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Category: Alleged Ponzi Schemes

Who is Faye S. Bowdoin? Troubling, New Questions Arise In The AdSurfDaily Ponzi Scheme And Money-Laundering Case

UPDATED 12:56 A.M. EST (Feb. 28, U.S.A.) Documents filed by federal prosecutors in the AdSurfDaily case pointedly refer to Andy Bowdoin’s wife as “Edna Faye Bowdoin.” But other documents on file with the Florida Department of State refer to her as “Faye S. Bowdoin.” Other documents in the Florida Department of State and elsewhere in…

Feb 27, 2009
Two New Motions To Intervene Filed In ASD Case

Using the Curtis Richmond litigation blueprint, two new motions to intervene have been filed in the AdSurfDaily forfeiture case. The motions were filed by Ronald Breckenfelder of Littleton, Colo., and John R. Moore of Ames, Iowa. The motions accuse U.S. District Judge Rosemary Collyer, U.S. Attorney Jeffrey A Taylor, and Assistant U.S. Attorney William Cowden…

Feb 27, 2009
Maddy, A Car Ride, Blankets, A Coin Laundry — And ASD

Today mostly was a day for thinking, not writing. Maddy the Wonder Puppy accompanied me this morning on a drive to my sister’s house. Maddy, at 11 months, hasn’t gotten any better in automobiles. She started whining the moment I backed out of the garage. Not even her favorite blankets — a blue one and…

Feb 26, 2009
EDITORIAL: Westridge Capital Management And AdSurfDaily: Poor North Salem, Poor Quincy

We feel for the residents of North Salem, N.Y., and the residents of Quincy, Fla. Fate has put them in the media glare. Talk at Westchester County lunch counters is not about how the Mets or Yankees or Red Sox will do this year. It’s about how Paul Greenwood, the town supervisor of North Salem,…

Feb 26, 2009
BREAKING NEWS: AdViewGlobal Moves Underground; Posts ‘Articles Of Association’ That Name Bowdoin Step-Son A Trustee; Ex-ASD Exec Gary Talbert Also Named A Trustee

On the Surf’s Up forum, the Mods are saying there are no ties between AdSurfDaily and AdView Global. But information on AVG’s website tells a different story. George F. Harris is named a trustee of a new group that’s calling itself “AV Global Association.” Harris is the son of Edna Faye Bowdoin, wife of ASD…

Feb 25, 2009
BREAKING NEWS: Arrests Made In Westridge Capital Management Case; FBI Alleges Massive Fraud

UPDATED 7:18 P.M. EST (U.S.A.) The FBI has made arrests in the Westridge Capital Management case. Paul Greenwood and Stephen Walsh, principals in WCM and an arm known as WG Trading of Greenwich, Conn., both were arrested. WCM is headquartered in Santa Barbara, Calif. Greenwood and Walsh were arraigned this afternoon in New York. Bail…

Feb 25, 2009
BREAKING NEWS: Autosurf Known As ‘Premium Ads Club’ Tanks; Takes Child’s Chemo Treatments With It, Member Says

An autosurf known as “Premium Ads Club” has tanked. A poster at the ASA Monitor forum said he invested money for his child’s chemotherapy treatment in it. Premium Ads Club advertised a payout of 135 percent over 15 days. Members said the surf was collecting money as late as this weekend and had just come…

Feb 23, 2009
Read The National Futures Association Report On Paul Greenwood And Stephen Walsh; Association Asserts Hundreds Of Millions Of Dollars Unaccounted For Amid Suspensions

We’ve previously pointed out that, in recent times, some of the actions filed against financiers and fund managers — and the findings of investigators — have read like works of fiction. On Friday, for example, Irving Picard, the trustee in the Bernard Madoff case, asserted that Madoff appears not to have purchased securities for customers…

Feb 22, 2009
Stanford/Bowdoin: ‘A Tapestry Of Believable Lies’

Hats off to Houston Chronicle writer Loren Steffy, who explained economically why cons work. A con, Steffy explained, works because the con weaves “a tapestry of believable lies.” It’s a pointed, short, highly memorable line that deserves special mention because it puts readers “right there.” Steffy detailed some of disgraced financier Allen Stanford’s lies in…

Feb 22, 2009
Words That Should Become The New ‘Shot Heard ‘Round The World’ Spoken By Former CFTC Enforcement Chief

By coincidence the words appear in the 13th paragraph of a Chicago Tribune story invoking investors’ sustained lack of luck and reporting on a new series of Ponzi schemes the U.S. Commodity Futures Trading Commission is investigating. The words were spoken by Gregory Mocek, former CFTC enforcement director, and are the most important words spoken…

Feb 21, 2009
DISCUSSION THREAD: CEP Judgments, Ponzis And The Deaf, Noobing, Andy Bowdoin, Surf’s Up, BizAdSplash Surf, More

UPDATE 2:49 P.M. EST (U.S.A.) At a gathering of creditors today, Irving Picard, the trustee overseeing the liquidation of Bernard L. Madoff Investment Securities, said he could find no evidence that Madoff even purchased securities for customers in the past 13 years. Cash came in — and immediately went out — to sustain the Ponzi,…

Feb 20, 2009