, mail fraud, money laundering and obstruction of justice. Prosecutors said Healy “spent […]

BREAKING NEWS: Michael Riolo Sentenced To More Than 24 Years In Prison For Bilking Clients In Florida Ponzi Scheme That Collapsed After Nine Years

To many residents of Florida, Michael Riolo was their Bernard Madoff. Riolo, 38, of Boca Raton, was sentenced to more than 24 years in prison (293 months) today for bilking investors in a $44 million Ponzi scheme. The scheme began in 1999 and collapsed in 2008. “During these tough economic times, it is more important […]

BREAKING NEWS: Bowdoin’s Attorney Files Motion To Permit New Attorney To Appear In DC Federal Court

UPDATED 7:51 P.M. EDT (U.S.A.) An attorney for AdSurfDaily President Andy Bowdoin has filed a motion to permit another attorney to appear in U.S. District Court for the District of Columbia, the venue of the civil-forfeiture complaint against ASD’s assets. The attorney was identified as Michael R.N. McDonnell of Naples, Fla. Murray’s motion was dated […]

Florida Man Who Created 260 eBay Accounts Convicted In Elaborate Scam That Bilked $717,000 From Customers

The spread of online commerce has been accompanied by a spread of elaborate frauds — some of which have gathered tens of millions of dollars. Accompanying the fraud have been stares of disbelief. Not all of the stares have been directed at the fraudsters themselves. Indeed, thousands and thousands of people globally at any point […]

BREAKING NEWS: SEC Attacks ANOTHER Alleged Florida Ponzi And Affinity-Fraud Scheme; FBI Investigating Amid Report Indictments Alleging Securities Fraud, Wire Fraud, Money-Laundering And Conspiracy Have Been Unsealed

UPDATED 2:03 P.M. EDT (U.S.A.) The Securites and Exchange Commission — which announced yesterday that it had broken up a $22 million Ponzi scheme in Florida — announced today that it was working with the FBI to break up yet another Ponzi scheme in the Sunshine State. The newest scheme was targeted at Haitian-Americans who […]