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Florida Captures ‘Most Wanted’ Insurance Fraudster; Erline Telfort Accused Of Operating Ponizi Scheme To Steal From Finance Company
Florida officials have announced the capture of Erline Telfort, one of the states “Most Wanted” insurance criminals. Telfort, of Broward County, was accused of operating a $500,000 Ponzi scheme and defrauding a finance company. Her arrest was announced by Jeff Atwater, the chief financial officer of Florida. “This arrest is a direct reflection of the…
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JUSTICE DEPARTMENT OFFICIAL: ‘Massive Proceeds’ From Online Crime And Unknown Destinations Of Money Pose Security Risk That ‘Cannot Be Ignored’
In testimony today, Deputy Assistant Attorney General Jason Weinstein told members of the Senate Judiciary Subcommittee on Crime and Terrorism that cybercriminals are posing “ongoing threats” to the U.S. information and financial infrastructure. The threats are posed by “nation-states, criminals, and terrorists who exploit our pervasive dependency on information technology to misappropriate or destroy information,…
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‘Bo’ Beckman’s 11-Room Florida Ponzi Palace Has Screened-In, Heated Pool, Spa, ‘Summer Kitchen,’ Game Room, View Of Golf Course And Two Garages, Appraiser’s Report Says
As alleged Ponzi palaces go, Jason ‘Bo’ Alan Beckman’s Florida property is hardly the gaudiest. Even so, the 11-room home in Palm City has features and amenities many Americans only dream about. But one group of Americans — victims of the Trevor Cook Ponzi scheme — are likely only to have only bad dreams about…
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BULLETIN: Steven Byers, Figure In $255 Million WexTrust Ponzi And Fraud Scheme, Sentenced To More Than 13 Years In Federal Prison
BULLETIN: UPDATED 8:48 A.M. EDT (U.S.A.) Steven Byers, the president and chief executive officer of WexTrust Capital LLC, has been sentenced to 160 months in federal prison for his role in an alleged $255 million Ponzi and fraud scheme that cost investors millions of dollars. Byers, 48, of Oakbrook, Ill., was sentenced by Judge Denny…
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BULLETIN: Peter Jerald Frommer, California Ponzi Schemer, Sentenced To 108 Months In Prison; Victims Tell Tales Of Devastation
BULLETIN: Peter Jerald Frommer has been sentenced to nine years in federal prison for a Ponzi scheme that fleeced investors of more than $8 million. The scheme itself gathered $13 million, and Frommer, 35, advertised “guaranteed” returns of up to 15 percent in a period of only six weeks. The scheme was known as “Cap…
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A PONZI QUANDARY: Convicted And Jailed, 61-Year-Old Schemer May Have Enough Life Insurance To Make Victims Whole. Case May Pose Unique Challenges To Court-Appointed Receiver And Victims Of William Huber’s Massive Fraud
EDITOR’S NOTE: The Ponzi world is infamous for serving up long-term, dark skies and odd stories. Here is a new weather report and entry for the Ponzi Strange-O-Meter. By some accounts, the best definition of financial success is written by CPAs on the Last Great Day of a client’s life. When the final beans are…
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STATEMENT: PP Blog Reports Unusual Incident To Federal Law-Enforcement Agency
On April 6, an unusual communication was directed at the PP Blog. The Blog reported the incident to a federal law-enforcement agency and provided information about the communication to the agency. The Blog is declining to describe the incident, except to say it was menacing in nature.
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TEXAS-SIZED MYSTERY: Day-Care Operator Accused Of Routing ‘At Least’ $60 Million Through Unlicensed Money-Transmitting Business
A Greater Dallas woman who ran a day-care center has been accused by federal prosecutors in Texas of operating an unlicensed money-transmitting business through which “at least” $60 million flowed between October 2004 and January 2008. The case against Christina Sang Bates is the second major case involving money-transmitting businesses to make the news in…
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