Archive for November 23rd, 2009

ASD ALL OVER AGAIN? ‘3 Hebrew Boys’ Accuse U.S. Attorney Of ‘Treason’; Claim Draws Another Parallel To AdSurfDaily

ASD ALL OVER AGAIN? '3 Hebrew Boys' Accuse U.S. Attorney Of 'Treason'; Claim Draws Another Parallel To AdSurfDaily

Three men found guilty in South Carolina last week of operating an $82 million Ponzi scheme accused a federal prosecutor of treason on the same day the jury returned its verdict, the FBI said. A treason claim also was made in the federal forfeiture proceeding against assets tied to Florida-based AdSurfDaily, an alleged Ponzi scheme […]

FBI Asks For Help In Unraveling Connecticut Ponzi; Seeks Information On Michael Goldberg

The FBI has asked people who have information on Michael Goldberg, who ran a business in Wethersfield, Conn., known as Acquisitions Unlimited Group (AUG), “to immediately contact the FBI at (203) 777-6311.” Goldberg, 38, was arrested today on charges he had operated a $20 million Ponzi scheme over a period of 12 years from his […]

BULLETIN: Tom Petters’ Ponzi Case Goes To Jury

The fate of Minnesota businessman Tom Petters is in the hands of a jury. Petters was accused last year of operating a $3.65 billion Ponzi scheme.  Testimony in the case lasted a little more than three weeks. Federal prosecutors blamed the alleged Ponzi on Petters, saying he presided over a colossal fraud that featured phantom […]

BREAKING NEWS: Feds Say Rothstein Law Firm Had $8 Million In Revenue, But Paid $18 Million In Salaries

BREAKING NEWS: Feds Say Rothstein Law Firm Had $8 Million In Revenue, But Paid $18 Million In Salaries

UPDATED 1:52 P.M. ET (U.S.A.) The Rothstein Rosenfeldt Adler (RRA) law firm recorded $8 million in receivables during an unspecified year, but paid out $18 million in salaries to its employees, according to an amended forfeiture complaint filed today in the Scott Rothstein Ponzi scheme case. Ponzi proceeds of $10 million were used to close […]

Yet Another Senior Citizen Guilty In Ponzi Scheme That Targeted Fellow Seniors; Crime Was ‘Ruthlessly’ Executed, NJ Attorney General Anne Milgram Says

Yet Another Senior Citizen Guilty In Ponzi Scheme That Targeted Fellow Seniors; Crime Was 'Ruthlessly' Executed, NJ Attorney General Anne Milgram Says

A New Jersey financial adviser who created a sham company and operated it for 17 years has pleaded guilty to five felony counts of mail fraud, federal prosecutors said. Separately, state prosecutors announced a guilty plea to a felony charge of money-laundering. Maxwell B. Smith, 69, of Fairhaven, operated a Ponzi scheme that consumed more […]