-
UPDATE: California Woman Arrested Last Week In Ponzi Case Charged Separately With Stealing From 90-Year-Old Widow And Using Money For Liposuction
A woman jailed in California on Ponzi scheme charges has been charged in a separate case with stealing from a 90-year-old widow and using some of the money to have a liposuction procedure performed in Mexico. Redondo Beach police said they were investigating Mariana Montes for a separate crime when they discovered she was running…
-
California Man Who Tried To Flee Country While His Ponzi Was Disintegrating Sentenced To Prison; John Anthony Miller Was Targeted In FBI/State Department Sting
A California man who tried to adopt the identity of a deceased classmate from his school days to flee the United States while his Ponzi scheme was unraveling has been sentenced to 159 months in federal prison. The FBI and the State Department already were aware that John Anthony Miller’s scheme was falling apart when…
-
Hedge-Fund Manager With ‘Great Tan’ And Porsche ‘Getaway Car’ Sentenced To Decade In Prison For Ponzi Scheme; Judge Scolds Bradley L. Ruderman At Sentencing
After Bernard Madoff’s Ponzi scheme was exposed in December 2008, Beverly Hills hedge-fund manager Bradley L. Ruderman wrote a letter to clients assuring them them their money was safe and deploring Madoff’s “chicanery,” federal prosecutors in the Central District of California said. “[S]uch disgraceful practices will never happen under my watch,†Ruderman declared in the…
-
SAN DIEGO COUNTY: Man On Probation For Ponzi Scheme Starts New Scheme, Prosecutors Say; Edmundo Rubi Targets Filipino Community For Second Time
Four California residents have been indicted on charges they targeted the Filipino Community of Greater San Diego in a foreclosure-rescue investment scam prosecutors have dubbed the “Apocalypse Trust†and “Amerisian Trust†scheme. Edmundo Rubi, one of the defendants, was on federal probation for the infamous “Knights Express†Ponzi scheme that fleeced Filipino investors out of…
-
New Jersey Woman Who Fleeced Unificationist Congregation In $15 Million Ponzi Scheme Gets 70 Months In Prison
A New Jersey woman who told members of the Unification Church that they could turn $3,000 into $6,000 in a year by investing in her real-estate business has been sentenced to 70 months in federal prison. Marcia Sladich, 51, of Clifton, pleaded guilty to mail fraud in July, admitting to U.S. District Judge Katharine S.…
-
SEC Goes After $42 Million In Alleged Ill-Gotten Gains From Arthur Nadel Ponzi; Neil And Christopher Moody Accused Of A Reckless Lack Of Due Diligence And Misleading Investors
UPDATED 5:12 P.M. ET (U.S.A. JAN. 12) So, you want to mislead your clients about your role in your business, rely on the assertions of your business colleague and not perform thorough due diligence and double-check his claims that your investors are making enormous profits? Want to say later — after a Ponzi scheme collapses —…
-
Iranian-Americans Targeted In Beverly Hills Investment- And Affinty-Fraud Scheme, SEC Says; Debentures Program Allegedly Pitched On Persian-Language Radio Show
UPDATED 7:03 P.M. ET (U.S.A. JAN. 12) A Beverly Hills radio host pitched his fraud scheme in Persian and targeted Iranian-Americans in Greater Los Angeles, the SEC said today. Client funds were used to build a mansion for John Farahi, 52, and and his wife, Gissou Rastegar Farahi, 50, the agency said. Client funds also…
Got any book recommendations?