Tag: affinity fraud
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BULLETIN: California Woman Pleads Guilty In ‘Christian Rock Concerts’ Ponzi Scheme; Recidivist Swindler Lauren Baumann Used Money From Latest Scam To Pay $10,000-A-Month Mansion Rent, Prosecutors Say
BULLETIN: A California woman has pleaded guilty to wire fraud in a Ponzi scheme in which investors were falsely told their money was being used to fund “Christian rock concerts” and to flip real estate at a profit. Lauren Baumann, 43, of Downey, was a recidivist huckster who failed to disclose she’d been sued for fraud…
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BULLETIN: 77-Year-Old Amish Man Now Faces Criminal Charge In Alleged ‘Massive’ Caper; Monroe L. Beachy Indicted For Mail Fraud; SEC Filed Civil Charges Earlier This Year
An Amish man has been indicted in Ohio in an alleged long-running scheme that devoured more than $16.8 million. Victims of Monroe L. Beachy included fellow Amish and the Amish Helping Fund, according to court filings. Beachy, 77, resides in Sugarcreek, Ohio. He was charged civilly by the SEC in February 2011. A criminal indictment…
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UPDATE: Eliott Jay Dresher Pleads Guilty In $13.5 Million Ponzi Scheme That Traded On Famous ‘NASCAR’ Brand
UPDATE: Eliott Jay Dresher, the California man whose Ponzi scheme traded on the famous racing brand of NASCAR, now faces up to 20 years in federal prison after pleading guilty in Los Angeles to mail fraud. Dresher, 64, of Chatsworth, was jailed in December 2009 in a case brought by the FBI and the U.S.…
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BULLETIN: SEC Says Alleged Life-Settlement Scammer Ran $4.5 Million Fraud And Ponzi Scheme — And Spent $5,000 On ‘Cowboy Boots’ And Another $5,000 For ‘Dating Service’ While Directing $55,000 To A ‘Tribute’ For Deceased Entertainer Michael Jackson; Image Of Former President Bill Clinton Appears On Website
UPDATED 4:32 P.M. EDT (U.S.A.) It’s only getting stranger . . . The SEC has gone to federal court in Los Angeles and obtained an emergency asset freeze for what it described as a $4.5 million life-settlement fraud and Ponzi scheme operated by a man who spent more than $5,000 in investor funds on “cowboy…
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UPDATE: MLM Pitchman Jeff Long Warned Against ‘EZ MONEY Pitches’ When He Fled DNA, Narc That Car Last Year; Long Now Promoting AutoXTen Cycler Amid Claims That Members Can ‘Turn $10 into $199,240’
Jeff Long, one of the purported founders of the AutoXTen matrix-cycler scheme, warned his followers last year to “Stay away from ‘EZ MONEY’ pitches and claims.” A year later, Long appears to be ignoring his own advice. The 2010 warning appeared in a YouTube video Long edited after he had led his troops into registering…
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BULLETIN: FLORIDA — AGAIN (UPDATE): James Risher Ponzi Scheme Used Pitchman Who Targeted Teachers, Retirees, Church Members, Golfers, SEC Says; Risher Had 5 Prior Criminal Convictions; Pitchman Daniel Joseph Sebastian Now Charged Civilly
“[Y]ou invest in this fund and all of a sudden you start making more money than you’ve ever made in your life with your investors. And then all of a sudden you start making enough money where you don’t have to go to work . . . [a]t Safe Harbor, you could retire today, like…
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Former DNA/Narc That Car Pitchman Jeff Long Now Says Churches May Join Matrix Known As AutoXTen; Company Says It Uses AlertPay To Avoid PayPal ‘Limits’; Web Pitchmen Say $10 May Fetch Nearly $200,000
U.S.-based MLM pitchman Jeff Long is one of the purported founders of an “opportunity” known as AutoXTen that is collecting money through Canada-based AlertPay and says churches may join the AutoXTen matrix. Early promos for AutoXTen claim members can “Turn $10 into $199,240.” Long’s recent flops include Narc That Car, which came under fire from…
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BULLETIN: Church Pastor Accused Of Running Forex Ponzi And Fraud Scheme Ordered To Pay More Than $2 Million; Jeremiah C. Yancy Promised Monthly Returns Of 40 Percent And Told Customers His Firm Managed Funds For ‘Orphanages,’ Judge Says
BULLETIN: A federal judge in Texas has ordered the former pastor of an Idaho church and his firm to pay more than $2 million in restitution and penalties in a Forex Ponzi scheme that affected 64 customers, including church members allegedly targeted in the preacher’s scam. The order, which was entered by consent, applies to…