Category: Uncategorized
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BULLETIN: Massachusetts Charges Purported Top 20 Shaklee MLM Distributor, Amid Allegations He Drafted Downline Members Into $10.4 Million Ponzi Scheme He Ran Through His Private Companies
BULLETIN: (UPDATED 5:03 P.M. EDT (U.S.A.) The office of Massachusetts Secretary of State William Galvin has alleged that a man who described himself as a Top 20 distributor for Shaklee Corp. — a multilevel marketing firm — drafted members of his 50,000-strong downline into a $10.4 million Ponzi scheme and promissory-notes scam that he was…
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PICTURE STORY: ‘OneX’ Scheme Says It Is Switching To I-Payout; Conference-Call Announcement Made On Same Day U.S. Senate Panel Grilled HSBC Executives And Said Bank Exposed United States To ‘Money Laundering, Drug And Terrorist Financing Risk’
Back in April, federal prosecutors described the purported OneX “program” as a “fraudulent scheme” and “pyramid” pushed by former AdSurfDaily President Andy Bowdoin, the author of the $110 million ASD Ponzi scheme. Bowdoin, 77, now is jailed in the District of Columbia — in part because of his OneX pitches. He’d initially been free of…
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BULLETIN: Now, A ‘Royalty Units’ Scam Pushed By Recidivist Senior Citizen And His Children And Involving Purported $11 Billion Gold Mine At 2 Ohio Gravel Pits, SEC Charges; ‘Flat Out Lies,’ Agency Says Of Claims Surrounding 3 Eagles Research & Development LLC
BULLETIN: The SEC has gone to federal court in Portland, Ore., alleging that a company led by a recidivist huckster and operating in the state sold investors into a “royalty units” scam involving a purported $11 billion gold mine in Ohio and the promise of “whopping returns.” Charged in the alleged caper were Harry Dean…
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Iowa GOP State Senate Candidate Quits Race, Thanks Ron Paul Supporters — And Declares Herself ‘U.S. Senator In The Republic Of The United States Of America’
Using rhetoric commonly associated with the “sovereign citizens” movement, a GOP candidate for a state Senate seat in Iowa abruptly quit the race on July 4 and declared herself “U.S. Senator in the Republic of the United States Of America.” Businesswoman Randi Shannon now calls herself “Senator Randi Shannon,” Patch.com is reporting. Much remains mysterious…
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MORE SENIOR FRAUD: ‘Insider Lending’ Scam: Illinois Man, 82, Pleads Guilty To Duping Bank He Once Led; Bank Later Failed
In what federal prosecutors described as an “insider lending” scam, the 82-year-old former chairman of a bank that failed in 2011 has pleaded guilty to duping the bank and regulators by concealing his interests in loans made by the bank to his secret business associates. James A. Regas, of Oak Brook, caused employees of Western…
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DEVELOPING STORY: CFTC Seeks Asset Freeze Amid Allegations Of Fraud Against Russell R. Wasendorf Sr. Of Peregrine Financial Group Inc.; Wasendorf Reportedly Attempted To Kill Himself Yesterday; Trevor Cook Ponzi Victims At Risk Of Getting Fleeced Twice
EDITOR’S NOTE: The PP Blog first became aware of reports about the suicide bid of Russell R. Wasendorf Sr. last night, after being contacted by a reader who was defrauded in the Trevor Cook Ponzi scheme. Wasendorf apparently sought to take his own life on the sparkling Cedar Falls, Iowa, property of Peregrine Financial Group…