Month: January 2010
-
WHO IS THE MYSTERY SCHEMER? Cheerleaders, Lawyer, PR Flak Could Not Help Accused Fraudster Defeat The Math
EDITOR’S NOTE: It’s often said that the script of Ponzi schemes does not vary much from case to case. The “story” below could be told by any number of Ponzi scheme figures. Although the words below are made up, the “story” is based on a Ponzi figure currently in the news. After you read the…
-
Bush, Clinton Join Forces For Earthquake Relief; Urgent Appeal Issued In Aftermath Of Devastating Temblor In Haiti
President Obama has asked his predecessors to spearhead a fundraising effort for Haiti earthquake relief. The president appeared yesterday with former President George W. Bush and former President Clinton at the White House to make the announcement. “[W]e’re moving forward with one of the largest relief efforts in our histoy — to save lives and…
-
Court Gives Receiver Go-Ahead To Start Selling Property Tied To Alleged Trevor Cook/Pat Kiley Ponzi; Large-Screen TVs, Slot Machines To Be Auctioned
UPDATED 4:06 P.M. ET (U.S.A.) A federal judge in the SEC and CFTC Ponzi scheme cases against Trevor Cook and Pat Kiley has paved the way for the receiver to begin selling property linked to the alleged $190 million scheme. Among the first items up for bid will be 12 large-screen televisions, two slot machines…
-
Ballroom Dancer Gets 18 Years In Financial Scheme; Wayne ‘Twinkle Toes’ Puff Case In New Jersey Combined Mortgage And Ponzi Fraud
His case signaled that things were desperately out of control in the U.S. mortgage industry, and Wayne Puff was sentenced yesterday to 18 years in federal prison for swindling investors and banks in a massive mortgage and Ponzi scheme that operated between 1998 and 2005. Although Puff had been disciplined by regulators in New Jersey…
-
Former Talk-Radio Host Gregg Rennie Pleads Guilty In Ponzi Scheme; Weizhen Tang Arrested At Toronto Airport
A Massachusetts man accused of targeting senior citizens and people of faith — and fleecing millions of dollars from them in a Ponzi scheme — has pleaded guilty. Meanwhile, Canadian-citizen and Ponzi-scheme suspect Weizhen Tang, the self-described “Chinese Warren Buffet,” was arrested last night at Pearson International Airport in Toronto. Tang was taken into custody…
-
Records Suggest Cook/Kiley Firms Owned At Least 12 Large-Screen TVs And Beer-Dispensing Equipment
In a case that already has featured assertions that alleged Minnesota Ponzi schemer Trevor Cook purchased a submarine on eBay to access his private island in Canada, the receiver in the case has filed papers that suggest Cook also had an affinity for large-screen TV sets. Receiver R.J. Zayed listed 10 TV sets with 50-inch…