INetGlobal Enters Objection To Magistrate Judge’s Ruling Permitting Government To Approach ‘Current And Former’ Employees In Ponzi Probe
The investigation into the business practices of INetGlobal is turning into a legal slog reminiscent of the AdSurfDaily autosurf Ponzi scheme case. In April, attorney Paul Engh filed a motion, saying he represented INetGlobal employees. Among other things, Engh sought an order that effectively would have blocked the U.S. Secret Service from interviewing the employees, […]
Richard Elkinson Ordered To Pay $29 Million In Ponzi Case; 77-Year-Schemer Still Jailed After Arrest At Mississippi Casino In January
A 77-year-old man who fleeced clients by telling them he brokered contracts for a Japanese company that provided uniforms for the Winter Olympics, the Pan American games and the government has been ordered to pay $29 million in a civil case brought by the SEC. Richard Elkinson is jailed in Massachusetts after being arrested at […]
Long Prison Terms Ordered In California Ponzi Scheme Cases In Which Operators Threatened Or Attempted Suicide; Roberto Heckscher Gets 20 Years; Patricia Morgen Gets Nearly 16 Years
EDITOR’S NOTE: This is a brief on two Ponzi cases in California that led to suicide attempts or threats. Among other things, the case of Roberto Heckscher demonstrates both the danger to life that collapsing Ponzi schemes pose and the fallacy that no Ponzi scheme exists as long as people are getting “paid.” The fallacy […]
Now, A ‘Belgian Royalty’ Ponzi Scheme; SEC Says Guy Albert de Chimay Used Investors’ Funds To Pay Divorce Lawyer, ‘Massive’ Credit-Card Bills, Rent, Payroll
UPDATED 9:31 A.M. EDT (U.S.A.) Saying Guy Albert de Chimay and his unregistered investment-advisory business “simply stole” clients’ funds while telling investors their money was safe with the “U.S. investment arm of the Chimay royal family of Belgium,” the SEC has gone to court in New York to halt what it described as a massive […]