Archive for October 4th, 2011

BULLETIN: Senior Ponzi Schemer Edward May, 75, Sentenced To 16 Years In Federal Prison; $350 Million Ponzi Swindle Called Largest In Eastern Michigan History

BULLETIN: Senior Ponzi Schemer Edward May, 75, Sentenced To 16 Years In Federal Prison; $350 Million Ponzi Swindle Called Largest In Eastern Michigan History

BULLETIN: Edward May, 75, effectively has been sentenced to life in prison for orchestrating an elaborate Ponzi scheme that gathered about $350 million and fleeced 1,200 people. Many of his victims were fellow senior citizens, although May also altered the lives of younger victims. Prosecutors described the May Ponzi as the largest in the history […]

BULLETIN: California Woman Pleads Guilty In ‘Christian Rock Concerts’ Ponzi Scheme; Recidivist Swindler Lauren Baumann Used Money From Latest Scam To Pay $10,000-A-Month Mansion Rent, Prosecutors Say

BULLETIN: California Woman Pleads Guilty In 'Christian Rock Concerts' Ponzi Scheme; Recidivist Swindler Lauren Baumann Used Money From Latest Scam To Pay $10,000-A-Month Mansion Rent, Prosecutors Say

BULLETIN: A California woman has pleaded guilty to wire fraud in a Ponzi scheme in which investors were falsely told their money was being used to fund “Christian rock concerts” and to flip real estate at a profit. Lauren Baumann, 43, of Downey, was a recidivist  huckster who failed to disclose she’d been sued for fraud […]