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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…
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REPORTS: Accused Montana Ponzi Schemer Richard F. Reynolds Has Been Arrested In Kansas
Richard F. Reynolds, the accused Montana Ponzi schemer, has been arrested in Kansas, ABCMontana is reporting via the Associated Press. The AP report cites a report that first appeared in the Bozeman Daily Chronicle. Reynolds also is known as Richard F. Adkins. In March, the office of Montana Commissioner of Securities Monica J. Lindeen said…
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UPDATE: 2 Purported ‘Sovereigns’ Jailed In Florida On Fugitive Warrant From Alabama
Purported “sovereign citizens” Travis Lee Lambert and Janet Tharpe Hancock are listed as prisoners at the St. Lucie County Jail in Fort Pierce, Fla. Lambert, 62, and Hancock, 61, were booked at the jail July 2, according to the St. Lucie County Sheriff’s Office. They are being held on fugitive warrants from Alabama. Lambert was…
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RECOMMENDED READING: The Age Of Evolving MLM Radicalism: BehindMLM Reports On Lawsuit Threats And Security Taunts Directed At Blogger Who Took Issue With How American MLM Brand ‘Xocai’ Chocolate Was Being Marketed In Norway
From the Stepfordian cheerleading for the Zeek Rewards MLM “program” (and its purported nonguaranteed, nonreturn return of between 1 percent and 2 percent a day) to the mind-bending and long-running circus surrounding AdSurfDaily (1 percent a day with an operator who was a recidivist securities huckster and now has pleaded guilty in the ASD MLM…
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BULLETIN: Missing Investment Adviser Named In SEC Civil Complaint Yesterday In Atlanta Has Been Charged Criminally In New York
BULLETIN: Aubrey Lee Price, the missing Georgia man sued by the SEC in an alleged $40 million investment-fraud caper that depleted “substantially all” of the reserves of a bank in Southern Georgia, has been charged criminally in New York with embezzling $17 million from the bank. The office of U.S. Attorney Loretta E. Lynch of…
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Raymond Bitar, Full Tilt Poker CEO, Arrested; Gambling Site Linked To THREE U.S. Banks That Failed, Feds Say; ‘The On-Line Casino Become An Internet Ponzi Scheme,’ Top FBI Official Says
Three vulnerable U.S. banks that processed illegal gambling payments for Full Tilt Poker in exchange for investments in the institutions later failed, federal prosecutors in the Southern District of New York said yesterday. The failures of Sunfirst Bank in St. George, Utah, and All American Bank and New City Bank — both of which were…
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BULLETIN: SEC Says Missing Man Was Mastermind Of $40 Million Fraud In Georgia In Which ‘Substantially All’ Of A Bank’s Reserves Were Misappropriated And Lost In Trading; Persons With Info Asked To Call FBI Or Lowndes County Sheriff’s Office
BULLETIN: The SEC has gone to federal court in Atlanta, alleging that Aubrey Lee Price masterminded a $40 million investment fraud and that Price might have misappropriated millions of dollars from a “failing” bank in southern Georgia after a company he controlled bought a stake in the bank in 2010. The alleged misappropriation involved “substantially…
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