Category: Alleged Ponzi Schemes
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BULLETIN: Richard S. Piccoli, 83, Sentenced To 20 Years In Prison For Ponzi And Affinity-Fraud Scheme
In a case that features some of the same elements of the alleged AdSurfDaily Ponzi scheme — a senior citizen as the operator, appeals to religion, the sale of unregistered securities, commingling of funds, seized assets and advertising materials that promised a payout — an 83-year-old New York man today effectively was sentenced to life…
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BREAKING NEWS: Judge Says New Attorney May Appear In DC Court For ASD President Andy Bowdoin
UPDATED 3:52 P.M. EDT (U.S.A.) A federal judge has issued an order that permits Michael R.N. McDonnel, a Florida attorney, to appear in U.S. District Court for the District of Columbia on behalf of AdSurfDaily President Andy Bowdoin. U.S. District Judge Rosemary Collyer issued the order this afternoon in response to a request by Charles…
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EDITORIAL: The Real Meaning Of ‘Treason’
Stewart David Nozette was arrested by the FBI yesterday for attempted espionage. Though Nozette was not formally charged with the Constitutional crime of treason — the only crime specifically described in the Constitution — the crime of espionage is viewed by the public as an act of treason against the United States because selling secrets…
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68-Year-Old Texas Woman Charged In Alleged Ponzi
A 68-year-old Texas woman has been charged with running a $500,000 Ponzi scheme. Julia Ann Schmidt was indicted in Waco. She now joins a roster of other senior citizens recently implicated in alleged Ponzi schemes or convicted of crimes in which a Ponzi was the modus operandi. Federal prosecutors said today that Schmidt posed as…
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UPDATE: No Vana Blue Shares Have Traded Hands Since Oct. 8; No Praebius Communications Trades Since Oct. 9
UPDATED 4:30 P.M. EDT (U.S.A.) No shares of Vana Blue were reported traded today. No trades have occurred since Oct. 8, a period encompassing seven full trading days. Some shares of Praebius did trade today, so its string of no trading since Oct. 9 ended. Here, below, our earlier post . . . Two Pinksheet…
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EDITORIAL: Another Major Thread Goes ‘Poof’ At Surf’s Up
UPDATED 9:39 P.M. EDT (U.S.A.) A thread at the Pro-AdSurfDaily Surf’s Up forum went missing this morning after a days-long debate in which federal prosecutors were called “goons” and a member repeatedly insisted that a government attorney had acknowledged that ASD was not a Ponzi scheme. The thread was titled “William Cowden Resigned.” Various Surf’s…
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NEWS AND NOTES: Arrests Made In Ponzi And Affinity Fraud Scheme That Targeted 21 Michigan Churches; Pennsylvania Man Accused Of Targeting Credit Unions In Ponzi Scheme
Two Maryland men were charged and arrested, amid allegations they fleeced 21 Michigan churches out of $660,000 in a Ponzi and affinity fraud scheme in which pastors were duped into giving a leasing company access to church bank accounts. Authorities said the men perhaps targeted more than 160 churches in 13 states and the District…
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Bank Failure Brings 2009 Total To 99; Foreclosures Pile Up In California, Florida; Prosecutors Battle Mortgage Fraudsters And Ponzi Schemers
UPDATED 1:33 P.M. EDT (U.S.A.) The failure yesterday of San Joaquin Bank in Bakersfield, Calif., brought the total of bank failures in the United States this year to 99. With weeks remaining in the year, it is a virtual certainty that failures will top the 100 mark. Banks have been failing at an average rate…
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INCREDIBLE: Yet Another Florida Man Indicted In Alleged Ponzi Scheme; Prosecutors Say Sean Healy Of Weston Bought A Bentley And ‘Several Ferraris’
There has been nonstop news about Florida Ponzi schemes in the past 48 hours. Several indictments have been announced, the latest involving Sean Healy of Weston. Healy, 38, was charged in a 55-count indictment unsealed in Pennsylvania with multiple counts of wire fraud, mail fraud, money laundering and obstruction of justice. Prosecutors said Healy “spent…
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BREAKING NEWS: Bowdoin’s Attorney Files Motion To Permit New Attorney To Appear In DC Federal Court
UPDATED 7:51 P.M. EDT (U.S.A.) An attorney for AdSurfDaily President Andy Bowdoin has filed a motion to permit another attorney to appear in U.S. District Court for the District of Columbia, the venue of the civil-forfeiture complaint against ASD’s assets. The attorney was identified as Michael R.N. McDonnell of Naples, Fla. Murray’s motion was dated…
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BREAKING NEWS: SEC Attacks ANOTHER Alleged Florida Ponzi And Affinity-Fraud Scheme; FBI Investigating Amid Report Indictments Alleging Securities Fraud, Wire Fraud, Money-Laundering And Conspiracy Have Been Unsealed
UPDATED 2:03 P.M. EDT (U.S.A.) The Securites and Exchange Commission — which announced yesterday that it had broken up a $22 million Ponzi scheme in Florida — announced today that it was working with the FBI to break up yet another Ponzi scheme in the Sunshine State. The newest scheme was targeted at Haitian-Americans who…