Archive for December 2010

Georgia Fraud Case Had ASD-Like Elements; Woman Sentenced To 60 Years For Scheme; Cynthia O’Tyson Was Recidivist Offender; TV Camera Captures Sentencing

Georgia Fraud Case Had ASD-Like Elements; Woman Sentenced To 60 Years For Scheme; Cynthia O’Tyson Was Recidivist Offender; TV Camera Captures Sentencing

A Georgia woman with a history of stealing and being placed on probation after serving short stints in custody now has been sentenced to 60 years in prison. Cynthia O’Tyson’s sentencing was captured in Superior Court by WRDW-TV, the CBS affiliate in Augusta. The station led its 5 p.m. and 6 p.m. newscasts yesterday with […]

OH, FLORIDA! Spectacular New Allegations Raised In George Theodule Ponzi Scheme; Bank Sued For $68 Million Amid Accusation It Funneled Investors’ Cash To Fraudster Through ‘Drive-Thru’ Window

OH, FLORIDA! Spectacular New Allegations Raised In George Theodule Ponzi Scheme; Bank Sued For $68 Million Amid Accusation It Funneled Investors' Cash To Fraudster Through 'Drive-Thru' Window

The Miami Herald broke the story last night (see link at bottom of post) that Wells Fargo, which merged with Wachovia Bank in December 2008 and assumed its liabilities, has been sued for $68 million by the court-appointed receiver in the George Theodule Ponzi scheme in Florida. Theodule largely targeted the Haitian-American community in his […]

Missouri Man Banned From Investment Trade After Secretary Of State’s Office Discovers He Sold Unregistered Securities Of ‘Time-Share’ Resort To Senior Citizens In Their Eighties

Missouri Man Banned From Investment Trade After Secretary Of State's Office Discovers He Sold Unregistered Securities Of 'Time-Share' Resort To Senior Citizens In Their Eighties

A Missouri man who worked for a legitimate investment business near St. Louis sold unregistered securities in a Wisconsin-based, time-share “resort” business to elderly clients, Missouri officials said. The securities came in the form of “unregistered real estate investments,” the officials said. James McClellan Jr., of Chesterfield, never told 18 Missouri investors — at least […]

BULLETIN: National Institutes Of Health Says OWOW Multilevel-Marketing Firm Using Agency Press Release On Cancer Research Inappropriately; Separately, Piccolo Says ‘Magnetic’ Product Prevented Amputation — And Also Helps Tomatoes Grow

BULLETIN: National Institutes Of Health Says OWOW Multilevel-Marketing Firm Using Agency Press Release On Cancer Research Inappropriately; Separately, Piccolo Says 'Magnetic' Product Prevented Amputation -- And Also Helps Tomatoes Grow

BULLETIN: The National Institutes of Health (NIH), a division of the U.S. Department of Health and Human Services, said this morning that the OWOW multilevel-marketing program was using agency materials on cancer research inappropriately. OWOW is associated with Internet Marketer Phil Piccolo. The company has positioned at least two products sold MLM-style as cancer cures […]

BULLETIN: Salt Lake City Man Arraigned In Atlanta On Charges Of Running Ponzi And Fraud Scheme In Which Tens Of Millions Of Dollars Mysteriously Vanished Offshore; Canadian Also Charged In Alleged Caper

BULLETIN: Salt Lake City Man Arraigned In Atlanta On Charges Of Running Ponzi And Fraud Scheme In Which Tens Of Millions Of Dollars Mysteriously Vanished Offshore; Canadian Also Charged In Alleged Caper

BULLETIN: Two men — one from Salt Lake City, the other from Belleville, Ontario — have been charged by federal prosecutors in Atlanta with operating a Ponzi and fraud scheme in which tens of millions of dollars mysteriously disappeared overseas. Thomas Repke, 57, was arraigned today in Atlanta. Prosecutors said he worked with the Canadian […]

UPDATE: MPB Today Now Says Gary Calhoun Was Selected As 2003 ‘Businessman Of The Year’ By National Republican Congressional Committee

UPDATE: MPB Today Now Says Gary Calhoun Was Selected As 2003 'Businessman Of The Year' By National Republican Congressional Committee

Members of the purported MPB Today “grocery” program now are touting company President Gary Calhoun as 2003’s “Businessman of the Year” in promotional news releases and articles online. The company itself is doing the same thing on its website, explaining that Calhoun “was chosen as ‘Outstanding Young Men (sic) in America 1982’ . . . […]

A ‘MONEY MAGNET’ AT WORK: Andy Bowdoin Wows Crowd With Photo Of Building Later Seized; Indicted Autosurf Operator Gives Gordon Gekko-Like Speech In Which Greed Is Recast As A ‘Positive’

A 'MONEY MAGNET' AT WORK: Andy Bowdoin Wows Crowd With Photo Of Building Later Seized; Indicted Autosurf Operator Gives Gordon Gekko-Like Speech In Which Greed Is Recast As A 'Positive'

EDITOR’S NOTE: Two videos of sales pitches by AdSurfDaily President Andy Bowdoin are linked below. Both are available at publicly accessible websites. The first video shows Bowdoin, in the summer of 2008, wowing a crowd by showing ASD rally attendees a photo of ASD’s new headquarters building in Quincy, Fla. The building later was seized […]

UPDATE: E-Bullion, Firm Alleged To Have Provided Payment Services To ASD, Linked To Alleged Legisi Ponzi Scheme; Like ASD, FEDI Fraud Scheme Called Payments ‘Rebates’

UPDATE: E-Bullion, Firm Alleged To Have Provided Payment Services To ASD, Linked To Alleged Legisi Ponzi Scheme; Like ASD, FEDI Fraud Scheme Called Payments 'Rebates'

UPDATED 2:25 P.M. ET (U.S.A.) Still pushing autosurf and HYIP frauds? Last week, the PP Blog reported that the U.S. Secret Service and federal prosecutors had established a link between California-based E-Bullion and Florida-based AdSurfDaily. E-Bullion is a shuttered payment processor whose owner, James Fayed, is awaiting trial on charges of murdering his wife, Pamela […]

BULLETIN: Now, An Investment-Fraud Scheme Targeted At Indian-Americans And Members Of The Hindu Faith; SEC Says Amit V. Patel Of Minnesota Poses ‘Danger To The Investing Public’

BULLETIN: Now, An Investment-Fraud Scheme Targeted At Indian-Americans And Members Of The Hindu Faith; SEC Says Amit V. Patel Of Minnesota Poses 'Danger To The Investing Public'

BULLETIN: The SEC has obtained an asset freeze against a Minnesota man in an alleged investment- and affinity-fraud scheme targeted at Indian-Americans and followers of the Hindu faith. Amit V. Patel of Shoreview raised “at least $2.5 million from at least five individuals that he met in the Indian-American community and Hindu temples in Minnesota,” […]

SARASOTA HERALD-TRIBUNE: Convicted Ponzi Swindler Beau Diamond Sentenced To More Than 15 Years In Federal Prison

SARASOTA HERALD-TRIBUNE: Convicted Ponzi Swindler Beau Diamond Sentenced To More Than 15 Years In Federal Prison

The Sarasota Herald-Tribune is reporting that Ponzi swinder Beau Diamond has been sentenced to 186 months in federal prison. Sentencing court was conducted this morning. The Diamond case is among a number of complex Ponzi or fraud-scheme investigations undertaken by federal prosecutors and investigators in the Middle District of Florida. Others include  Traders International Returns […]

New Jersey AG Says Firm Was Running $40 Million Ponzi Scheme; Carr Miller Capital LLC’s Advisory Registration Revoked; Investigators Charge That Firm Used Millions To Buy Cars And Luxury ‘Sky Box’ For Hockey Games

New Jersey AG Says Firm Was Running $40 Million Ponzi Scheme; Carr Miller Capital LLC's Advisory Registration Revoked; Investigators Charge That Firm Used Millions To Buy Cars And Luxury 'Sky Box' For Hockey Games

KABOOM! Carr Miller Capital LLC, its associated advisory busineses and its principals have been stripped of their advisory registrations and charged in New Jersey with operating a Ponzi scheme that sold unregistered securities and gathered at least $40 million, state prosecutors said. At least $36 million of the $40 million came from individuals or IRAs […]