Archive for January 6th, 2010

Massachusetts Secretary Of State Seeks C&D Order, Disgorgement Against Individuals, Company That Helped Richard Elkinson Sell Alleged Ponzi Scheme

Massachusetts Secretary Of State Seeks C&D Order, Disgorgement Against Individuals, Company That Helped Richard Elkinson Sell Alleged Ponzi Scheme

In a case that may cause worry among autosurf and HYIP enthusiasts who earn sales commissions, Massachusetts Secretary of State William Galvin has sent the state Securities Division after the profits earned by two individuals and a company that recruited investors into the alleged Richard Elkinson Ponzi scheme. Galvin’s office filed civil papers today that […]

Toronto Police Department Seeks Assistance In Locating Alleged Ponzi Suspect Weizhen Tang; Says He Purported To Be The ‘Chinese Warren Buffet’

Toronto Police Department Seeks Assistance In Locating Alleged Ponzi Suspect Weizhen Tang; Says He Purported To Be The 'Chinese Warren Buffet'

Police in Canada are looking for Weizhen Tang, 51, to arrest him in an international investment-fraud case. The Toronto Police Department says investigators believe Tang duped more than 100 investors in a $30 million Ponzi scheme. A warrant has been issued for Tang’s arrest. Investigators say fraud victims exist “across Canada,” and in the United […]

BLOCKBUSTER ARREST: MLM Pyramid Scheme Operator Charged With Laundering Drug Money; David Murcia Extradited From Colombia To Stand Trial In New York

BLOCKBUSTER ARREST: MLM Pyramid Scheme Operator Charged With Laundering Drug Money; David Murcia Extradited From Colombia To Stand Trial In New York

EDITOR’S NOTE: Finding the United States an unfriendly environment, the so called autosurf and HYIP “industries” increasingly are relying on offshore money-exchange businesses and debit cards to entice participants, advising them that the offshore locations are “safe” havens that “shelter” U.S. residents from regulators and law-enforcement agencies. In August 2009, we reported that a Dallas-based […]