Archive for November 12th, 2009

‘MISPRISION OF FELONY’: Could It Be Used In Autosurf Ponzi Cases? Feds Trot Out Old-Fashioned Law To Combat Ponzi Epidemic; Georgia Woman Gets Jail Time

It’s called “misprision of felony” under Section 4 of the U.S. Code, and here’s how it reads: “Whoever, having knowledge of the actual commission of a felony cognizable by a court of the United States, conceals and does not as soon as possible make known the same to some judge or other person in civil […]

Defendant In $50 Million Texas Ponzi Taken Into Custody

A previous encounter with the Securities and Exchange Commission and a $50,000 fine did not stop Benny Lee Judah from selling unregistered securities, and now Judah has been taken into federal custody. Judah, 50, of Lubbock, Texas, pleaded guilty today to one count of money laundering and one count of sale and delivery after sale […]

Scott Rothstein Ponzi/Fraud Probe May Involve $1 Billion

The probe into the business affairs of Fort Lauderdale attorney Scott Rothstein may involve more than $1 billion directed to a Ponzi and fraud scheme, the FBI said today. Earlier estimates had placed the total at up to $500 million, and the FBI has made a public appeal for potential victims to provide information. Separately, […]