Archive for May 14th, 2013

BULLETIN: Kansas Issues Cease-And-Desist Order To Profitable Sunrise; Document Names 2 Alleged Promoters, Including Nanci Jo Frazer; State Urges Investors To Contact Securities Commissioner

BULLETIN: Kansas Issues Cease-And-Desist Order To Profitable Sunrise; Document Names 2 Alleged Promoters, Including Nanci Jo Frazer; State Urges Investors To Contact Securities Commissioner

BULLETIN: The state of Kansas has issued a cease-and-desist order against the alleged Profitable Sunrise HYIP scheme, saying the “program” offered “gaudy” returns “of 1.6% to 2.7% on a daily basis.” In a statement, Kansas securities officials say the order names Florida resident David P. Cozzocrea as a Profitable Sunrise pitchman. Cozzocrea’s promo appeared on […]

HORRIFYING: 13 Deaths Linked To West Bengal Ponzi Schemes, Hindustan Times Reports

HORRIFYING: 13 Deaths Linked To West Bengal Ponzi Schemes, Hindustan Times Reports

The Hindustan Times, a newspaper in India, is reporting that 13 deaths have been linked to Ponzi schemes operating in the West Bengal region. The most recent death involved a man found hanging from a tree yesterday, the paper reported. “As many as 12 people have committed suicide, and a director of a Ponzi scheme […]

In Case Reminiscent Of Profitable Sunrise, Alberta Securities Commission Finds That Dale Joseph Edgar St. Jean And Gregory Dennis Tindall Made False Statements And Conducted Ponzi Scheme

In Case Reminiscent Of Profitable Sunrise, Alberta Securities Commission Finds That  Dale Joseph Edgar St. Jean And Gregory Dennis Tindall Made False Statements And Conducted Ponzi Scheme

Two men conducted an offering fraud tied to a purported “bridge lending” business and wiped out investors in a $52 million Ponzi scheme, the Alberta Securities Commission said yesterday. Some of the allegations against Dale Joseph Edgar St. Jean and Gregory Dennis Tindall were remarkably similar to allegations in the United States against the Profitable […]