Month: December 2010
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BULLETIN: Company That Did Business With Steve Renner’s Cash Cards International Charged In Massive Forex Swindle; Case Against MXBK Group S.A. De CV Grew Out Of Cooperative Probe Among SEC, CFTC, FBI And IRS; SEC Charges Pitchmen With Blindly Promoting Scam, Even After Collapse
BULLETIN: UPDATED 9:18 A.M. ET (U.S.A., DEC. 8.) A Mexican company listed as a customer of Steve Renner’s Cash Cards International (CCI) in a 2005 scam known as MegaFund now has been charged by the CFTC with running a massive Forex fraud scheme that gathered at least $28 million from more than 800 U.S. customers.…
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BULLETIN: Former Pastor Sentenced To 54 Years In Indiana Ponzi And Affinity Fraud Scheme; Investors Believed They Were Funding Church-Building Projects
BULLETIN: Vaughn Reeves has been sentenced to 54 years in prison after bilking Christians in a $120 million Ponzi- and affinity-fraud scheme in Indiana. Reeves, a former church pastor, is 66. He told investors in Alanar Inc. that it was their “Christian responsibility” to become pitchmen for his then-undiscovered bond scheme. Congregants believed they were…
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BULLETIN: National Investment-Fraud Sweep Dubbed ‘Operation Broken Trust’ Nets 532 Defendants; AG Holder Says Capers Caused More Than $10 Billion In Losses; ‘Undercover Operations’ Part of Task Force Arsenal
U.S. Attorney General Eric Holder and members of President Obama’s Financial Fraud Enforcement Task Force said this morning that a nationwide sweep known as “Operation Broken Trust” has netted 343 criminal defendants and 189 civil defendants. Among the targets of the sweep were purveyors of Ponzi schemes, affinity fraud, prime bank/high-yield investment scams, foreign exchange…
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STRANGENESS PILES UP: OWOW ‘8G Zip Drive Stick’ Offered From Non-Existent Address Of ‘123 Internet St.’ In Des Moines, Iowa; Similar Bogus Address Of ‘123 Online St.’ Advertises ‘Global Gifting Connection’
Advertising a Des Moines, Iowa, business address of 123 Internet St. and claiming the “owow 8g zip drive stick is the new face of data network affiliates,” an affiliate of DNA/OWOW is seeking to drive business to the firm. But the Des Moines Police Department told the PP Blog this morning that no such street…