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Category: Alleged Ponzi Schemes

Ohio Attorney Charged In Ponzi Scheme And Tax Case Indicted For Failure To Show At Trial; Dale Zucker On The Lam Since Jan. 26; U.S. Marshals Investigating

A Cleveland attorney with ties to Texas and Florida has been indicted for failure to appear at his trial in a Ponzi scheme case, federal prosecutors said. Dale P. Zucker, a medical-malpractice and personal-injury attorney who practiced in Cleveland and Chagrin Falls, was indicted in August 2009 for mail fraud and filing false tax returns.…

Feb 13, 2010
ANOTHER BIG FRAUD IN FLORIDA: Racecar Driver Henri Zogaib Arrested In Alleged $5 Million Ponzi Scheme

Former Grand-Am racecar driver Henri Zogaib has been arrested and jailed in Florida for the felony crime of organized fraud, the Florida Department of Law Enforcement (FDLE) said. Once known for living large, Zogaib, 36, of Longwood, Fla., is listed as an inmate in the Lake County Jail. His bail was set at $100,000. He…

Feb 13, 2010
Receiver In Allen Stanford Ponzi Case Says Politicians Have Not Returned More Than $1.8 Million In Tainted Contributions

Political groups and politicians have not returned more than $1.8 million in tainted campaign donations received from entities and individuals linked to the alleged Allen Stanford Ponzi scheme, according to the court-appointed receiver in the civil case against Stanford. Ralph Janvey, the receiver, said only $87,800 had been returned by politicians. Letters requesting the money…

Feb 10, 2010
PROSECUTORS: Man Operated Identity-Theft Fraud Scheme While Out On Bond In Ponzi Scheme Case; Bryant R. Filter Sentenced To 135 Months In Federal Prison

While completing its investigation of Bryant R. Filter for operating an insurance Ponzi scheme, the U.S. Postal Inspection Service discovered Filter was operating a second fraud scheme, federal prosecutors said. Filter, 39, of Mars, Pa., now has been sentenced to 135 months in federal prison for the Ponzi fraud, and a second scheme in which…

Feb 9, 2010
3 Plead Guilty In Bizarre Shakedown Bid In Anthony Vassallo/EIMT Ponzi Case; 1 Pleads To Conspiracy To Impersonate An Officer

Three individuals who attempted to shake down the operators of a hedge fund associated with the alleged Equity Investment Management and Training Inc. (EIMT) Ponzi scheme have pleaded guilty in California for their roles in the shakedown bid. Craig Anderson, 39, of Chicago, pleaded guilty to conspiracy to impersonate a federal officer and employee; Cassandra…

Feb 8, 2010
FBI Makes Ponzi Arrest In California; Peter Jerald Frommer Faces Up To 233 Years Behind Bars If Convicted On All Counts

UPDATED 5:23 P.M. ET (U.S.A.) A California man has been arrested by the FBI and IRS criminal investigators in an alleged Ponzi scheme involving $12 million. Peter Jerald Frommer was taken into custody this morning, after a federal grand jury returned a 17-count indictment yesterday. Frommer, 34, formerly of Malibu, was charged with two counts…

Feb 5, 2010
FBI: Investigators ‘Wrapping Up’ Decade-Long Probe Into ‘Pump And Dump’ Penny-Stock Schemes That Caused ‘Hundreds Of Millions’ In Losses

UPDATED 2:46 P.M. ET (U.S.A.) And to think a cheerleader for AdSurfDaily once boasted online that Megalido was “offshore” and therefore safe from government meddling, after earlier suggesting that ASD members who did not support the company after Ponzi allegations surfaced perhaps would get dragged off in handcuffs while supporters remained free. To further chill…

Feb 2, 2010
POSTAL INSPECTORS: Ponzi Scheme Targeted Filipino Community In New York; Razel Canedo Arrested In Atlantic City In ‘Nanny’ Ponzi Scheme

EDITOR’S NOTE: If you’re keeping a “Bubba Blue” notebook on the ways to have a Ponzi scheme as opposed to having shrimp, here’s one you might want to list: an alleged “Nanny” Ponzi scheme. In yet another case that couples Ponzi and affinity fraud, Razel Canedo was charged with targeting Filipino immigrants in Greater New…

Feb 2, 2010
GNI BECOMES THIS YEAR’S ASD: Autosurf/HYIP Pimps Continue To Cheerlead Ponzi Schemes As Bank Failures Pile Up In The United States

The new year is starting out like the year that just passed. Banks are failing, unemployment is high, money is not trickling down to small businesses that need capital to expand and create new jobs — and the Ponzi pimps are still putting lipstick on pigs, pushing autosurfs and HYIPs and cheerleading for them even…

Jan 31, 2010
TREVOR COOK AND KINGZ’ MURKY WORLD: Did Accused Ponzi Schemer Cook Send $75 Million To Mysterious ‘Investor’ Known Only As ‘Fased?’ Why AdSurfDaily/AdViewGlobal Cheerleaders Should Pay Attention

UPDATED 5:25 P.M. ET (U.S.A.) KINGZ Capital Management Corp. (KCM) might have been used or contemplated for use as a tool in two far-reaching, incredibly elaborate Ponzi schemes, according to an analysis of public records and other information. One of the schemes ultimately appears to have consumed tens of millions of dollars in a squalid…

Jan 30, 2010
KA-BOOM! Offshore Firm To Which AdViewGlobal Claimed Wire Tie Booted From National Futures Association After Investigators Discover Ponzi Figure Trevor Cook Was Managing Its Investor Pool

UPDATED 1:18 P.M. ET (U.S.A.) A company that denied any ties to the AdViewGlobal autosurf after AVG listed it as a facilitator of offshore wire transfers has been permanently banned by the National Futures Association (NFA) amid allegations that it failed to uphold high ethical standards and failed to supervise its operations. KINGZ Capital Management…

Jan 28, 2010