Archive for May 2010

KABOOM! Alleged Commodities Ponzi Scheme Run By Mexican Nationals On U.S. Soil Dumped Money Into TWO Other Failed HYIP Fraud Schemes, Investigators Say; Ruben Gonzalez, Jose C. Naranjo Charged By CFTC

KABOOM! Alleged Commodities Ponzi Scheme Run By Mexican Nationals On U.S. Soil Dumped Money Into TWO Other Failed HYIP Fraud Schemes, Investigators Say; Ruben Gonzalez, Jose C. Naranjo Charged By CFTC

UPDATED 10:17 A.M. EDT (May 25, U.S.A.) It has been another nasty day for the HYIP and autosurf “industries” and their apologists. Investigators have charged two Mexican nationals with operating a Ponzi scheme on U.S. soil. The alleged scheme, which used names such as New Golden Investment Group LLC (NGI), NGI Group LLC, New Golden […]

SEC: Another Florida Ponzi Scheme; Financial Fraud Task Force: Guilty Plea By Attorney In California Mortgage-Fraud Case, Plus New Indictments

SEC: Another Florida Ponzi Scheme; Financial Fraud Task Force: Guilty Plea By Attorney In California Mortgage-Fraud Case, Plus New Indictments

In a fast-moving news day on the fraud front, the SEC has accused two men and their Florida company of orchestrating a real-estate “promissory note” Ponzi scheme. Separately, the Financial Fraud Enforcement Task Force announced the guilty plea of a California attorney in a real-estate swindle, plus the indictments of seven other people in separate […]

Feds, State Team Up In Virginia To Short-Circuit White-Collar Crime Wave; ‘All Too Clear’ Problem National In Scope, Top Federal Prosecutor Says

Feds, State Team Up In Virginia To Short-Circuit White-Collar Crime Wave; 'All Too Clear' Problem National In Scope, Top Federal Prosecutor Says

Calling it an “unprecedented partnership” brought about by a financial-fraud problem that is national in scope, federal and state officials today announced the creation of the Virginia Financial and Securities Fraud Task Force. The Virginia Task Force, which is part of President Obama’s interagency Financial Fraud Enforcement Task Force, brings together criminal investigators and civil […]

GONE TOO FAR? Video Implies Data Network Affiliates Has Branding Deal With Apple’s ‘iPhone’; Separate Video Implies Phone Available For $10 A Month With No Contract; No Immediate Comment From Apple

GONE TOO FAR? Video Implies Data Network Affiliates Has Branding Deal With Apple's 'iPhone'; Separate Video Implies Phone Available For $10 A Month With No Contract; No Immediate Comment From Apple

Have DataNetworkAffiliates and its multilevel-marketing sales force finally gone too far? Oprah Winfrey and Donald Trump now have company on the list of famous names DNA promoters claim have ties to the firm — and this time the name is bigger and has even deeper pockets than Oprah or The Donald: Apple Inc., the inventive, […]

Now, A Fast-Food Ponzi Scheme: Feds Say Ohio Man Swindled Millions By Telling Investors He Built Chicken And Burger Restaurants

Now, A Fast-Food Ponzi Scheme: Feds Say Ohio Man Swindled Millions By Telling Investors He Built Chicken And Burger Restaurants

EDITOR’S NOTE: Here’s one for your Bubba Blue notebook on the various ways to have a Ponzi scheme, as opposed to shrimp — and this one actually wafts with the myth of food — in this case, chicken and burgers. More than 200 investors have been fleeced in a bizarre scheme in which an Ohio […]

KABOOM! Agents Tie Alleged ‘Evolution Market Group’ Ponzi And HYIP Fraud Scheme To Narcotics Case In Arizona; Tens Of Millions Of Dollars Seized; Firms Promoted On ASA Monitor, TalkGold Forums

KABOOM! Agents Tie Alleged 'Evolution Market Group' Ponzi And HYIP Fraud Scheme To Narcotics Case In Arizona; Tens Of Millions Of Dollars Seized; Firms Promoted On ASA Monitor, TalkGold Forums

Kaboom! It has happened again. Explosive court filings by the government show that kneejerk apologists and defenders of High Yield Investment Programs (HYIPs) and autosurfs are quickly running out of cover when they assert that anything is noble or even real about the programs they relentlessly push for their share of purported profits from introducing […]

ESSAY: Why Narc That Car Has A Duty To Reveal The Names Of Its Database Clients And Police Departments Whose Members May Be Narc Consultants

ESSAY: Why Narc That Car Has A Duty To Reveal The Names Of Its Database Clients And Police Departments Whose Members May Be Narc Consultants

EDITOR’S NOTE: Narc That Car says it is a private company and has no duty to reveal the names of its data clients. This essay challenges Narc’s arguments. UPDATED 4:33 P.M. EDT (U.S.A.) The public has a compelling interest not only in learning the identities of Narc That Car’s clients through appropriate channels, but also […]

Debit-Card Firm Spotlighted In Purported Training Material For Minnesota-Based INetGlobal Was Referenced In $22 Million Ponzi Case In Florida Last Year; Renner Company Now Has Link To Third Ponzi Court Scrape

Debit-Card Firm Spotlighted In Purported Training Material For Minnesota-Based INetGlobal Was Referenced In $22 Million Ponzi Case In Florida Last Year; Renner Company Now Has Link To Third Ponzi Court Scrape

Training material purportedly produced in November 2009 and published online shows prospects of INetGlobal how to transfer money from the company to a reloadable debit card. The presentation reveals that INetGlobal was using the same debit-card firm that provided services for a Florida man implicated in October 2009 — just a month before the INetGlobal […]

PROSECUTION: INetGlobal Trying To Derail Probe By Hiring Attorney To Block Agents’ Access To ‘Potentially Adverse Witnesses’ Among Employee Ranks; Assertion That One Attorney Can Represent All Workers ‘Outlandish’

PROSECUTION: INetGlobal Trying To Derail Probe By Hiring Attorney To Block Agents' Access To 'Potentially Adverse Witnesses' Among Employee Ranks; Assertion That One Attorney Can Represent All Workers 'Outlandish'

Federal prosecutors say they believe INetGlobal and its parent company — Inter-Mark Corp. — hired an attorney for employees to derail a criminal probe into the companies’ business practices by muting the voices of workers who could become witnesses in the case. Prosecutors made the dramatic claim in response to INetGlobal’s request last week for […]

BULLETIN: Renner Case Takes West Coast Turn; Prosecutors Seek Forfeiture Of San Diego Property Allegedly Bought With Funds From INetGlobal Advertisers

BULLETIN: Renner Case Takes West Coast Turn; Prosecutors Seek Forfeiture Of San Diego Property Allegedly Bought With Funds From INetGlobal Advertisers

BULLETIN: UPDATED 1:47 P.M. EDT (U.S.A.) Federal prosecutors and the U.S. Secret Service have filed paperwork that says INetGlobal’s parent company — Inter-Mark Corp. — acquired a property in San Diego last year and intended to remodel it with proceeds from a Ponzi scheme. Records suggest the purchase price of the property was $595,000 and […]

ESSAY: Why Narc That Car Has A Duty To Reveal The Names Of Its Database Clients And Police Departments Whose Members May Be Narc Consultants

ESSAY: Why Narc That Car Has A Duty To Reveal The Names Of Its Database Clients And Police Departments Whose Members May Be Narc Consultants

EDITOR’S NOTE: Narc That Car says it is a private company and has no duty to reveal the names of its data clients. This essay challenges Narc’s arguments. The public has a compelling interest not only in learning the identities of Narc That Car’s clients through appropriate channels, but also in learning the identities of […]