Category: Alleged Ponzi Schemes
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British Con Man Pleads Guilty In £14 Million Ponzi Scheme; Terry Freeman ‘Archetypal Fraudster Happy To Steal Money And Ruin Lives,’ London Detective Says
An Essex trader jailed in 1997 for financial fraud emerged from prison with a new name and swindled investors of £14 million ($28.8 million), the City of London Police Department said. Terry Freeman, 62, known as Terrence Sparks when he was jailed 14 years ago, pleaded guilty in Southwark Crown Court to fraudulent trading, engaging…
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Spectacular Ponzi Scheme Alleged In Utah By SEC; Attorney Who Didn’t Do Homework Helped Fraudster Grease Money Wheel By Calling Investment ‘One Of The Best He Had Ever Seen,’ Agency Says
EDITOR’S NOTE: If you’re an autosurf or HYIP promoter — or a person who is accepting fees for driving business to an investment opportunity based on assertions you cannot independently verify to be truthful — the story below should be instructive. It perhaps will be particularly instructive if part of your fraud game plan is…
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RECOMMENDED READING: Blogger Recalls His Real-Life Encounter With An MLM Stepfordian And Wonders Whether The Cadillac Ever Will Arrive At His House
EDITOR’S NOTE: Blogger Chuck Miller, who posts on the website of the Albany (N.Y.) Times Union, has a post today on the unique circumstances under which he became a self-described “mark” for an MLM pitch nearly 20 years ago. Seems Miller’s MLM memories linger after nearly two decades. (You’ll learn why by clicking on the link…
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Like MPB Today And Data Network Affiliates’ Promoters, TVI Express Pitchmen Used Images Of Warren Buffett And Donald Trump; Government Of South Africa Reportedly Opens Criminal Probe Amid Pyramid Allegations
TVI Express, an MLM company whose pitchmen have used images of business titans Warren Buffett and Donald Trump to plant the seed they backed the firm, has come under criminal investigation in South Africa, according to web records and a media site. Buffett and Trump are believed to have no ties to the firm. News…
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OH, FLORIDA! Spectacular New Allegations Raised In George Theodule Ponzi Scheme; Bank Sued For $68 Million Amid Accusation It Funneled Investors’ Cash To Fraudster Through ‘Drive-Thru’ Window
The Miami Herald broke the story last night (see link at bottom of post) that Wells Fargo, which merged with Wachovia Bank in December 2008 and assumed its liabilities, has been sued for $68 million by the court-appointed receiver in the George Theodule Ponzi scheme in Florida. Theodule largely targeted the Haitian-American community in his…
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BULLETIN: Salt Lake City Man Arraigned In Atlanta On Charges Of Running Ponzi And Fraud Scheme In Which Tens Of Millions Of Dollars Mysteriously Vanished Offshore; Canadian Also Charged In Alleged Caper
BULLETIN: Two men — one from Salt Lake City, the other from Belleville, Ontario — have been charged by federal prosecutors in Atlanta with operating a Ponzi and fraud scheme in which tens of millions of dollars mysteriously disappeared overseas. Thomas Repke, 57, was arraigned today in Atlanta. Prosecutors said he worked with the Canadian…