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Better Business Bureau Revokes Accreditation Of Speed Of Wealth After SEC ‘Green’ Ponzi Action; Firm Experiences ASD-Like PR Disaster In Wake Of Allegations
The accreditation of a Colorado company implicated in an alleged $30 million “green” Ponzi scheme by the SEC has been revoked by the Denver/Boulder branch of the Better Business Bureau. BBB now gives Speed of Wealth a rating of “F” — the worst possible score on a scale of “A+” to “F” — and says…
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2009 Ends With Ponzi Clawbacks In Nadel Case, Demands By Fleeced Investors In Bolze Case For Politicians To Return Tainted Campaign Donations
EDITOR’S NOTE: There is a link at the bottom of this story to a report filed by Burton Wiand, the receiver in the Arthur Nadel Ponzi case in Sarasota, Fla. We encourage readers to read the document in its entirety. The Nadel case is not yet a year old. Nadel, who turned 77 today and…
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SENIORS HARMED: Judge Issues Findings In CFTC Case Against Matthew B. Pizzolato; Says Investors Lost Retirement Savings In Scheme
A Louisiania man charged criminally in an alleged Ponzi scheme and sued civilly on the same day last month lied to investors, some of whom liquidated retirement savings and annuities only to suffer massive losses by entrusting funds to Matthew B. Pizzolato, a federal judge has ruled. The case against Pizzolato is proceeding on separate…
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Trevor Cook Allegedly ‘Refused’ To Cooperate With Ponzi Receiver; Security Guards Posted At Van Dusen Mansion In Minneapolis
A Minnesota man accused of operating a Ponzi scheme with Christian radio host Pat Kiley is not cooperating with the court-appointed receiver in the case and might have spent $30,000 on “gift cards” after the SEC and CFTC brought twin actions last month, according to the receiver. The receiver, R. J. Zayed, described efforts to…
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BizAdSplash Website Offline For ‘Upgrades,’ But Surf Says It Is ‘Excited’; BAS Also Was ‘Excited’ After Announcing Meltdown In Summer
BizAdSplash, one of the so-called AdSurfDaily autosurf clones, always is “excited” about something. This time it’s “excited” about 2010. The surf, however, says it will be offline for the first four days of the new year — and a note on the site suggests members could not log in for the final eight days of…
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FINRA Issues Alert On ‘Green Energy’ Scams In Wake Of SEC’s Ponzi Allegations Against Mantria/Speed Of Wealth
As the year of the Ponzi scheme comes to a close, the Financial Industry Regulatory Authority has issued an Investment Alert warning the public about a relatively new form of fraud: “green energy investments” that trade on investors’ affinity for keeping the planet clean. Such schemes “promise large gains from investing in companies purportedly involved…
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Alleged Jeffrey Mowen Ponzi Creates Storage Problem For U.S. Marshals Service; Huge Auction Scheduled In Utah
A Utah man arrested in Panama on Ponzi charges, brought back to the United States to stand trial and later implicated in a murder-for-hire plot owned so many cars and motorcycles that the U.S. Marshal’s Service has been given permission to sell them prior to the trial. Jeffrey Lane Mowen had acquired more than 200…
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POLL: As 2009 Draws To A Close, Cast Your Vote For The Most Interesting Figure In The AdSurfDaily Story
EDITOR’S NOTE: Included in this post is a year-end poll to determine “The Most Interesting Figure” in the long-running AdSurfDaily story. Five of the seven choices are individuals who’ve been an intriguing part of the story. The remaining two choices are intriguing entities consisting of individuals. The individuals include Andy Bowdoin (the only individual in…
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REPORT: Feds Open Inquiry Into Allen Stanford’s Political Donations; Committee To Which Andy Bowdoin Donated Money Again Makes News In Ponzi Probe
The Justice Department has opened a probe into the political donations of R. Allen Stanford, according to the Miami Herald. Stanford is jailed in Texas amid allegations he presided over a $7 billion Ponzi scheme on the Caribbean island nation of Antigua. Among the first names to surface were the names of the National Republican…
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SPECIAL REPORT: Alleged Colorado Ponzi Schemer Had Criminal Record For Securities Fraud, Previous Bankruptcy Record; Allegations Reminiscent Of ASD/Golden Panda Cases
EDITOR’S NOTE: This story is about securities and fraud allegations leveled in Colorado against Philip R. Lochmiller and others. The case was brought amid assertions Lochmiller was operating a real-estate Ponzi, although the backdrop of the story is similar to the backdrop of the story on the “advertising” Ponzi allegations against Florida-based AdSurfDaily. Some of…
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Man Jailed For Ignoring Court Order In Puerto Rico-Based Envelope-Stuffing Scheme Targeting Spanish-Speaking Customers; Translators, Postal Inspectors Assisted In FTC Probe
A man has been jailed for ignoring a court order in a civil case and continuing to operate an envelope-stuffing scheme from the area of Rio Grande, Puerto Rico, the Federal Trade Commission announced Dec. 23. Zoilo Cruz, also known as Zoilo Cruz Carrion, conducts business as International Marketing and Universal Wealth. The case was…
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