Archive for December 2nd, 2009

REPORT: Former SEC Supervisor Aided Arizona ‘Numerologist’ Running A Ponzi Scheme; SEC Employee In Separate Case Probed For Threatening Boss, Bringing Weapons To Work

REPORT: Former SEC Supervisor Aided Arizona 'Numerologist' Running A Ponzi Scheme; SEC Employee In Separate Case Probed For Threatening Boss, Bringing Weapons To Work

A former supervisor with the Securities and Exchange Commission unwittingly aided a man accused of operating a Ponzi scheme in Arizona, according to a report by SEC Inspector General H. David Kotz. Meanwhile, Kotz reported that the Office of Inspector General (OIG) also investigated a case in which an SEC enforcement accountant allegedly threatened a […]

BULLETIN: Tom Petters Guilty On All 20 Counts In $3.65 Billion Ponzi Scheme Case In Minnesota

BULLETIN: Minnesota businessman Tom Petters has been found guilty by a Minnesota jury. UPDATED 6:03 P.M. ET (U.S.A.) Jury deliberations encompassed 32 hours over all or parts of five days. Petters blamed the fraud on subordinates, but the jury did not buy into his explanation that he had been inattentive to business since the stabbing […]

Shawn Merriman Pleads Guilty In Colorado Ponzi Case; Faces 20 Years In Prison For Swindling Investors And Using Money To Buy Rembrandt Paintings And Go On Safari

Shawn Merriman Pleads Guilty In Colorado Ponzi Case; Faces 20 Years In Prison For Swindling Investors And Using Money To Buy Rembrandt Paintings And Go On Safari

Shawn R. Merriman has pleaded guilty to mail fraud in a Ponzi scheme case that swindled dozens of investors in Colorado,  Minnesota and Utah. The scheme involved more than $20 million, prosecutors said. Merriman, 46, of Aurora, Colo., faces up to 20 years in prison and a fine of up to $250,000. The SEC said […]

THE PONZI CHILL: In Weeks Prior To Exposure Of $1.2 Billion Scheme, Scott Rothstein Threatened Journalist With Lawsuit, Newspaper Says

In what is becoming a familiar refrain in the Ponzi universe, former Fort Lauderdale attorney Scott Rothstein threatened a Florida newspaper and one of its reporters in the weeks prior to the exposure of his $1.2 billion fraud, the Sun Sentinel reported. The Sun Sentinel identified the reporter as Brittany Wallman. “Am I not making […]

MALWARE ALERT: Beware Of Email Purporting To Come From The U.S. Centers For Disease Control And Prevention (CDC)

The swine-flu (H1N1) outbreak has led to a “strikingly large malware campaign,” AppRiver reports. An email being sent out by spammers at a rate of 18,000 per minute purports to be from the U.S. Centers for Disease Control and Prevention (CDC), but is actually from a fake CDC site that installs malware. Recipients are asked […]

U.S. Attorney: Rothstein Ponzi Money Went To Politicians, Charities; ‘High-Ranking’ Police Officers Received ‘Gratuities’

In a criminal information and news release dripping with the word “co-conspirators,” federal prosecutors, the FBI and the IRS said Ponzi proceeds were used to grease wheels in law enforcement and pollute the worlds of business and politics in South Florida. Former attorney Scott Rothstein of Fort Lauderdale was arrested for racketeering yesterday. He was […]