Archive for January 15th, 2010

REPORTS: Gold Nugget Invest (GNI) Has Collapsed; Belize Issued Warning In November, But Program Pitched On Surf’s Up In December

REPORTS: Gold Nugget Invest (GNI) Has Collapsed; Belize Issued Warning In November, But Program Pitched On Surf's Up In December

There are multiple reports that the Gold Nugget Invest (GNI) HYIP has collapsed — although the early spin is that the program is embarking on a “Re-organization.” The government of Belize put out a warning on GNI in November.  Some members said the warning was meaningless, and continued to tout the program. GNI’s website now […]

Court Gives Receiver Go-Ahead To Start Selling Property Tied To Alleged Trevor Cook/Pat Kiley Ponzi; Large-Screen TVs, Slot Machines To Be Auctioned

Court Gives Receiver Go-Ahead To Start Selling Property Tied To Alleged Trevor Cook/Pat Kiley Ponzi; Large-Screen TVs, Slot Machines To Be Auctioned

UPDATED 4:06 P.M. ET (U.S.A.) A federal judge in the SEC and CFTC Ponzi scheme cases against Trevor Cook and Pat Kiley has paved the way for the receiver to begin selling property linked to the alleged $190 million scheme. Among the first items up for bid will be 12 large-screen televisions, two slot machines […]

Ballroom Dancer Gets 18 Years In Financial Scheme; Wayne ‘Twinkle Toes’ Puff Case In New Jersey Combined Mortgage And Ponzi Fraud

Ballroom Dancer Gets 18 Years In Financial Scheme; Wayne 'Twinkle Toes' Puff Case In New Jersey Combined Mortgage And Ponzi Fraud

His case signaled that things were desperately out of control in the U.S. mortgage industry, and Wayne Puff was sentenced yesterday to 18 years in federal prison for swindling investors and banks in a massive mortgage and Ponzi scheme that operated between 1998 and 2005. Although Puff had been disciplined by regulators in New Jersey […]