Archive for November 2009

Surf’s Up Celebrates One Year As Bowdoin-Endorsed Blather Box; Forum Deletes Another Discussion About AdViewGlobal Autosurf Amid Member Complaints

Surf's Up Celebrates One Year As Bowdoin-Endorsed Blather Box; Forum Deletes Another Discussion About AdViewGlobal Autosurf Amid Member Complaints

A year ago yesterday these words appeared on AdSurfDaily’s Breaking News site: “All ASD Members are encouraged to join the ASD Members Advocate forum. The ASD Members Advocate forum should be your source for up-to-the-minute opinions and commentaries about ASD. We encourage you to join and get involved. Log on to http://asdmembers.ning.com/ “Surf’s Up, Baby!” […]

Michigan Man Who Claimed Investment Returns Of 131 Percent Guilty In Ponzi Scheme Case; Mark Richard Hamlin’s Day-Trading Scheme Comparable To ASD’s Dangerous ’80/20′ Reinvestment Program

Michigan Man Who Claimed Investment Returns Of 131 Percent Guilty In Ponzi Scheme Case; Mark Richard Hamlin's Day-Trading Scheme Comparable To ASD's Dangerous '80/20' Reinvestment Program

As Ponzi schemes go, it was far from the largest. But the case of Mark Richard Hamlin demonstrated that even smaller operators use Ponzi schemes to fuel personal spending that consumes an extraordinary percentage of investors’ funds. Hamlin’s day-trading scheme in Michigan gathered about $2 million from at least 90 investors between 2005 and 2008, […]

A PONZI WORLD FIRST? Regulators Have Evidence Accused Minnesota Schemer Trevor Cook Bought A ‘Submarine’ To Shuttle To Private Island

A PONZI WORLD FIRST? Regulators Have Evidence Accused Minnesota Schemer Trevor Cook Bought A 'Submarine' To Shuttle To Private Island

You’ve heard about the Ponzi mansions. You’ve heard about the luxury automobiles — Scott Rothstein’s $1.6 million Bugatti and the $350,000 Rolls-Royces he and suspects in other Ponzi schemes enjoyed. Now comes word that Trevor Cook, implicated in Minnesota with radio talk-show host Pat Kiley in an alleged Ponzi scheme involving at least $194 million, […]

Thanksgiving Thanks For The Word ‘Punters’ . . .

Thanksgiving Thanks For The Word 'Punters' . . .

Dear Readers, It is Thanksgiving Day in the United States. We extend to you our warm wishes. Many of you are smarting or downright hurting because of the Ponzi scheme in your life — or, in some cases, schemes. Perhaps this is especially true of our readers who belonged to AdSurfDaily and its so-called clones. […]

BREAKING NEWS: Two-Time Convicted Felon With $3 Million Judgment Against Him Emerged From Prison And Targeted Ponzi Scheme At Chinese-Americans In Oklahoma City, CFTC Says

A man imprisoned between 1996 and 2001 after being convicted in Texas of two financial felonies emerged from the penitentiary and targeted Greater Oklahoma City’s ethnic Chinese in a Ponzi scheme, the U.S. Commodity Futures Trading Commission (CFTC) said. Kenneth W. Lee also had a $3 million civil judgment placed against him in the 1990s […]

BULLETIN: Florida Supreme Court Disbars Scott Rothstein

UPDATED 3:52 P.M. ET (U.S.A.) The Florida Supreme Court has disbarred Fort Lauderdale attorney Scott Rothstein, who was implicated in a Ponzi scheme that could involve more than $1 billion. Here is the Rothstein disbarment order. Rothstein had been under investigation by the Florida Bar for stealing clients’ funds. He agreed to the disbarment, which […]

Conservative Radio Host Allegedly Cited Islamic Law To Dupe Christian Investors; Pat Kiley Issued Dire Warnings About ‘Greed’ Of Former President Clinton And ‘Massive Chaos’ To Come Under Obama

Conservative Radio Host Allegedly Cited Islamic Law To Dupe Christian Investors; Pat Kiley Issued Dire Warnings About 'Greed' Of Former President Clinton And 'Massive Chaos' To Come Under Obama

A radio host pitched his Ponzi scheme to listeners and told some clients that his strategy employed an unnamed Islamic bank that complied with Shariah law in an apparent bid to make investors believe the firm borrowed money to trade currency on international exchanges without having to pay interest, according to the SEC. Shariah law […]

WRAP-UP: Marine Corps Officer Tells Judge Ponzi Schemer Who Fleeced Seniors, Charities ‘Violated Every Character Trait I Hold Dear’

EDITOR’S NOTE: This column summarizes three Ponzi cases: Joseph Forte, Sean Healy and Tom Petters. Forte has been sentenced; Healy has been convicted, and Petters is waiting to hear his fate from a Minnesota jury. The cases vary widely in size and scope, but demonstrate the terrible consequences of Ponzi schemes on individual investors and […]

BREAKING NEWS: Host Of ‘Follow The Money’ Christian Radio Show Patrick Kiley Accused In Minnesota Of Operating Ponzi Scheme That Gathered $190 Million

Radio talk-show host Patrick “Pat” Kiley is among the defendants accused in an emergency action by the SEC of operating a $190 million Ponzi scheme in Minnesota. A federal judge has granted an asset freeze and appointed a receiver. At least $51 million in Ponzi payments were made, the SEC said. Also charged were Trevor […]

BREAKING NEWS: ‘Billionaire Boys Club’ Attorney In Michigan Ponzi Scheme Case Indicted In North Carolina For Running His Own Securities Scheme

UPDATED 7:02 P.M. ET (U.S.A.) A Georgia attorney representing defendants in the alleged “Billionaire Boys Club” Ponzi scheme in Michigan has been indicted in North Carolina on charges he ran his own securities-fraud scheme. Gregory Bartko, 56, of Berkeley Lake, Ga., was indicted in North Carolina under seal Nov 4, according to U.S. Attorney George […]

SPECIAL REPORT: Convicted ‘3 Hebrew Boys’ Ponzi Figure Declares He Is ‘Sovereign’; Joseph Brunson Says Prosecutors Have No Authority Over Him

SPECIAL REPORT: Convicted '3 Hebrew Boys' Ponzi Figure Declares He Is 'Sovereign'; Joseph Brunson Says Prosecutors Have No Authority Over Him

Defining himself as “One,” a South Carolina man convicted Friday of operating an $82 million Ponzi scheme with two colleagues has filed a series of pleadings declaring himself “sovereign” and accusing a federal prosecutor of committing treason against the United States. The convicted schemer, Joseph B. Brunson of Hopkins, appears to trying to bolster his […]