Archive for July 2010

DNA Now Says It Is Selling ‘Protective Spray’ To Block ‘Wrongful Ticketing’ From Red-Light Cameras; Simultaneously Announces ‘Alert Button’ To Protect Abducted Children

DNA Now Says It Is Selling 'Protective Spray' To Block 'Wrongful Ticketing' From Red-Light Cameras; Simultaneously Announces 'Alert Button' To Protect Abducted Children

A Florida multilevel marketing (MLM) company that says its license-plate data system can help law enforcement and the AMBER Alert program locate abducted children now says it is working against cities “worldwide” in their efforts to enforce traffic laws. Data Network Affiliates (DNA) announced that it was offering “DNA Protective Spray” by the case to […]

Clawback Actions Begin In Trevor Cook Case; Receiver Says Millions Of Dollars Of ‘Preferential Transfers’ To Investors Occurred After SEC Paid ‘Surprise’ Visit

Clawback Actions Begin In Trevor Cook Case; Receiver Says Millions Of Dollars Of 'Preferential Transfers' To Investors Occurred After SEC Paid 'Surprise' Visit

EDITOR’S NOTE: R.J. Zayed, the court-appointed receiver in the Ponzi and Forex fraud case brought by the SEC and CFTC against Trevor Cook and Pat Kiley, has said many investors were made destitute by the scheme. Not all investors lost their money, however. Yesterday Zayed filed petitions to claw back millions of dollars in “preferential […]

PONZI NEWS/NOTES: Judge Says Matthew Pizzolato ‘Swindled The Salt Of The Earth’; Feds Allege New Scheme In New York; Henri Zogaib Arrested Again In Florida

PONZI NEWS/NOTES: Judge Says Matthew Pizzolato 'Swindled The Salt Of The Earth'; Feds Allege New Scheme In New York; Henri Zogaib Arrested Again In Florida

EDITOR’S NOTE: The briefs below summarize recent developments in Ponzi cases or actions in new Ponzi cases. Sentenced: Matthew B. Pizzolato, 26, Tickfaw, La. Ripped off senior citizens in Ponzi scheme. In sentencing Pizzolato to 30 years in federal prison, U. S. District Judge Lance M. Africk said Pizzolato “stole from hard working Americans” and […]

LockInYourFreeSpot.com A ‘New DNA URL,’ Company Says: Will Members Transfer Their Prospect Lists To MLM Firm?

LockInYourFreeSpot.com A 'New DNA URL,' Company Says: Will Members Transfer Their Prospect Lists To MLM Firm?

Data Network Affiliates (DNA) is asking members to drive traffic to yet-another URL: LockInYourFreeSpot.com. LockInYourFreeSpot.com is at least the third URL DNA has featured this year in bids to recruit members into a multilevel-marketing (MLM) program that purportedly offers everything from license-plate data to cell-phone service and juices. Why DNA, which says it is launching […]

‘Sports Arbitrage’ Betting Program Was Investment Scam, Feds Say; Yul Na Indicted For Wire Fraud, Money-Laundering; Faces Up To 890 Years In Prison

'Sports Arbitrage' Betting Program Was Investment Scam, Feds Say; Yul Na Indicted For Wire Fraud, Money-Laundering; Faces Up To 890 Years In Prison

A man has been indicted in Las Vegas for stealing nearly $1 million from investors by telling them they were participating in a “sports arbitrage” betting program and could not lose, federal prosecutors said. An arrest warrant has been issued for Yul Na. He was charged in a criminal indictment with 30 counts of wire […]

Idaho Sues 4 Men Amid Allegations Of ‘Upline’ And ‘Downline’ Fraud From Scheme Within A Scheme; State Seeks Return Of More Than $2.1 Million, Alleging Sale Of Unregistered Securities

Idaho Sues 4 Men Amid Allegations Of 'Upline' And 'Downline' Fraud From Scheme Within A Scheme; State Seeks Return Of More Than $2.1 Million, Alleging Sale Of Unregistered Securities

EDITOR’S NOTE: The story below outlines civil allegations filed in Idaho against Brock Bruegeman, Brian Birch, Brandon Johnson and Sonny Jensen in which the state alleges they operated a pyramid scheme tied to what federal prosecutors have alleged was an upstream, $100 million Ponzi scheme operated in Utah by Rick Koerber. Koerber, who has denied […]

BULLETIN: Beau Diamond Found Guilty On All 18 Counts In Florida-Based Forex Scheme; Office Of U.S. Attorney A. Brian Albritton Is Tackling A Number Of HYIP Schemes

BULLETIN: Beau Diamond Found Guilty On All 18 Counts In Florida-Based Forex Scheme; Office Of U.S. Attorney A. Brian Albritton Is Tackling A Number Of HYIP Schemes

BULLETIN: Beau Diamond, the Florida man accused of fleecing investors out of millions of dollars in a Forex Ponzi scheme, has been found guilty of all 18 counts against him. Diamond, 32, was the operator of Diamond Ventures LLC of Sarasota. He was arrested by the Pinellas County Sheriff’s Office in September 2009, after a […]

BULLETIN: Another ‘False Liens’ Case Alleged; Feds Charge Thanh Viet Jeremy Cao With Targeting Federal Judges, SEC, IRS, Secret Service And Prosecutors In Paperwork Scheme

BULLETIN: Another 'False Liens' Case Alleged; Feds Charge Thanh Viet Jeremy Cao With Targeting Federal Judges, SEC, IRS, Secret Service And Prosecutors In Paperwork Scheme

BULLETIN: Yet-another bizarre paperwork attack on U.S. law enforcement has occurred. A California man has been charged with filing “false liens” in Nevada against federal officials and employees of the SEC, the Secret Service, the IRS, four federal judges and staff members of the U.S. Attorney’s Office for the Southern District of California, federal prosecutors […]

MYTH-SHATTERING CASE: Local Prosecutors Extradite Ronald Paul Shade From Thailand To Face Real-Estate Ponzi Charges; Shade Also Accused Of ‘Financial Elder Abuse’

MYTH-SHATTERING CASE: Local Prosecutors Extradite Ronald Paul Shade From Thailand To Face Real-Estate Ponzi Charges; Shade Also Accused Of 'Financial Elder Abuse'

EDITOR’S NOTE: The PP Blog has covered a number of stories in which U.S. residents living overseas were extradited to the United States to face Ponzi charges. The case against Ronald Paul Shade is another one — and it’s one that demonstrates that an extradition can occur even if a defendant is not charged with […]

SCAMMER’S GAMBLE BACKFIRES: Fraudster Who Chilled Customer With Lawsuit Threat Pleads Guilty To Mail Fraud; Philip Pestrichello Faces Up To 20 Years In Prison After Plea In ‘Work-At-Home’ Caper

SCAMMER'S GAMBLE BACKFIRES: Fraudster Who Chilled Customer With Lawsuit Threat Pleads Guilty To Mail Fraud; Philip Pestrichello Faces Up To 20 Years In Prison After Plea In 'Work-At-Home' Caper

UPDATED 4:51 P.M. EDT (U.S.A.) A convicted felon who emerged from prison and almost immediately launched a $1 million fraud scheme known as PPSN threatened to prosecute and sue a consumer who had filed an online complaint, federal prosecutors said. Although the threat caused the consumer to withdraw the complaint against Philip Pestrichello, Pestrichello’s bid […]

CNN Covers Trevor Cook Ponzi: Strippers, Hookers, ‘Ladies Of The Evening’ And ‘Booze Runs’; ‘We Never Have Any Risk,’ Acknowledged Schemer Says

CNN Covers Trevor Cook Ponzi: Strippers, Hookers, 'Ladies Of The Evening' And 'Booze Runs'; 'We Never Have Any Risk,' Acknowledged Schemer Says

He wore a suit by day, persuading prospects he was buying commodities at a lower price and selling them at a higher price so quickly that there was no exposure to loss. Many of Trevor Cook’s investors identify themselves as Christians. His $190 million Ponzi scheme was centered in Minneapolis/St. Paul, a U.S. heartland region […]