PatrickPretty.com

Author: PatrickPretty.com

MAGNIFYING GLASS: Local Cops Alerted Receiver In Cook/Kiley Ponzi Case That Credit Card Was Being Used After Asset Freeze

Player in a Ponzi scheme? If alleged Minnesota schemer Trevor Cook’s experience is any indication, you should expect to be placed under a microscope by local merchants and police if you’re named in a complaint by regulators. Cub Foods, a Minnesota-based grocery chain, placed Cook under video surveillance when he entered a local store. A…

Jan 20, 2010
Citing ‘Walks Like A Duck,’ Federal Judge Orders Florida Securities Fraudster Jailed For Hiding Assets From SEC

A federal judge has ordered a Florida man to surrender to U.S. Marshals Jan. 25 after finding him in contempt of court for hiding assets from the SEC overseas. Should Jamie L. Solow fail to surrender by 2 p.m., U.S. District Judge Donald M. Middlebrooks said, marshals will be dispatched to arrest him. Middlebrooks already…

Jan 19, 2010
UPDATE: Prosecutor Lauds FBI Terrorism Task Force In Case That Linked Serial HYIP Promoter To Scheme Operated By Man Convicted Of Financing Terrorism

EDITOR’S NOTE: In an earlier post, we briefly touched on Ponzi peddler Brian David Anderson and his tie to an HYIP operated by a man convicted of financing terror. Federal prosecutors now have released a formal statement on Anderson’s guilty plea in a related Ponzi scheme — and the statement thanked the FBI’s Joint Terrorism…

Jan 19, 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…

Jan 18, 2010
PARTIAL LIST: Gold Nugget Invest (GNI) Just Latest Failed Scheme Promoted By AdSurfDaily Members; One Program After Another Pushed By Promoters Has Collapsed

EDITOR’S NOTE: This list summarizes several programs pushed by members of AdSurfDaily, a Florida company implicated in an alleged $100 million Ponzi scheme. In some cases, the programs were pushed prior to the seizure by the U.S. Secret Service in August 2008 of 15 bank accounts linked to ASD or Golden Panda Ad Builder, one…

Jan 18, 2010
EDITORIAL: Gold Nugget Invest ‘Players’ Create Smokescreen For Failed HYIP; Defend Company On Ponzi Boards, Claiming United States Has No Jurisdiction

EDITOR’S NOTE: Claims often are made that it’s “safe” for U.S. residents to invest in “offshore” opportunities and that offshore enterprises are outside the reach of U.S. regulators and law-enforcement agencies. This column refutes those assertions — and also includes information on Abdul Tawala Ibn Ali Alishtari, also known as “Michael Mixon.” Alishtari operated an…

Jan 17, 2010
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]eâ€™re moving forward with one of the largest relief efforts in our histoy — toÂ save lives and…

Jan 17, 2010
ASD ALL OVER AGAIN? Gold Nugget Invest (GNI) Collapse Brings Out The Conspiracy Theorists, Apologists; Theorists Claim Interpol Investigating SEC

EDITOR’S NOTE: Conspiracy theories quickly became part of the AdSurfDaily story after federal agents seized tens of millions of dollars from the company in August 2008 amid Ponzi scheme allegations. Yesterday reports surfaced that Gold Nugget Invest (GNI), a High Yield Income Program (HYIP) positioned as a betting arbitrage, had collapsed. GNI reportedly announced that…

Jan 16, 2010
REPORTS: Gold Nugget Invest (GNI) Has Collapsed; Belize Issued Warning In November, But Program Pitched On Surf’s Up In December

There are multiple reports that the Gold Nugget Invest (GNI) HYIP has collapsed — although the early spin is that the program is embarking on a “Re-organization.” The government of Belize put out a warning on GNI in November.Â Some members said the warning was meaningless, and continued to tout the program. GNI’s website now…

Jan 15, 2010
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…

Jan 15, 2010
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…

Jan 15, 2010