Category: Uncategorized
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REPORT: Pyramid Schemes Plaguing China; One Anti-Pyramid Activist Stabbed While Trying To Assist Victim, Another Bitten Repeatedly; Cult-Like Behavior In Spotlight
An anti-pyramid scheme activist in China was stabbed by both the perpetrator of the scheme and the victim, according to the state-run Xinhua News Agency. The wounds were not fatal, but demonstrate the dangers that confront citizens actively engaged in efforts to help an estimated 10 million Chinese caught up in schemes that use promises…
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BULLETIN: Receiver Says Trevor Cook’s Wife Received $103,000 Payout By Wire Day After SEC Came To Minneapolis For ‘Surprise’ Investigation
Gina Cook, the wife of acknowledged Ponzi schemer Trevor Cook, received a wire transfer of $103,437 on June 23, 2009, one day after six attorneys and accountants from the SEC began a “surprise” investigation at the scheme’s Minneapolis headquarters and served Trevor Cook with a subpoena, according to the court-appointed receiver in the case. Receiver…
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Beyond Diamonds Investments Inc., Darial Chatman Subjects Of ‘Cease And Desist’ Order In South Carolina; State Says Firm Was Selling Unregistered Securities And Claiming To Be ‘SEC Compliant’
UPDATED 12:52 P.M. EDT (USA) A South Carolina man previously ordered by Pennsylvania to stop selling unregistered securities for a real-estate business now has been ordered by South Carolina to stop selling unregistered securities for yet-another business, authorities said. Darial Chatman, also known as Darrell Chatman and Darrell Chapman, was ordered by the Pennsylvania Securities…
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SEC: ‘Offshore Does Not Mean Off-Limits’; Agency Charges Famous U.S. Firm With Violating Foreign Corrupt Practices Act In Alleged Bribery Scheme
BULLETIN: The Securities and Exchange Commission has charged General Electric Co. and two foreign subsidiaries in an alleged kickback scheme with the Iraq government “to win contracts to supply medical equipment and water purification equipment.” Robert Khuzami, director of the SEC’s Division of Enforcement, did not mince words when announcing the charges and a settlement…
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INetGlobal Loses Court Appeal; Judge Says Magistrate Judge’s Ruling On Treatment Of Witnesses Was Correct
INetGlobal, a Minneapolis-based autosurf firm under investigation by the U.S. Secret Service and the IRS, has lost an appeal. On May 28, U.S. Magistrate Judge Franklin Noel issued an order that permitted investigators to make contact with witnesses in the case under certain conditions. Paul Engh, an attorney who said he represented INetGlobal employees, filed…
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PONZI NEWS/NOTES: Judge Says Matthew Pizzolato ‘Swindled The Salt Of The Earth’; Feds Allege New Scheme In New York; Henri Zogaib Arrested Again In Florida
EDITOR’S NOTE: The briefs below summarize recent developments in Ponzi cases or actions in new Ponzi cases. Sentenced: Matthew B. Pizzolato, 26, Tickfaw, La. Ripped off senior citizens in Ponzi scheme. In sentencing Pizzolato to 30 years in federal prison, U. S. District Judge Lance M. Africk said Pizzolato “stole from hard working Americans†and…
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LockInYourFreeSpot.com A ‘New DNA URL,’ Company Says: Will Members Transfer Their Prospect Lists To MLM Firm?
Data Network Affiliates (DNA) is asking members to drive traffic to yet-another URL: LockInYourFreeSpot.com. LockInYourFreeSpot.com is at least the third URL DNA has featured this year in bids to recruit members into a multilevel-marketing (MLM) program that purportedly offers everything from license-plate data to cell-phone service and juices. Why DNA, which says it is launching…
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‘Sports Arbitrage’ Betting Program Was Investment Scam, Feds Say; Yul Na Indicted For Wire Fraud, Money-Laundering; Faces Up To 890 Years In Prison
A man has been indicted in Las Vegas for stealing nearly $1 million from investors by telling them they were participating in a “sports arbitrage” betting program and could not lose, federal prosecutors said. An arrest warrant has been issued for Yul Na. He was charged in a criminal indictment with 30 counts of wire…