Archive for December 17th, 2009

NY ATTORNEY GENERAL: Unlimited Wealth Associates Pulled Off ‘Seemingly Limitless Fraud And Deceit’ In Ponzi And Pyramid Scheme That Operated Nationwide

NY ATTORNEY GENERAL: Unlimited Wealth Associates Pulled Off 'Seemingly Limitless Fraud And Deceit' In Ponzi And Pyramid Scheme That Operated Nationwide

A company known as Unlimited Wealth Associates operated Ponzi and pyramid schemes that obtained at least $7 million, New York’s top prosecutor said today. “While this company promised unlimited wealth, our investigation found seemingly limitless fraud and deceit as they went after investors’ savings,” said Attorney General Andrew M. Cuomo. Prosecutors “will continue to have […]

Judge Enters Injunction Against Mantria/Speed Of Wealth Figure Donna McKelvy In ‘Green’ Ponzi Scheme Case; Speed Of Wealth Website Goes Missing

Judge Enters Injunction Against Mantria/Speed Of Wealth Figure Donna McKelvy In 'Green' Ponzi Scheme Case; Speed Of Wealth Website Goes Missing

A federal judge has issued an order that enjoins Speed of Wealth principal Donna McKelvy from breaking securities laws and disgorges her ill-gotten gains from the alleged Mantria Corp./Speed of Wealth Ponzi scheme. McKelvy, 43, of Parker, Colo., consented to the order without admitting or denying the allegations in a complaint filed by the SEC […]

Raymond Frank Joseph Convicted On All 36 Counts In Michigan Ponzi Scheme; Federal Judge Revokes Bond

Raymond Frank Joseph Convicted On All 36 Counts In Michigan Ponzi Scheme; Federal Judge Revokes Bond

Federal prosecutors have scored another dramatic win in a Ponzi scheme case. Raymond Frank Joseph, 55, of Bloomfield Hills, Mich., was convicted of three counts of wire fraud, nine counts of interstate transportation of stolen money or property and 24 counts of conducting monetary transactions in criminally derived property. Judge Gerald E. Rosen immediately revoked […]

PP Blog Marks Milestone In A Year Filled With Ponzi Schemes And Nonfiction That Reads Like Fiction

PP Blog Marks Milestone In A Year Filled With Ponzi Schemes And Nonfiction That Reads Like Fiction

EDITOR’S NOTE: We were going to publish this post to commemorate our 500th post since December 2008, but breaking news intervened. So, this is now Post No. 501. This is the PP Blog’s 500th post (actually it’s now No. 501) since December 2008, the month we switched to WordPress. It has been a year filled […]