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BULLETIN: SEC Goes To Federal Court In Dallas To Halt Alleged Ponzi Scheme Involving DOZENS Of Companies; China Voice Holding Corp. Implicated In Alleged Domestic And International Fraud
BULLETIN: UPDATED 3:07 P.M. EDT (U.S.A.) The SEC has gone to federal court in Dallas to halt the operations of what it described as a highly complex fraud and Ponzi scheme involving a purported VOIP/telecommunications firm and more than 40 individuals and companies. A federal judge has frozen the assets of China Voice Holding Corp.,…
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URGENT >> BULLETIN >> MOVING: Keith Simmons’ Forex Ponzi Caper Leads To Criminal Charges And Deferred Prosecution Against North Carolina Bank; CommunityONE Bank Charged With Not Maintaining Effective Anti-Money Laundering Program
BULLETIN: Federal prosecutors say the collapsed Forex Ponzi scheme operated by Keith Franklin Simmons put an undercapitalized North Carolina bank with 45 offices in 38 communities in harm’s way. In a dramatic announcement, Justice Department officials said CommunityONE Bank N.A of Asheboro, N.C., turned a blind eye to Simmons and did not file a single…
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KABOOM! Texas Jury Hits ‘Debt-Repair’ MLM Firm With $13.8 Million Verdict; Panel Even Says Defendants Must Pay State’s Cost If They Appeal
BULLETIN: UPDATED 10:03 P.M. EDT (U.S.A.) A jury in Harris County, Texas, has thrown down the gauntlet to hucksters targeting financially strapped consumers by finding more than 1,400 violations and returning a spectacular verdict of $13.8 million against a purported “debt repair” firm that had a multilevel-marketing component. The jury, which found that the accused…
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BULLETIN: Suspect Captured In Colorado Pipe-Bomb Case; Earl Albert Moore Nabbed By Boulder Police Department; Records Show He Was Released From Federal Prison Less Than Two Weeks Ago
BULLETIN: A man who spent time in federal prison for bank robbery and is believed to have left a pipe bomb and two propane tanks at a Colorado shopping mall last week has been captured by the Boulder Police Department at a grocery store, the FBI said. Earl Albert Moore, 65, had become the subject…
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Man, 79, Becomes Fugitive In Ponzi Scheme Case; Gerald J. Berke Wanted By FBI In Alleged $81 Million Caper
It is not unusual for senior citizens to operate Ponzi schemes — and here is another alleged example. Gerald J. “Jerry” Berke, 79, is wanted by the FBI for an alleged Ponzi caper in the Los Angeles area that fleeced about 500 investors out of more than $81 million, the agency said. Berke will turn…
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BULLETIN: Walmart Enters Home-Delivery Grocery Business; Retail Giant Testing ‘Walmart To Go’ Concept In California; News May Be Potentially Devastating To MPB Today Affiliates Because Of MLM’s Up-Front Fees, High Shipping Costs And ‘Dry Goods’ ONLY Policy
BULLETIN: Walmart said today that it was testing a grocery home-delivery concept known as “Walmart To Go” in the San Jose, Calif., market. Walmart.com visitors can test the availability of home delivery in their area by entering their address and Zip code into a form at the Walmart.com website. (Link at bottom of story.) The…
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BULLETIN: ‘Fugitive’ TV Analyst And Commodity-Pool Operator Now Faces Order Demanding $12.5 Million In Restitution And Penalties In CFTC’s Civil Case; Brian Kim Was Indicted In February
BULLETIN: A trader and TV analyst declared a “fugitive” in February by Manhattan District Attorney Cyrus R. Vance Jr. now faces a restitution order and penalties totaling more than $12.5 million in a lawsuit filed by the CFTC. Brian Kim, 35, the operator of a hedge fund known as Liquid Capital Management LLC, appeared on…
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The Coloradoan: Man, 72, Accused Of Ripping Off Fellow Seniors In Ponzi Scheme — Including 100-Year-Old Man
The Coloradoan, citing an arrest affidavit, is reporting that Richard Horace Mayfield, 72, has been charged with ripping off 22 people in a Ponzi scheme. One of the alleged victims is a 100-year-old man. “Most” of the victims were senior citizens, the newspaper reported. Website visitors were told that “Jesus” was the answer to overcoming…
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BULLETIN: Judge Orders Lee Bentley Farkas Detained After Conviction In $2.9 Billion Fraud Caper That Rocked Banking System; Former Taylor, Bean & Whitaker Chairman Once Bragged He Could Could ‘Rob A Bank With A Pencil,’ Prosecutors Say
BULLETIN: A federal jury in Virginia has returned guilty verdicts on more than a dozen counts filed against Lee Bentley Farkas, the former chairman of Taylor, Bean & Whitaker (TBW). A federal judge ordered Farkas, 58, taken into custody immediately. Farkas, accused of contributing to the U.S. mortgage meltdown and the failures of both TBW…
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FLORIDA — AGAIN: State, Local Authorities Say Marguerite Martial Jean Ripped Off Hundreds Of Haitian-Americans In Affinity-Fraud And Ponzi Caper That Targeted Churchgoers
Marguerite Martial Jean has been arrested in Florida on felony charges of operating a $3.4 million Ponzi scheme that targeted Haitian-Americans and churchgoers in the Sunshine State. Florida has been plagued by Ponzi schemes and other forms of financial fraud. The announcement of Jean’s arrest was made by Miami-Dade County State Attorney Katherine Fernandez Rundle.…
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