Category: Uncategorized
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BULLETIN: Tom Petters Guilty On All 20 Counts In $3.65 Billion Ponzi Scheme Case In Minnesota
BULLETIN: Minnesota businessman Tom Petters has been found guilty by a Minnesota jury. UPDATED 6:03 P.M. ET (U.S.A.) Jury deliberations encompassed 32 hours over all or parts of five days. Petters blamed the fraud on subordinates, but the jury did not buy into his explanation that he had been inattentive to business since the stabbing…
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Shawn Merriman Pleads Guilty In Colorado Ponzi Case; Faces 20 Years In Prison For Swindling Investors And Using Money To Buy Rembrandt Paintings And Go On Safari
Shawn R. Merriman has pleaded guilty to mail fraud in a Ponzi scheme case that swindled dozens of investors in Colorado, Minnesota and Utah. The scheme involved more than $20 million, prosecutors said. Merriman, 46, of Aurora, Colo., faces up to 20 years in prison and a fine of up to $250,000. The SEC said…
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MALWARE ALERT: Beware Of Email Purporting To Come From The U.S. Centers For Disease Control And Prevention (CDC)
The swine-flu (H1N1) outbreak has led to a “strikingly large malware campaign,” AppRiver reports. An email being sent out by spammers at a rate of 18,000 per minute purports to be from the U.S. Centers for Disease Control and Prevention (CDC), but is actually from a fake CDC site that installs malware. Recipients are asked…
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U.S. Attorney: Rothstein Ponzi Money Went To Politicians, Charities; ‘High-Ranking’ Police Officers Received ‘Gratuities’
In a criminal information and news release dripping with the word “co-conspirators,” federal prosecutors, the FBI and the IRS said Ponzi proceeds were used to grease wheels in law enforcement and pollute the worlds of business and politics in South Florida. Former attorney Scott Rothstein of Fort Lauderdale was arrested for racketeering yesterday. He was…
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Scott Rothstein Arrested; Charged With Racketeering
UPDATED 1:19 P.M. ET (U.S.A.) Former Fort Lauderdale attorney Scott Rothstein was arrested by the FBI this morning after being charged with racketeering and other offenses. The arrest occurred only days after Rothstein was disbarred by the Florida Supreme Court. Rothstein pleaded not guilty. He then was jailed without bail. Separately, federal prosecutors moved late…
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Michigan Man Who Claimed Investment Returns Of 131 Percent Guilty In Ponzi Scheme Case; Mark Richard Hamlin’s Day-Trading Scheme Comparable To ASD’s Dangerous ’80/20′ Reinvestment Program
As Ponzi schemes go, it was far from the largest. But the case of Mark Richard Hamlin demonstrated that even smaller operators use Ponzi schemes to fuel personal spending that consumes an extraordinary percentage of investors’ funds. Hamlin’s day-trading scheme in Michigan gathered about $2 million from at least 90 investors between 2005 and 2008,…
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A PONZI WORLD FIRST? Regulators Have Evidence Accused Minnesota Schemer Trevor Cook Bought A ‘Submarine’ To Shuttle To Private Island
You’ve heard about the Ponzi mansions. You’ve heard about the luxury automobiles — Scott Rothstein’s $1.6 million Bugatti and the $350,000 Rolls-Royces he and suspects in other Ponzi schemes enjoyed. Now comes word that Trevor Cook, implicated in Minnesota with radio talk-show host Pat Kiley in an alleged Ponzi scheme involving at least $194 million,…
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Thanksgiving Thanks For The Word ‘Punters’ . . .
Dear Readers, It is Thanksgiving Day in the United States. We extend to you our warm wishes. Many of you are smarting or downright hurting because of the Ponzi scheme in your life — or, in some cases, schemes. Perhaps this is especially true of our readers who belonged to AdSurfDaily and its so-called clones.…