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Category: The Economy

In Explosive New Allegations, Receiver Says Jeremy Johnson Associate Opened New Bank Account In November 2012 And That Firm Owned By Johnson’s Parents Wired $500,000 Into It — And That Almost All Of The Money Was Removed By Associate On Same Day In Cash

EDITOR’S NOTE: Utah has been abuzz since the Salt Lake Tribune reported on Jan. 11 that a plea deal between Jeremy Johnson and the government had unraveled when prosecutors balked “at placing a list of people into the record that Johnson said prosecutors had promised not to indict if he entered a guilty plea.” “Included…

Feb 13, 2013
Legisi HYIP Pitchman Matthew John Gagnon Pleads Guilty, Admits He Didn’t Disclose ‘Touting’ Compensation Of More Than $1 Million And Caused More Than $7 Million In Losses

Legisi HYIP Ponzi-scheme pitchman Matthew John Gagnon has pleaded guilty in the Eastern District of Michigan to a criminal charge of not disclosing he’d been paid more than $1 million by Legisi and its operator Gregory N. McKnight to tout the “program” online. In a plea agreement now public after being fashioned in October and…

Feb 11, 2013
NORTH CAROLINA: Jonathan Davey, Figure In Infamous ‘Black Diamond’ And ‘Divine Circulation Services’ Ponzi And Fraud Caper, Convicted On All Counts; Jury Returned Verdicts In 45 Minutes

UPDATED 7:08 P.M. ET (U.S.A.) Jonathan D. Davey, a Newark, Ohio, certified public accountant and purported hedge-fund manager, has been convicted of all four counts against him in the “Black Diamond” and “Divine Circulation Services” Ponzi and fraud schemes in the Western District of North Carolina. A federal jury, according to prosecutors, took only 45…

Feb 11, 2013
BULLETIN: CFTC Alleges Robert Stanley Harrison Of Easley, S.C., Was Presiding Over Fraud Scheme That Guaranteed ‘100 Percent Profits’ In 90 Days Through Investors Choice Advisors LLC Commodity Pool; Federal Judge Freezes Assets

BULLETIN: In a case filed under seal last week, the CFTC accused Robert Stanley Harrison of Easley, S.C.. of presiding over a commodity-pool and Forex fraud scheme in which investors were guaranteed a return of 100 percent in 90 days. The seal now has been lifted, and U.S. District Judge G. Ross Anderson has granted…

Feb 11, 2013
BULLETIN: Mass Shooting At Delaware’s New Castle County Courthouse

A mass shooting occurred this morning at the New Castle County Courthouse in Wilmington, Del., multiple media outlets are reporting. Wilmington is the state’s largest city. The Wilmington News Journal is reporting that two women were killed by gunfire and three other people were wounded. Among the wounded are two Capitol police officers. The gunman…

Feb 11, 2013
OHIO: Purported ‘Sovereign’ Citizen Allegedly Assaults Officer, Police Dog

A police officer and a police dog allegedly were assaulted Thursday during a confrontation at the home of a purported “sovereign citizen” in the Columbus suburb of Westerville in central Ohio, 10TV.com is reporting. Westerville is situated in Franklin and Delaware counties The station reported that Gabriel Carnelian Pace, the purported “sovereign,” was wanted on…

Feb 9, 2013
NEW HAVEN REGISTER: Witness Says Alcoholics Anonymous Members Were Recruited For Cash-Gifting Scheme And That ‘Largest Conflict I’ve Ever Seen’ In AA Ensued

EDITOR’S NOTE: In May 2012, the PP Blog reported that three women had been arrested on federal charges in Connecticut that flowed from an alleged cash-gifting pyramid scheme. One of the women has pleaded guilty. Two others now are on trial. Cash-gifting often is associated with affinity fraud. The alleged Connecticut scheme centered around women…

Feb 9, 2013
Convicted Ponzi Schemer Andy Bowdoin Of AdSurfDaily Now Listed As Inmate In Florida Federal Prison [UPDATED FEB. 8]

EDITOR’S NOTE: This post originally was published Jan. 24 at 7:33 p.m. It was updated Feb. 8 to include this editor’s note reflecting that Andy Bowdoin now is listed as an inmate at the federal prison camp in Pensacola, Fla. (Pensacola FPC.) The original story published Jan. 24 appears below and includes some edits to…

Feb 8, 2013
BULLETIN: Grand Jury Returns Superseding Indictment Against AdSurfDaily Figure And Purported ‘Sovereign Citizen’ Kenneth Wayne Leaming

BULLETIN: (UPDATED 4:38 P.M. EDT U.S.A.) A federal grand jury in the Western District of Washington has returned a superseding indictment against AdSurfDaily figure and purported “sovereign citizen” Kenneth Wayne Leaming. It is the second superseding indictment against Leaming. The first was filed in 2012. The new indictment was returned yesterday, a day after the…

Feb 7, 2013
URGENT >> BULLETIN >> MOVING: Federal Judge Denies Motion To Appoint ‘Examiner’ In Zeek Ponzi Case; Court Rejects Contention By Alleged Zeek ‘Winners’

URGENT >> BULLETIN >> MOVING: Senior U.S. District Judge Graham C. Mullen has denied a motion by Zeek Rewards affiliates aligned with Robert Craddock to appoint an “examiner.” Craddock’s Fun Club USA and Zeek members and alleged “winners” David Sorrells, David Kettner and Mary Kettner asked for their attorney — Michael Quilling of Dallas —…

Feb 7, 2013
Extraordinary Drama Unfolds In California; Manhunt Under Way For Ex-Cop Who Allegedly Authored ‘Manifesto’ Promising ‘Unconventional And Asymmetrical Warfare’ Against Law Enforcement; Suspect Allegedly Tied To Double Homicide And Ambush Shootings Of Police Officers

An extraordinary drama is unfolding in Southern California involving a former Los Angeles police officer identified as Christopher Dorner. The photo of Dorner (left) was supplied by the Irvine Police Department, which identified Dorner as the suspect in the Sunday shooting deaths of Keith Lawrence and Monica Quan, a college-basketball coach. Dorner is 33. “Irvine…

Feb 7, 2013