Archive for October 17th, 2009

NEWS AND NOTES: Arrests Made In Ponzi And Affinity Fraud Scheme That Targeted 21 Michigan Churches; Pennsylvania Man Accused Of Targeting Credit Unions In Ponzi Scheme

NEWS AND NOTES: Arrests Made In Ponzi And Affinity Fraud Scheme That Targeted 21 Michigan Churches; Pennsylvania Man Accused Of Targeting Credit Unions In Ponzi Scheme

Two Maryland men were charged and arrested, amid allegations they fleeced 21 Michigan churches out of $660,000 in a Ponzi and affinity fraud scheme in which pastors were duped into giving a leasing company access to church bank accounts. Authorities said the men perhaps targeted more than 160 churches in 13 states and the District […]

Bank Failure Brings 2009 Total To 99; Foreclosures Pile Up In California, Florida; Prosecutors Battle Mortgage Fraudsters And Ponzi Schemers

Bank Failure Brings 2009 Total To 99; Foreclosures Pile Up In California, Florida; Prosecutors Battle Mortgage Fraudsters And Ponzi Schemers

UPDATED 1:33 P.M. EDT (U.S.A.) The failure yesterday of San Joaquin Bank in Bakersfield, Calif., brought the total of bank failures in the United States this year to 99. With weeks remaining in the year, it is a virtual certainty that failures will top the 100 mark. Banks have been failing at an average rate […]