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INCREDIBLE: Yet Another Florida Man Indicted In Alleged Ponzi Scheme; Prosecutors Say Sean Healy Of Weston Bought A Bentley And ‘Several Ferraris’
There has been nonstop news about Florida Ponzi schemes in the past 48 hours. Several indictments have been announced, the latest involving Sean Healy of Weston. Healy, 38, was charged in a 55-count indictment unsealed in Pennsylvania with multiple counts of wire fraud, mail fraud, money laundering and obstruction of justice. Prosecutors said Healy “spent…
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BREAKING NEWS: Michael Riolo Sentenced To More Than 24 Years In Prison For Bilking Clients In Florida Ponzi Scheme That Collapsed After Nine Years
To many residents of Florida, Michael Riolo was their Bernard Madoff. Riolo, 38, of Boca Raton, was sentenced to more than 24 years in prison (293 months) today for bilking investors in a $44 million Ponzi scheme. The scheme began in 1999 and collapsed in 2008. “During these tough economic times, it is more important…
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BREAKING NEWS: Bowdoin’s Attorney Files Motion To Permit New Attorney To Appear In DC Federal Court
UPDATED 7:51 P.M. EDT (U.S.A.) An attorney for AdSurfDaily President Andy Bowdoin has filed a motion to permit another attorney to appear in U.S. District Court for the District of Columbia, the venue of the civil-forfeiture complaint against ASD’s assets. The attorney was identified as Michael R.N. McDonnell of Naples, Fla. Murray’s motion was dated…
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Florida Man Who Created 260 eBay Accounts Convicted In Elaborate Scam That Bilked $717,000 From Customers
The spread of online commerce has been accompanied by a spread of elaborate frauds — some of which have gathered tens of millions of dollars. Accompanying the fraud have been stares of disbelief. Not all of the stares have been directed at the fraudsters themselves. Indeed, thousands and thousands of people globally at any point…
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BREAKING NEWS: SEC Attacks ANOTHER Alleged Florida Ponzi And Affinity-Fraud Scheme; FBI Investigating Amid Report Indictments Alleging Securities Fraud, Wire Fraud, Money-Laundering And Conspiracy Have Been Unsealed
UPDATED 2:03 P.M. EDT (U.S.A.) The Securites and Exchange Commission — which announced yesterday that it had broken up a $22 million Ponzi scheme in Florida — announced today that it was working with the FBI to break up yet another Ponzi scheme in the Sunshine State. The newest scheme was targeted at Haitian-Americans who…
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BREAKING NEWS: SEC, CFTC Seek To Smash Alleged Florida-Based Ponzi Scheme With Ties To Panama; David F. Merrick Charged With Unlawfully Acting As Investment Adviser And Operating An Unregistered Foreign Investment Firm From Inside The United States
UPDATED 12:39 A.M. EDT (OCT. 16 U.S.A.) In twin actions that may send shockwaves across the offshore autosurfing “industry,” the Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission have gone to court to stop an alleged Florida-based Ponzi scheme that claimed a presence in Panama. Today’s announced actions by the SEC and…
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EDITORIAL: Our Best Wishes To ‘Gomer Pyle,’ AUSA
William R. Cowden is the man some supporters of AdSurfDaily Inc. love to hate. Cowden’s middle name is “Rakestraw.” Such a name posed an altogether too enticing opportunity for one ASD apologist. The apologist opined that Cowden, a federal prosecutor acting on behalf of victims of an alleged $100 million Ponzi scheme, should be placed…
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Street Address Of ASD Site That Made Odd Claims Before Vanishing Tied To Major Insurance-Fraud Investigation
The street address listed for the domain ASD2Day.com appears in Florida records as the address of a woman charged with patient brokering and solicitation in a major insurance-fraud sting. Records show that a woman named Barbara Cruz was charged with four felony counts of insurance fraud in 2000. The name Barbara Cruz was listed as…
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Site That Used ASD’s Name And Made Odd Claims While Bowdoin Was Negotiating With Prosecutors Goes Offline
A website known as ASD2Day.com that was registered Aug 19 in the name of a Florida woman now is throwing a server error and appears to be offline. ASD President Andy Bowdoin was in negotiations with federal prosecutors when the ASD2Day domain name was registered, and some ASD members were participating in a PR campaign…
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EDITORIAL: An Odd Week For America
Last week was an odd one for millions of Americans. President Obama was announced the winner of the Nobel Peace Prize, and no one really knew what to do. The Peace Prize is the big one, the Nobel people remember for generations. But Obama has been in office only months, and the Nobel committee more…
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Government Revokes Plea Offers In Case Against ‘Professor’ Patrick Moriarty; Prosecution Says It Has Seven Binders Of Evidence, Including Evidence From A ‘Casino’
Federal prosecutors have revoked plea offers made during discussions with a federal public defender representing AdSurfDaily mainstay “Professor” Patrick Moriarty. Moriarty has hired a new attorney, and prosecutors have advised the attorney that they have “voluminous” evidence, including seven 4-inch binders of records. Part of the evidence came from records at an unspecified casino, according…
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