BULLETIN: Barry Minkow, Ponzi Fraudster Turned Pastor And Investigator After 7 Years In Slammer, Charged Criminally In Stock-Manipulation Scheme
Barry Minkow, who presided over a colossal Ponzi scheme as a young man, spent seven years in federal prison and emerged to become a church pastor and tell the world he no longer was a criminal, has been charged criminally in Florida in a stock-manipulation scheme. Minkow, 44, allegedly induced law enforcement to open a […]
BULLETIN: Feds Charge Minneapolis Man Amid Suspicions He Used Loot From Trevor Cook Ponzi Scheme To Party And Gamble With Strippers While Victims Suffered
BULLETIN: Five days after Ponzi swindler Trevor Cook pleaded guilty to defrauding victims in an elaborate international scam that reduced investors to ruin, a Minneapolis man hid proceeds from the caper from law enforcement and the court-appointed receiver, federal prosecutors said. Victims of the Cook scheme — many of whom were people of faith — […]
‘Churning’ Scammer Fleeced 9/11 Widow, Disabled Daughter; Victim’s Husband Was Naval Officer Killed In Pentagon Attack, Authorities Say
A Massachusetts man entrusted with $3.7 million from a widow whose husband was a Naval officer killed in the 9/11 terrorist attack on the Pentagon has been charged by state and federal authorities in a “churning” case. James J. Konaxis, 52, of Beverly, pocketed more than half a million dollars in commissions by making a […]
‘TWO FOR ONE’ CASE UPDATE: New Charges Lodged Against Alaskans Accused In Plot To Murder Judge, State Troopers; IRS Employee Also Was Targeted, Feds Say
A federal grand jury has returned a superseding indictment against an Alaska man accused earlier this month of threatening to kill a federal judge. The grand jury lodged additional charges against Lonnie G. Vernon, while also indicting Vernon’s wife, Karen L. Vernon, along with Francis Schaeffer Cox and Coleman L. Barney. Each of the defendants […]
PRIMING THE PUMP: TalkGold, MoneyMakerGroup Publish String Of ‘I Got Paid’ Posts From Club Asteria Members; ‘It’s No Scam Now,’ Poster Declares
Two forums listed in federal court documents as places from which Ponzi schemes are promoted have published a series of “I got paid” posts from commentators who say they are members of Club Asteria (CA). The “I got paid” posts on MoneyMakerGroup and TalkGold appeared after CA members had complained publicly about not getting paid […]
STATEMENT: Unusual Event At PP Blog
At approximately 1:05 a.m. (EDT) today, the PP Blog began to experience unusually high traffic volume and a highly unusual traffic pattern. The source of the traffic is unclear. What is clear is that IPs from all over the world suddenly began to pull “old” stories, meaning that the URLs being pulled existed in the […]
FTC Warns That Scammers Are Trading On Radiation Fears To Hawk Potassium Iodide Treatment In Aftermath Of Events In Japan; Be Cautious And Selective, Agency Advises
Fraudsters are following the headlines about radiation fears in Japan and designing sales pitches to scare U.S. consumers into buying potassium-iodide treatments, the FTC warned today. Last week, the agency warned against charity scams that may emerge to mine illicit profits from the devastating earthquake and tsunami. “Potassium iodide, or KI, can help prevent thyroid […]
UPDATE: Club Asteria Members Use TalkGold Ponzi Forum To Announce That Firm Now Has More Than 200,000 Members; Separately, Some Members Grumble About Missing Payouts
EDITOR’S NOTE: The adjective-inspiring story below is made possible by the incongruous behavior of online pitchmen who operate in an environment the Financial Industry Regulatory Authority (FINRA) described last year as a “bizarre substratum of the Internet.” Two promoters of Club Asteria, a business “opportunity” purportedly operated by a woman variously described as a former […]
URGENT >> BULLETIN >> MOVING: Federal Judge Refuses To Toss Indictment Against AdSurfDaily President Andy Bowdoin; Ruling May Deal Crushing Blow To ‘Autosurf’ Trade; ‘These Alleged Facts Smack Of An Investment,’ Court Says
BULLETIN: U.S. District Judge Rosemary Collyer has rejected AdSurfDaily President Andy Bowdoin’s sweeping claim that the indictment against him should be dismissed because ASD met none of the three prongs of the “Howey Test” under federal securities laws and a Supreme Court precedent that determines what constitutes an “investment contract.” Collyer’s refusal to dismiss the […]
STATEMENT: PP Blog Takes ‘Prudent’ Measures In Response To Security Concerns
MARCH 18, 2011: The PP Blog today made certain prudent adjustments to its publishing well in response to security concerns. The adjustments center on how the Blog treats a tiny fraction of the thousands of pages in its archives, and what web browsers will display when readers visit those pages. The Blog will have no […]
FLORIDA — AGAIN: CFTC Charges Sunshine State Couple Amid Spectacular Allegations They Posed As Forex Experts, Targeted Seniors And Handed Off More Than $22 Million To Man Who Was Trying To Cover Up Previous Ponzi Scheme
Gary and Brenda Martin of St. Augustine, Fla., posed as Forex dealers and experts, operated a website advertising their purported expertise, bragged about the talents of their unqualified sales “consultants” — and collected more than $22 million in an incredibly elaborate fraud scheme, the CFTC has charged. Neither of the Martins was registered with the […]