Archive for December 2011

UPDATE: Jeffery L. Groendyke, Michigan Man Accused In Forex Ponzi Scheme, Ordered To Pay Nearly $1.4 Million In Restitution And Penalties

UPDATE: Jeffery L. Groendyke, Michigan Man Accused In Forex Ponzi Scheme, Ordered To Pay Nearly $1.4 Million In Restitution And Penalties

Jeffery L. Groendyke, the Michigan man accused by the CFTC in May of targeting people of faith and others in a Forex Ponzi scheme, has been ordered to pay $963,141 in restitution and a $420,000 civil penalty. U.S. District Judge Robert J. Jonker issued the order against Groendyke by consent, finding that he fraudulently solicited […]

UPDATE: Criminal Prosecutors Say Jason Bo-Alan Beckman Stole Nearly $4 Million From Elderly Husband And Wife; Wife A Stroke Victim With ‘Hemispheric Paralysis,’ According To Court Records; Beckman’s Manipulations Amount To ‘Contumacious Disobedience,’ SEC Says

UPDATE: Criminal Prosecutors Say Jason Bo-Alan Beckman Stole Nearly $4 Million From Elderly Husband And Wife; Wife A Stroke Victim With 'Hemispheric Paralysis,' According To Court Records; Beckman's Manipulations Amount To 'Contumacious Disobedience,' SEC Says

UPDATE: Facing a margin deficit of more than $10 million and at risk of having his trading account closed in February 2008, Jason Bo-Alan Beckman — a figure in the Trevor Cook Ponzi scheme — sought to address the whopping shortfall and prop up the monumental fraud by stealing about $3.9 million from an elderly […]

SENIOR FRAUD CAVALCADE CONTINUES: Alleged ‘Airplane Parts’ Ponzi Scheme Lands 78-Year-Old Man In Florida Jail; Roger Green And Alleged Accomplice Charged With Racketeering

SENIOR FRAUD CAVALCADE CONTINUES: Alleged 'Airplane Parts' Ponzi Scheme Lands 78-Year-Old Man In Florida Jail; Roger Green And Alleged Accomplice Charged With Racketeering

Saying that money-laundering and securities fraud were part of a $7 million Ponzi scheme involving aircraft parts, the Florida Department of Law Enforcement (FDLE) has arrested two men, charging them with racketeering. Roger Green, 78, remains in custody at the Broward County Jail. Alleged accomplice Victor Brown, 55, of Hollywood, was freed after posting bail. […]

BULLETIN: NOTRE DAME HEARTBREAKER: Legendary Fighting Irish Football Walk-On Daniel ‘Rudy’ Ruettiger Charged With 12 Others In Alleged $11 Million ‘Pump And Dump’ Penny-Stock Swindle

BULLETIN: NOTRE DAME HEARTBREAKER: Legendary Fighting Irish Football Walk-On Daniel 'Rudy' Ruettiger Charged With 12 Others In Alleged $11 Million 'Pump And Dump' Penny-Stock Swindle

BULLETIN: The SEC has charged Daniel “Rudy” Ruettiger and 12 others — including a disbarred attorney — in an alleged penny-stock swindle that gathered $11 million. The civil case is filed in U.S. District Court in Nevada. Ruettiger, 63, of Las Vegas, was the inspiration behind the movie “Rudy,” which depicted his drive to make […]

UPDATE: Alleged Minnesota Shooter Left Courthouse To Retrieve Handgun After Conviction In Sex Case; Daniel Schlienz Returned And Repeatedly Shot Prosecutor, Witness, Sheriff Says

UPDATE: Alleged Minnesota Shooter Left Courthouse To Retrieve Handgun After Conviction In Sex Case; Daniel Schlienz Returned And Repeatedly Shot Prosecutor, Witness, Sheriff Says

Cook County, Minn., prosecutor Timothy Scannell survived three gunshot wounds yesterday afternoon and remains hospitalized. A second person shot three times at the Cook County Courthouse also survived and remains hospitalized, the Star Tribune of Minneapolis/St. Paul reported. Sheriff Mark Falk laid out some chilling details in a statement today on the arrest of Daniel […]

FEDS: Man Sentenced Yesterday To 105 Years In Offshore Scam That Endangered U.S. Military Filed ‘Hundreds Of Billions Of Dollars Of Fraudulent Default Judgments’ After Arrest In Previous Scam

FEDS: Man Sentenced Yesterday To 105 Years In Offshore Scam That Endangered U.S. Military Filed 'Hundreds Of Billions Of Dollars Of Fraudulent Default Judgments' After Arrest In Previous Scam

Though not using the phrase “sovereign citizen” when describing the courtroom actions of Roger Charles Day Jr., the Department of Justice said yesterday that Day “filed hundreds of billions of dollars of fraudulent default judgments against more than 100 people who Day claimed had prosecuted him unfairly.” Included among Day’s targets were “investigating agents, the […]

‘AutoXTen,’ Ponzi Forum Darling And Scheme Linked To Former DNA And Narc That Car Pitchman Jeff Long, Goes Missing After Long Traded On Patriotism And Claimed ‘Opportunity’ Was Appropriate For ‘Churches’

'AutoXTen,' Ponzi Forum Darling And Scheme Linked To Former DNA And Narc That Car Pitchman Jeff Long, Goes Missing After Long Traded On Patriotism And Claimed 'Opportunity' Was Appropriate For 'Churches'

AutoXTen, the absurd matrix cycler that came to life this summer even as the state of Oregon was issuing a public warning against pyramid schemes and ordering a $345,000 penalty against a cycler pitchman, has gone missing. The AutoXTen website is registered in the name of Jeff Long, an MLM huckster who sang the praises […]

BULLETIN: 3 People Shot At Cook County Courthouse In Minnesota; Suspect In Custody, County Website Says; Prosecutor Is Among Victims, Newspaper Reports

BULLETIN: 3 People Shot At Cook County Courthouse In Minnesota; Suspect In Custody, County Website Says; Prosecutor Is Among Victims, Newspaper Reports

BULLETIN: Three people were shot this afternoon at the Cook County Courthouse in Grand Marais, Minn., the Minnesota Department of Public Safety said. Two gunshot victims were taken to Essentia Health Hospital in Duluth, St. Louis County, about 110 miles southwest of Grand Marais.  Their conditions are unknown, and their names were not released. A […]

URGENT >> BULLETIN >> MOVING: SEC Says Utah Father And Son Were At Helm Of $220 Million Ponzi Scheme That Traded On Faith

URGENT >> BULLETIN >> MOVING: SEC Says Utah Father And Son Were At Helm Of $220 Million Ponzi Scheme That Traded On Faith

URGENT >> BULLETIN >> MOVING: The SEC has gone to federal court in Utah to halt what it described as a $220 million real-estate Ponzi scheme that appeared to grow in part because the alleged operators used their membership in the Church of Jesus Christ of Latter-Day Saints to disarm skeptics. A “complex web of […]

DONATION POST: The Ponzi/Fraud Scourge Continues

Dear Readers, We’re midway through December and are facing the challenge of carving out a tolerable existence and the costs of keeping the PP Blog going into the new year. The cupboard is bare, and today we’re once again asking for your help. Today began as do so many days: A quick look in our […]

Police Confirm That Name Of Text Cash Network Does Not Appear On Building In Boca Raton, Fla.

Police Confirm That Name Of Text Cash Network Does Not Appear On Building In Boca Raton, Fla.

One of the mysteries surrounding an upstart MLM business known as Text Cash Network (TCN) only is getting deeper. Despite photos published online that show the name of “TEXT CASH NETWORK” in large letters near the crown of its purported headquarters building in Boca Raton, Fla., the Boca Raton Police Department said this morning that […]