Author: PatrickPretty.com
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UPDATE: Delaware AG Beau Biden Says Credit USA Pyramid Scheme Cost Two State Residents More Than $100,000; Victims Asked To Contact Prosecutors
The alleged Credit USA Inc. multilevel-marketing (MLM) pyramid scheme cost two Delaware residents more than $100,000, Attorney General Beau Biden said. Biden has asked other potential victims to contact his Investor Protection Unit at 302-577-8424. A state indictment announced two days ago charged Terrel Alexander, 41, Nicole Alexander, 41, and William Love III, 39, with…
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MLM Firm Credit USA Inc. Hammered By State Attorneys General Amid Pyramid Scheme, Securities Allegations; Terrel Alexander, Nicole Alexander, William Love III Indicted
UPDATED 3:07 P.M. EDT (U.S.A.) State prosecutors in Delaware and New Jersey have lowered the boom on an alleged multilevel-marketing (MLM) pyramid scheme known as Credit USA Inc. Credit USA purportedly sold credit-repair and “identity protection” services, and operated the company to enrich three criminal defendants unjustly, prosecutors said. Criminal indictments were handed up in…
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DEVELOPING STORY: Douglas Ballard, Banker Accused Of Lending Money For Guy Mitchell’s Alleged ‘Private Island In The Bahamas,’ Pleads Guilty; Case Part Of $1 Billion Failure Of Integrity Bank
A Georgia banker accused of lending a now-accused Florida real-estate fraudster money to buy a “private island” in the Caribbean has pleaded guilty to conspiracy to commit bank fraud and to receive bribes, and to a single count of tax evasion, federal prosecutors said. Douglas Ballard, 40, of Atlanta, formerly was the executive vice president…
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Irving Stitsky Sentenced To 85 Years In Real-Estate Ponzi Case; Judge Agrees With Prosecution, Calls Stitsky ‘Inveterate Con Man’
A federal judge has thrown the book at recidivist securities fraudster Irving Stitsky, agreeing with prosecutors that he is an “inveterate con-man” and sentencing him to 85 years in federal prison. Separately, a New York state appeals court — acting unanimously — reinstated portions of a civil lawsuit dismissed by a judge in 2008 that…
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DATA NETWORK AFFILIATES: Churches Have ‘MORAL OBLIGATION’ To Pitch Members On Firm’s ‘Mortgage Reduction’ Program; Purported Data And Cell-Phone Firm Venturing Into Foreclosure-Rescue And ‘Resort’ Businesses
A multilevel-marketing (MLM) company that positioned itself as a firm that collected data that could be used by law enforcement and the AMBER Alert program to rescue abducted children — and later declared itself the world champion of cell-phone pricing — may be entering the foreclosure-rescue and real-estate businesses, members said. News about the purported…
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Now, A $145 Million Fraud Scheme in Utah; SEC Charges Travis Wright Amid ‘Sandwich In A Can’ Allegations
A Utah man whose assets — including a taxidermy of a full-body African lion — was put on the action block amid Ponzi allegations earlier this year was selling unregistered securities and running a $145 million offering fraud, the SEC said today. Charged in the case was Travis L. Wright. The SEC said the scheme…