Report By Small-Town Newspaper In Colorado Leads To Forex Ponzi Scheme Arrest In Chicago; FBI Nabs Mark Akins After Durango Herald Readers Provide Tips
A fugitive suspected of helping organize a Forex Ponzi scheme that traded on a claim that a special “algorithm” led to hefty profits has been arrested in Chicago after a small-town Colorado newspaper 1,350 miles away reported he was wanted. The Durango Herald, which has a circulation of 9,400 and has received awards from the […]
FEDS: Former Police Officer Recruited Active-Duty and Retired Cops, Firefighters Into Ponzi Scheme, Defrauding Them Of Nearly $900,000
In yet-another action brought through the interagency Financial Fraud Enforcement Task Force (FFETF), a former police officer in a Cleveland suburb has been charged with operating a Ponzi scheme that defrauded law-enforcement colleagues and firefighters out of $889,000, federal prosecutors said. Raymond Thomas, 49, who formerly lived in Mentor, Ohio, and served on the Warrensville […]
Financial Fraud Enforcement Task Force Credited With Bust In Bizarre Ohio Ponzi Involving ‘Unique Momentum Filter’; Enrique F. Villalba Charged With Wire Fraud
An Ohio man who graduated from West Point and earned a law degree in Washington state has been charged in a bizarre Ponzi and investment-fraud scheme that allegedly combined the science of physics with a unique “momentum filter” that purportedly enabled him to predict how the futures market would behave with “an uncanny degree of […]