Tag: affinity fraud
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Peter C. Son Sentenced To 15 Years In Forex Ponzi Scheme That Targeted Korean-Americans; Courtroom Spectator Heckled Scammer, Declaring He Deserved Death For Crime
A California man accused of bilking Korean-Americans in an $80 million Forex Ponzi scheme was sentenced yesterday to 15 years in federal prison. Prior to the sentencing of Peter C. Son of Danville, a courtroom spectator yelled in Korean that “You’ve got to kill that bastard!” according to the San Francisco Chronicle. In June 2009,…
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BULLETIN: KABOOM x 1,215! Feds Announce ‘Operation Stolen Dreams’ Mortgage-Fraud Sweep; 1,215 Defendants Charged In Largest Mortgage Scammer Takedown In U.S. History
BULLETIN: UPDATED 1:10 P.M. EDT (U.S.A.) At least 1,215 criminal defendants have been named in “Operation Stolen Dreams,” which U.S. Attorney General Eric Holder described as a “three and a half month takedown of mortgage fraud schemes throughout the country.” The mortgage-fraud operation began March 1 and is the largest-such undertaking in U.S. history, Holder…
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OFFICIALS: Ponzi Schemes, Investment Fraud Have Led To Staggering Losses In Utah; Hundreds Of Potential Perpetrators Identified
UPDATED 8:38 P.M. EDT (U.S.A.) Recent Ponzi schemes and cases of investment fraud have cost Utah residents an estimated $1.4 billion, the FBI said today. About 370 investigative “subjects” — defined as “potential perpetrators” in current cases — have been identified, and the agency and its law-enforcement partners have embarked on a public awareness and…
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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…
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Local Police In California Uncover Ponzi Scheme While Investigating Woman For Unrelated Crime; Ponzi Targeted At Latin Immigrants
Police in Redondo Beach, Calif., say they were investigating Mariana Montes for a separate crime and seeking her arrest on a warrant, but discovered during their probe that she had wiped out investors by running a Ponzi scheme targeting Latin immigrants. Montes, 41, now is jailed on the original warrant, and the Ponzi investigation is…