Archive for January 5th, 2010

Massachusetts Man, 76, Becomes Latest Senior Citizen Implicated In Ponzi Scheme; Richard Elkinson Accused Of $29 Million Fraud; Investigators Find Millions Of Dollars In Las Vegas Casino Transactions

Massachusetts Man, 76, Becomes Latest Senior Citizen Implicated In Ponzi Scheme; Richard Elkinson Accused Of $29 Million Fraud; Investigators Find Millions Of Dollars In Las Vegas Casino Transactions

A Massachusetts man has been arrested in Mississippi and charged with orchestrating a $29 million Ponzi scheme by tricking people into believing they were investing in a company that provided uniforms for the Winter Olympics, the Pan American games and the government. Ironically, Richard Elkinson told investors he provided prison uniforms — and also uniforms […]

DEVELOPING STORY: Scott Rothstein To Plead Guilty In $1.2 Billion Ponzi Scheme

BULLETIN: Scott Rothstein, the Fort Lauderdale attorney charged with racketeering last month and disbarred amid allegations he orchestrated a $1.2 billion Ponzi scheme involving bogus legal settlements, is expected to change his plea to guilty.

Local Police In California Uncover Ponzi Scheme While Investigating Woman For Unrelated Crime; Ponzi Targeted At Latin Immigrants

Local Police In California Uncover Ponzi Scheme While Investigating Woman For Unrelated Crime; Ponzi Targeted At Latin Immigrants

Police in Redondo Beach, Calif., say they were investigating Mariana Montes for a separate crime and seeking her arrest on a warrant, but discovered during their probe that she had wiped out investors by running a Ponzi scheme targeting Latin immigrants. Montes, 41, now is jailed on the original warrant, and the Ponzi investigation is […]

DEVELOPING STORY: Family Of Alleged Ponzi Schemer In Canada Targeted With Death Threats; Bullets Fired At Home

DEVELOPING STORY: Family Of Alleged Ponzi Schemer In Canada Targeted With Death Threats; Bullets Fired At Home

Just how far will people go to avoid getting caught or convicted of operating a Ponzi scheme or to reclaim funds lost in a Ponzi scheme — or to send a message that designed to rattle nerves? There have been several recent Ponzi or financial-fraud cases with more than just a hint of violent intent. […]

North Carolina Man Adds To List Of Alleged Schemers Who Bought Jet Skis With Fraud Proceeds; J.V. Huffman Jr. Also Faces Trial On Weapons Charge

North Carolina Man Adds To List Of Alleged Schemers Who Bought Jet Skis With Fraud Proceeds; J.V. Huffman Jr. Also Faces Trial On Weapons Charge

It’s not as though alleged fraudster J.V. Huffman Jr. did not have the expensive cars and real estate often associated with Ponzi schemes or financial frauds. Huffman, jailed awaiting trial in North Carolina on Ponzi and weapons charges, had plenty of those, according to William Walt Pettit, the court-appointed receiver. He had an Aston Martin […]