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Tag: money laundering

SEC Seeks Contempt Order Against Trevor Cook; Minnesota Man Said To Have Bought Two-Person ‘Submarine’ With Ponzi Proceeds

Trevor Cook, the Minnesota man implicated with Christian radio host Pat Kiley in a Ponzi and currency-trading scheme that collected at least $190 million, already has taken the 5th Amendment in a civil case brought by the SEC. The SEC now is seeking a contempt ruling against Cook, amid allegations he violated the asset freeze…

Dec 21, 2009
Yet Another Senior Citizen Guilty In Ponzi Scheme That Targeted Fellow Seniors; Crime Was ‘Ruthlessly’ Executed, NJ Attorney General Anne Milgram Says

A New Jersey financial adviser who created a sham company and operated it for 17 years has pleaded guilty to five felony counts of mail fraud, federal prosecutors said. Separately, state prosecutors announced a guilty plea to a felony charge of money-laundering. Maxwell B. Smith, 69, of Fairhaven, operated a Ponzi scheme that consumed more…

Nov 23, 2009
Defendant In $50 Million Texas Ponzi Taken Into Custody

A previous encounter with the Securities and Exchange Commission and a $50,000 fine did not stop Benny Lee Judah from selling unregistered securities, and now Judah has been taken into federal custody. Judah, 50, of Lubbock, Texas, pleaded guilty today to one count of money laundering and one count of sale and delivery after sale…

Nov 12, 2009
BERNIE’S ‘STING’: Frank DiPascali Jr. Pleads Guilty In Madoff Case; Officials Say He Developed Phony Computer Platform That Appeared To Reflect Real Trading

In the movie “The Sting,” accomplice J.J. Singleton read from a surplus tickertape wire into a microphone to create theÂ impression that horse races that already were over were being run live on the radio. J.J.’s bogus radio calls from the back room helped Henry Gondorff and Johnny Hooker fleece Doyle Lonnegan of $500,000 in…

Aug 12, 2009
BREAKING NEWS: Criminal Probe Under Way Into Practices Of Regenesis 2×2 Matrix; Secret Service Executed Search Warrants In Washington State Amid Ponzi And Wire Fraud Concerns

The U.S. Secret Service is conducting yet-another investigation into the practices of an Internet-based business amid Ponzi allegations. Agents have seized computers and business records from Regenesis Marketing Corp., which operates online as Regenesis 2×2 at this website. A felon on federal probation was an integral part of the company, according to court records. Meanwhile,…

Aug 3, 2009
News And Notes: Surf’s Up Poster Calls For ‘Militia’ To Rise Against Government; BizAdSplash Urges Members Not To Contact MasterCard Vendors

NEWS: A member of the Pro-AdSurfDaily Surf’s Up forum says he is willing to “Bear Arms in line with the Bill of Rights” and storm Washington, D.C., if a “militia” can be formed. In a separate thread, the poster said the government ruined his life last year when it seized assets tied to the Florida…

Jun 7, 2009
AdViewGlobal Promoter Says Prospects Can Bypass Company And Purchase Ad-Packs Directly From Sponsors To Ensure They Get Credited With 200 Percent Match Before Deadline

An AdViewGlobal (AVG) promoter has shared a strategy that potentially could cause a legal calamity for individual AVG promoters and members. The member posted his strategy on an AdViewGlobal forum set up by some Mods and members of the Pro-ASD Surf’s Up forum. AVG, which purports to be headquartered in Uruguay and also is known…

Jun 3, 2009
Stanford/Bowdoin: ‘A Tapestry Of Believable Lies’

Hats off to Houston Chronicle writer Loren Steffy, who explained economically why cons work. A con, Steffy explained, works because the con weaves “a tapestry of believable lies.” It’s a pointed, short, highly memorable line that deserves special mention because it puts readers “right there.” Steffy detailed some of disgraced financier Allen Stanford’s lies in…

Feb 22, 2009
Our Theory Of The AdSurfDaily Case: Steroidal Puppeteers

UPDATED 4:30 PM EST (U.S.A.) We believe the AdSurfDaily case never has been as complex as it sounds. The root of it is Andy Bowdoin’s greed and instinct to scam. He has no more control over it than he does the color of his own eyes. Andy Bowdoin is not a brilliant or gifted man.…

Feb 11, 2009