Archive for June 9th, 2011

OH, UTAH: SEC Alleges Business Executives Used Bogus Press Releases — And Disbarred Attorney — To Sanitize Precious Metals Fraud Scheme

OH, UTAH: SEC Alleges Business Executives Used Bogus Press Releases -- And Disbarred Attorney -- To Sanitize Precious Metals Fraud Scheme

BULLETIN: The SEC has gone to federal court in Utah to seek penalties against a precious metals company and associated firms and individuals,  amid spectacular allegations that a PR firm sold the unregistered securities of its own corrupt penny-stock client and a disbarred attorney enabled the scam by issuing a bogus opinion letter. Utah has […]

ATTORNEY GENERAL: ‘Staggering Volume Of Money Being Stolen Online . . . Has The Potential To Threaten . . . Security Of Our Nation . . . [And . . .] Integrity Of Our Government’

ATTORNEY GENERAL: 'Staggering Volume Of Money Being Stolen Online . . . Has The Potential To Threaten . . . Security Of Our Nation . . . [And . . .] Integrity Of Our Government'

NOTE TO READERS: The headline of this news brief is excerpted from remarks made in Indiana today by U.S. Attorney General Eric Holder. Read Holder’s full remarks here. The attorney general was speaking at a summit on cybersecurity. His remarks may be the clearest sign yet that the United States is dialing up its efforts […]

BULLETIN: Part Of Bo Beckman Fraud Case Devolves Into AdSurfDaily-Like Sideshow; Beckman Filing ‘Bizarre’ Pro Se Claims That Are Hindering Victims From Recovering Assets And Adding Litigation Costs, Receiver Says

BULLETIN: Part Of Bo Beckman Fraud Case Devolves Into AdSurfDaily-Like Sideshow; Beckman Filing 'Bizarre' Pro Se Claims That Are Hindering Victims From Recovering Assets And Adding Litigation Costs, Receiver Says

BULLETIN: In 2009, federal prosecutors warned that pro se pleadings by members of Florida-based AdSurfDaily had the potential to slow efforts to provide restitution for victims of the ASD Ponzi scheme. Pro se filings by ASD President Andy Bowdoin and dozens of ASD members crowded the court docket for months and delayed the implementation of […]

FTC: California Internet Marketer Duped Brits By Making Them Believe He Was Operating In United Kingdom; $500,000 Judgment Entered Against Jaivin Karnani And ‘Balls of Kryptonite’

FTC: California Internet Marketer Duped Brits By Making Them Believe He Was Operating In United Kingdom; $500,000 Judgment Entered Against Jaivin Karnani And 'Balls of Kryptonite'

UPDATED 12:15 P.M. ET (U.S.A., FEB. 6, 2012) An Internet Marketer based in Calfornia used domains with “co.uk” extensions and duped British customers into believing they were doing business with a firm based in the United Kingdom, the Federal Trade Commison said. The actions of Jaivin Karnani and his associated firms, including a company known […]

CFTC Revokes Registrations Of 2 Texas Firms That Operated Forex Ponzi Scheme Targeted At Elderly Churchgoers And Others In At Least 4 States; Firms Used ‘Charts’ Showing Magnificent Earnings And Cherry-Picked Name Of Warren Buffett For Fraud Pitch

CFTC Revokes Registrations Of 2 Texas Firms That Operated Forex Ponzi Scheme Targeted At Elderly Churchgoers And Others In At Least 4 States; Firms Used 'Charts' Showing Magnificent Earnings And Cherry-Picked Name Of Warren Buffett For Fraud Pitch

EDITOR’S NOTE: The cases against M25 Investments Inc. (M25) and M37 Investments LLC (M37) include elements that are common in online fraud schemes. For starters, the offers were targeted at senior citizens and people of faith. Moreover, the firms relied on PowerPoint presentations and charts that wowed victims with tales of fantastic earnings. The fraud […]