Archive for December 22nd, 2010

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 […]

‘In God We Trust’ Scammer Who Fleeced Investors Sentenced To 15 Years In Prison; Byron Keith Brown Traded On God’s Name And U.S. Motto To Steal Millions From Clients Of Unlicensed Investment Business

'In God We Trust' Scammer Who Fleeced Investors Sentenced To 15 Years In Prison; Byron Keith Brown Traded On God's Name And U.S. Motto To Steal Millions From Clients Of Unlicensed Investment Business

An affinity fraudster and financial scammer has received a 15-year prison sentence in the “In God We Trust” caper, an online Ponzi scheme that traded on religion and patriotic sentiments while gathering more than $17 million. Byron Keith Brown, 34, of Vienna, Va., also was ordered by U.S. District Judge William M. Nickerson of the […]