Tag: CFTC
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Firm In Which TelexFree Figure Faith Sloan Allegedly Hid Money Charged With Fraud In Separate Case
UPDATED 12:14 P.M. EDT U.S.A. Back in April 2014, the SEC charged online huckster Faith Sloan with fraud for pushing the TelexFree scheme. Two month later, in June 2014, the SEC accused Sloan of violating the TelexFree asset freeze by sending nearly $15,000 to an online scheme known as Changes Worldwide LLC for the purchase of “business…
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BULLETIN: Zeek’s Burks, Wright-Olivares, Olivares Settle With Receiver; Agree To $600 Million Consent Judgment ‘To Be Satisfied With Substantially All Of Their Assets’
BULLETIN: (2nd Update 8:29 p.m. EDT U.S.A.) Three individuals alleged to be key insiders of the Zeek Rewards Ponzi- and pyramid scheme have agreed to a $600 million consent judgment with the court-appointed receiver. Receiver Kenneth D. Bell sued several alleged insiders, including Zeek operator Paul R. Burks, former COO Dawn Wright-Olivares and programmer Daniel…
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BULLETIN: Pat Kiley, Trevor Cook Ponzi Pitchman, Sentenced To 20 Years in Federal Prison
BULLETIN: Patrick Kiley, a radio host and conspiracy theorist who warned of “massive, massive chaos” and became a pitchman for the $194 million Trevor Cook Forex Ponzi scheme in Minnesota, has been sentenced to 20 years in federal prison. Kiley, 75, now becomes the fifth person sentenced to a long prison term in the epic…
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URGENT >> BULLETIN >> MOVING: CFTC Sues U.S. Bank, Saying It Permitted Now-Jailed Scammer Russell R. Wasendorf Sr. To Borrow Against Customer Funds To Finance Iowa Headquarters Building Of Epic Fraud Scheme
URGENT >> BULLETIN >> MOVING: (UPDATED 2:54 P.M. EDT U.S.A.) The CFTC has gone to federal court in the Northern District of Iowa, accusing U.S. Bank National Association of permitting now-jailed scammer Russell R. Wasendorf Sr. of Peregrine Financial Group to use Peregrine customer funds as security “on loans it made to Wasendorf, his wife,…
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ZEEK RECEIVER TO NET WINNERS: ‘The Time For Court Action Is Drawing Closer’
UPDATED 1:20 P.M. EDT (APRIL 4, U.S.A.) The court-appointed receiver in the Zeek Rewards Ponzi scheme case has warned net winners that “the time for court action is drawing closer” and that “there is an opportunity for settlement.” Receiver Kenneth D. Bell published a letter to winners today on the website of the receivership. A…
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UPDATE: Nicholas Cox, Figure In North Carolina Fraud Scheme Operating Near Ground Zero For Zeek Rewards, Sentenced To Federal Prison
With the alleged $600 million Zeek Rewards Ponzi scheme dominating local headlines in North Carolina’s Piedmont Triad region, including the city of Lexington in Davidson County, an earlier, smaller fraud scheme operating in the region largely fell out of the news. But the Integra Capital Management LLC Ponzi and fraud scheme operated by Nicholas Cox…
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BULLETIN: CFTC Alleges Robert Stanley Harrison Of Easley, S.C., Was Presiding Over Fraud Scheme That Guaranteed ‘100 Percent Profits’ In 90 Days Through Investors Choice Advisors LLC Commodity Pool; Federal Judge Freezes Assets
BULLETIN: In a case filed under seal last week, the CFTC accused Robert Stanley Harrison of Easley, S.C.. of presiding over a commodity-pool and Forex fraud scheme in which investors were guaranteed a return of 100 percent in 90 days. The seal now has been lifted, and U.S. District Judge G. Ross Anderson has granted…