PatrickPretty.com

Category: The Economy

Irving Stitsky Sentenced To 85 Years In Real-Estate Ponzi Case; Judge Agrees With Prosecution, Calls Stitsky ‘Inveterate Con Man’

A federal judge has thrown the book at recidivist securities fraudster Irving Stitsky, agreeing with prosecutors that he is an “inveterate con-man” and sentencing him to 85 years in federal prison. Separately, a New York state appeals court — acting unanimously — reinstated portions of a civil lawsuit dismissed by a judge in 2008 that…

Jul 7, 2010
NEWS/NOTES: AdPayDaily Announces Tweak; Data Network Affiliates Asks Members To Participate In Imaginary Relaunch After Lecturing Churches On Their ‘MORAL OBLIGATION’ To Hawk MLM Program

UPDATED 12:39 P.M. EDT (U.S.A.) An upstart autosurf pushed by members of the alleged AdSurfDaily Ponzi scheme has announced a confusing tweak in a confusing manner. In its announcement, AdPayDaily (APD) quoted 12 words from an attorney — and the quotation did not appear to be on the subject of legality. Rather, it appeared to…

Jul 6, 2010
MEMORY LANE: Before DailyProfitPond ‘Surf Tanked In 2008, Operators Warned That ‘Substainability’ Of 12 Percent Daily Payout Was ‘Questionable’

EDITOR’S NOTE: We were researching an unrelated matter last night, and came across this gem (outlined below). In 2008, a number of autosurfs that became popular in the aftermath of the seizure of tens of millions of dollars from the personal bank accounts of AdSurfDaily President Andy Bowdoin tanked just prior to Christmas. One of…

Jul 6, 2010
AP: Fraudster’s Self-Styled Litigation Strategy Led To Lengthier Prison Terms For Followers; Neville Solomon Cited UCC, Religious Passages Instead Of Listening To Lawyer

A 67-year-old fraudster who did not listen to his attorney and embarked on a bizarre legal strategy was sentenced to a longer prison term as a result, the AP is reporting. Meanwhile, the AP is reporting that Neville Solomon met several other defendants in jail and shared his strategy, resulting in longer sentences for inmates…

Jul 4, 2010
DATA NETWORK AFFILIATES: Churches Have ‘MORAL OBLIGATION’ To Pitch Members On Firm’s ‘Mortgage Reduction’ Program; Purported Data And Cell-Phone Firm Venturing Into Foreclosure-Rescue And ‘Resort’ Businesses

A multilevel-marketing (MLM) company that positioned itself as a firm that collected data that could be used by law enforcement and the AMBER Alert program to rescue abducted children — and later declared itself the world champion of cell-phone pricing — may be entering the foreclosure-rescue and real-estate businesses, members said. News about the purported…

Jul 4, 2010
Atlanta Journal Constitution: 3 Floridians Charged In Alleged $425 Million ‘Yellow Pages’ Directory Scam; Separate Research Shows Brother Of 1 Of The Defendants Is International Fugitive

The Atlanta Journal Constitution and the Florida Times Union are reporting that three Jacksonville-area residents have been charged in an alleged $425 million fraud scheme involving mass solicitations for the renewal of dubious “Yellow Pages” listings. Separately, the brother of one of the defendants is listed as an international fugitive by the U.S. Postal Inspection…

Jul 3, 2010
MYSTERIOUS: WebsiteTester.Biz Getting Stranger By The Moment; Apparent Parent Company Of Website Now Advertising ‘Job’ Opportunities

Alpha Market Research, the apparent, Nevada-based parent company of a website known as WebsiteTester.biz, now is advertising “job” openingsÂ on its Twitter site. The domain ownership of both Alpha Market and Website Tester is hidden behind a proxy, and both sites appear to be hosted on the same server. Alpha Market has been issuing news…

Jul 2, 2010
Now, A $145 Million Fraud Scheme in Utah; SEC Charges Travis Wright Amid ‘Sandwich In A Can’ Allegations

A Utah man whose assets — including a taxidermy of a full-body African lion — was put on the action block amid Ponzi allegations earlier this year was selling unregistered securities and running a $145 million offering fraud, the SEC said today. Charged in the case was Travis L. Wright. The SEC said the scheme…

Jul 2, 2010
IT’S OFFICIAL: One Of Andy Bowdoin’s Lawyers Confirmed As U.S. Attorney; Another Tabbed As Federal Magistrate Judge; Firm Put In Charge Of Unraveling Wayne McLeod Ponzi Scheme

It’s enough to fuel the AdSurfDaily conspiracy theorists for years: Pamela Marsh, who represented ASD President Andy Bowdoin in a pyramid-scheme case in state court in Florida, has been confirmed by the U.S. Senate as the new U.S. Attorney for the Northern District of Florida. Meanwhile, Jonathan Goodman, one of the attorneys who represented Bowdoin…

Jul 2, 2010
Receiver For Alleged Wayne McLeod Ponzi Scheme That Bilked Government Workers Opens Website; Michael I. Goldberg Asks For Help From Victims

Saying he is interested in receiving input from victims, the court-appointed receiver in the alleged K. Wayne McLeod/Federal Employee Benefits Group Ponzi scheme has opened a website titled after the name of one of the companies named a defendant in the case by the SEC. Also named a defendant in the SEC case was another…

Jul 1, 2010
UPDATE: June Ends With No Cell-Phone Plan From Data Network Affiliates; Company’s ‘Nature Of Business’ Under Review By BBB

June closed with no cell-phone package from Data Network Affiliates (DNA), despite claims on YouTube that the firm offers “unlimited” talk and text with a free phone for $10 a month. Separately, the Better Business Bureau of Southeast Florida and the Caribbean now says it is looking into the “nature” of DNA’s business and assigned…

Jul 1, 2010