Category: Alleged Ponzi Schemes
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BULLETIN: 7 Michigan Women Charged With Felonies In Cash-Gifting Scheme; State Police Issue Alert On Pyramid Schemes Targeting Women; Ask Public To Report Gifting Offers
So, you want to involve your family, friends and business associates in a cash-gifting scheme and tell them it it perfectly legal? Seven women have been charged with felonies in Michigan and the Michigan State Police (MSP) are warning that schemes targeting women are sweeping across the state. MSP is asking members of the public…
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CAPTURED: FBI Nabs Perry And Rachelle Griggs In Arizona; Fugitive Ponzi Couple Will Be Transported To Hawaii To Face Charges They Bilked Investors While Perry Griggs Was In Prison
The FBI has captured Perry and Rachelle Griggs, the fugitive Ponzi couple accused of running a scam while Perry Griggs was a federal prisoner in Nevada. The arrest was made in Kingman, Ariz., yesterday. Perry and Rachelle Griggs were indicted in October for wire fraud and mail fraud. They had been missing since January 2010.…
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BULLETIN: SEC Says Attorney Jonathan Star Bristol Helped Convicted Ponzi Swindler Kenneth Ira Starr Steal Millions Of Dollars From Celebrity Clients
BULLETIN: The SEC has charged attorney Jonathan Star Bristol with aiding and abetting the Ponzi and fraud scheme of convicted swindler Kenneth Ira Starr, the so-called “financial adviser to the stars.” Starr pleaded guilty to securities fraud, wire fraud and money-laundering in September. Among his former clients were former U.S. Secretary of State Henry Kissinger,…
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UPDATE: U.S. Attorney Says Ponzi Sentences Handed Down To The ‘3 Hebrew Boys’ Were Longest In History Of South Carolina District; Forex Fraudsters Bought $5 Million Private Jet, $900,000 ‘Party Bus’
UPDATED 4:16 P.M. ET (U.S.A.) Yesterday U.S. District Judge Margaret B. Seymour of the District of South Carolina sentenced the “3 Hebrew Boys” — Tony Pough, Joseph Brunson and Timothy McQueen — to a combined total of 84 years in federal prison for a massive Forex fraud and Ponzi scheme. Today the region’s top prosecutor…
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BULLETIN: Madoff’s Son Found Dead In New York On Second Anniversay Of Father’s Arrest, New York Times Reports
BULLETIN UPDATED 11:51 A.M. ET (U.S.A.): Mark Madoff, the older of Ponzi swindler Bernard Madoff’s two sons, has been found dead in New York on the second anniversary of his father’s arrest, the New York Times is reporting. The death was the apparent result of a suicide by hanging, the newspaper reported. Mark Madoff’s body…
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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…