Archive for February 20th, 2010

Canadian Regulators Attack ‘Pay It Forward’ Scheme; Many Autosurfs, Cash-Gifting And MLM Schemes Use Similar Marketing Approach

Canadian Regulators Attack 'Pay It Forward' Scheme; Many Autosurfs, Cash-Gifting And MLM Schemes Use Similar Marketing Approach

Trading off a popular phrase, Kerry John O’Neill’s “pay-it-forward” scheme has landed him in trouble with Canadian securities regulators, wiped him out financially and implicated an associate who helped him sell the scheme. O’Neill even named his scheme the “Pay It Forward Program” (PIF), according to the British Columbia Securities Commission (BCSC), which accused him […]

ANOTHER FLORIDA FRAUD CONVICTION: Michael J. Muzio Ran ‘Pump-And-Dump’ Scheme In Case Tied To Ponzi And Affinity-Fraud Scheme Targeting Haitian-Americans

ANOTHER FLORIDA FRAUD CONVICTION: Michael J. Muzio Ran 'Pump-And-Dump' Scheme In Case Tied To Ponzi And Affinity-Fraud Scheme Targeting Haitian-Americans

A Florida man implicated in a pump-and-dump scheme tied to a Ponzi- and affinity-fraud scheme has been convicted and faces decades in federal prison. Michael J. Muzio, 46, of Tampa, was convicted on six counts of securities fraud, two counts of substantive wire fraud, two counts of lying to the SEC and the FBI and […]

Former Attorney Sentenced To 99 Years In Prison For Ponzi Scheme; Edward S. Digges Jr. Was Recidivist Offender

Former Attorney Sentenced To 99 Years In Prison For Ponzi Scheme; Edward S. Digges Jr. Was Recidivist Offender

A Texas jury has thrown the book at Edward S. Digges Jr., sentencing the Collin County man to 99 years in prison for fleecing 130 investors in a securities-fraud and Ponzi scheme. Digges, 63, formerly was an attorney in Annapolis, Md. He was disbarred in an overbilling scheme, convicted of mail fraud in 1990 and […]