PatrickPretty.com

Month: June 2010

BULLETIN: Yet Another Florida Ponzi Scheme; SEC Accuses Luis Felipe Perez Of Operating $40 Million Fraud Backed By Fake Diamonds And Bogus ‘Pawn Shops’

EDITOR’S NOTE: Here’s one for your Bubba Blue notebook on the various ways to have a Ponzi scheme, as opposed to shrimp. UPDATED 5:50 P.M. EDT (U.S.A.) A Miami man has been charged by the SEC with gathering $40 million in a Ponzi scheme, pocketing $6 million for himself and telling investors they were helping…

Jun 2, 2010
Pathway To Prosperity Case A Subject Of Discussion In Washington’s Highest Power Corridors; Website Of U.S. Attorney General Includes Link To Case Info As Part Of ‘Mass-Marketing Fraud’ Educational Campaign

In November 2009, President Obama formed the interagency Financial Fraud Enforcement Task Force (FFETF). By January, U.S. Attorney General Eric Holder, who answers to Obama,Â publicly warned fraudsters that “if you propagate an investment scheme, if you are complicit in an act of financial fraud, you are writing your ticket to jail.” It now turns…

Jun 2, 2010
BULLETIN: Florida Office Of Financial Regulation Opens Probe Into PPE-Life; Firm Also Under Investigation In South Carolina Amid Allegations It Sold Unregistered Securities

A company under investigation in South Carolina amid allegations it sold unregistered securities now is under investigation in Florida. The Florida Office of Financial Regulation (OFR) confirmed the probe into PPE-Life this morning. â€œOFR has an open investigation [regarding] PPE-Life and its principals at this time and cannot go into any additional details,” said Flora…

Jun 2, 2010
Real HYIP Expert Says ‘Notion Of Secrecy’ In Commercial Fraud Meant To Discourage Reports To Law Enforcement; James Byrne Consulted With Government Before P2P Ponzi Case Was Filed

EDITOR’S NOTE: Here is the declaration of James E. Byrne, an expert with whom the government consulted in the Nicholas Smirnow/Pathway To Prosperity Ponzi scheme case. It is a remarkable read — one that provides a free education from an expert who has consulted with the FBI and Scotland Yard, among other prominent law-enforcement organizations.…

Jun 1, 2010
BULLETIN: United States Seeks To Extradite Pathway To Prosperity’s Nick Smirnow From Philippines

The U.S. government “shortly” will request the government of the Philippines to extradite accused HYIP Ponzi schemer Nicholas Smirnow to the United States to face charges of mail fraud (three counts), wire fraud (four counts), securities fraud (one count) and conspiracy to commit mail fraud, wire fraud, securities fraud and money laundering, federal prosecutors said.…

Jun 1, 2010
Wayne McLeod Becomes Subject Of FBI Probe; Agency Asks Victims, Witnesses To Come Forward

EDITOR’S NOTE: This story originally was published June 30. The PP Blog later encountered a database problem, which caused the site to go down and resulted in the temporary loss of some data. The data now has been retrieved. The FBI in Jacksonville has opened a probe into Kenneth “Wayne” McLeod, the Florida man who…

Jun 1, 2010