PatrickPretty.com

Day: June 29, 2010

SEC Charges Man Described As ‘Recidivist’ And ‘Felon’ In Alleged Philadelphia Ponzi And Fraud Scheme; Separately, CBS-3 Reports Feds Raid Offices Of Robert Stinson Jr., Life’s Good Inc.

UPDATED 9:06 P.M. EDT (U.S.A.) A man who filed for bankruptcy twice, has an unpaid federal judgment for running a fraud scheme in the 1990s and managed to rack up convictions for crimes such as grand larceny, wire fraud, mail fraud and bank fraud during his purported business career has been charged by the SEC…

Jun 29, 2010
BULLETIN: Now, A Multimillion-Dollar ‘Penny-Stock’ Scheme Operating On Facebook, Twitter; SEC Charges Two Canadians In ‘Scalping Scam’

UPDATED 1:58 P.M. EDT (U.S.A.) The SEC has obtained an emergency order to freeze the assets of two Montreal residents, alleging they were pushing a penny-stock scheme through their website and on Facebook and Twitter. Named defendants in the alleged scheme were Carol McKeown and Daniel F. Ryan, whom the SEC described as a Canadian…

Jun 29, 2010
California Man, 72, Sentenced To 110 Months For HYIP Rip-Off; Richard M. Hersch Also Ordered To Pay ‘At Least’ $9.2 Million In Restitution

First, Richard M. Hersch, 72, told investors they’d earn up to 6 percent a week by plowing money into his company, All States ATM Inc. He then explained the company had “contracts” with major horse-racing tracks in California and elsewhere to operate Automated Teller Machines (ATMs) on the â€œback sideâ€ of the tracks. Ordinary horse-racing…

Jun 29, 2010
BULLETIN: High Court Orders 3 Accused HYIP Swindlers To Pay $173 Million To U.K.’s Financial Services Authority; Case May Be Largest Ponzi Scheme In British History

A court in the United Kingdom has ordered three individuals accused of operating a colossal Ponzi scheme to pay Â£115m — roughly the U.S. equivalent of $173 million. The alleged Business Consulting International fraud is believed to be the largest Ponzi swindle in British history. As a criminal investigation proceeds, John Anderson, Kenneth Peacock and…

Jun 29, 2010
Detectives Arrest Staten Island Man For Bilking Clients In Forex Scheme; Thomas Carson Ran .ORG Site; Allegedly Used Money For ‘Luxurious Lifestyle,’ Cigars, Treatment Of Varicose Veins

Detectives from the office of Richmond County District Attorney Daniel M. Donovan Jr. have arrested a Staten Island man on charges of stealing $2.5 million from investment clients. Separately, a New York newspaper is reporting that Thomas Carson used some of the money to pay for 30 separate treatments for varicose veins on his legs.…

Jun 29, 2010