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Tag: FBI

Secret Service, FBI, IRS Raid Steve Renner’s INetGlobal Operations In Minneapolis; Scene Resembled AdSurfDaily Raid In Florida

UPDATED 10:40 A.M. ET (U.S.A.) Federal and state agents have raided the Minneapolis offices of Inter-Mark Corp., seeking evidence of a Ponzi scheme, the Star Tribune of Minneapolis/St. Paul is reporting. Inter-Mark Corp. is operated by Steve Renner, who also operates a purported “advertising” service known as INetGlobal.Â In a scene that resembled the August 2008…

Feb 24, 2010
ANOTHER FLORIDA FRAUD CONVICTION: Michael J. Muzio Ran ‘Pump-And-Dump’ Scheme In Case Tied To Ponzi And Affinity-Fraud Scheme Targeting Haitian-Americans

A Florida man implicated in a pump-and-dump scheme tied to a Ponzi- and affinity-fraud scheme has been convicted and faces decades in federal prison. Michael J. Muzio, 46, of Tampa, was convicted on six counts of securities fraud, two counts of substantive wire fraud, two counts of lying to the SEC and the FBI and…

Feb 20, 2010
DEVELOPING STORY: Plane Hits 7-Story Building In Austin; Injuries Reported; IRS Said To Have Office In Building

UPDATED 12:54 P.M. ET (U.S.A.) An airplane reported to be “small” has crashed into a seven-story building in Austin, the state capital of Texas. NBC affiliate KXAN is reporting that at least two people have been injured, that the FBI and the Bureau of Alcohol, Tobacco, Firearms and Explosives are on the scene, and that…

Feb 18, 2010
Ohio Attorney Charged In Ponzi Scheme And Tax Case Indicted For Failure To Show At Trial; Dale Zucker On The Lam Since Jan. 26; U.S. Marshals Investigating

A Cleveland attorney with ties to Texas and Florida has been indicted for failure to appear at his trial in a Ponzi scheme case, federal prosecutors said. Dale P. Zucker, a medical-malpractice and personal-injury attorney who practiced in Cleveland and Chagrin Falls, was indicted in August 2009 for mail fraud and filing false tax returns.…

Feb 13, 2010
STOP THE MADNESS: Now, AmberAlertHelp.org; Narc That Car Promoters Continue To Link Company To Legacy Of Amber Hagerman

Two days ago, we wrote about FindThatCar.org, a website with a red banner at the top that appeals to visitors to “Help us,” as though it were promoting a charity such as the Red Cross. FindThatCar.org actually is promoting Narc That Car, a Dallas-based multilevel-marketingÂ (MLM) company that is building a database to sell information…

Feb 6, 2010
FBI Makes Ponzi Arrest In California; Peter Jerald Frommer Faces Up To 233 Years Behind Bars If Convicted On All Counts

UPDATED 5:23 P.M. ET (U.S.A.) A California man has been arrested by the FBI and IRS criminal investigators in an alleged Ponzi scheme involving $12 million. Peter Jerald Frommer was taken into custody this morning, after a federal grand jury returned a 17-count indictment yesterday. Frommer, 34, formerly of Malibu, was charged with two counts…

Feb 5, 2010
FBI: Investigators ‘Wrapping Up’ Decade-Long Probe Into ‘Pump And Dump’ Penny-Stock Schemes That Caused ‘Hundreds Of Millions’ In Losses

UPDATED 2:46 P.M. ET (U.S.A.) And to think a cheerleader for AdSurfDaily once boasted online that Megalido was “offshore” and therefore safe from government meddling, after earlier suggesting that ASD members who did not support the company after Ponzi allegations surfaced perhaps would get dragged off in handcuffs while supporters remained free. To further chill…

Feb 2, 2010
IT’S OFFICIAL: Scott Rothstein Is A Racketeer; Disbarred Lawyer Pleads Guilty, Forfeits $1.2 Billion; FBI Cites ‘Red Flags,’ IRS Cites ‘Lies’

Disbarred Florida attorney Scott Rothstein has pleaded guilty to a racketeering conspiracy that included mail fraud and wire fraud, and to two separate counts of wire fraud. “Today’s guilty plea is an important step in bringing to justice those who perpetrated a $1.2 billion Ponzi scheme under the guise of operating a legitimate law firm,”…

Jan 27, 2010
PONZI UNIVERSE: Just How Weird Will It Get? Spammer With Possible ASD Ties Tries To Post News Release In 10 Separate PP Threads; Elsewhere, A ‘Comic Book’ Ponzi Scheme

On a day a federal judge ordered alleged Minnesota Ponzi schemer Trevor Cook jailed — in part for not turning over a two-passenger submarine allegedly purchased on eBay with Ponzi proceeds — the following things happened: A would-be PP Blog poster attempted to post the same news release about AdSurfDaily mainstay “Professor” Patrick Moriarty in…

Jan 25, 2010
California Man Guilty In $62 Million Ponzi Scheme; Milton Retana Targeted Latinos, Ordered Evidence To Be Hidden In Back Of Religious Bookstore

In yet another case in which the name of a precious metal or mineral was used in a Ponzi scheme, Milton Retana has been found guilty of six counts of mail fraud and one count of lying to federal investigators. Evidence of the fraud was hidden in the back of a religious bookstore operated by…

Jan 22, 2010
FBI Arrested Ponzi Suspect Aboard Jet Preparing For Flight To ‘Overseas’ Destination Last Month; Tarakeswar Chaudhary Taken Off Emirates Airlines Plane

Federal agents and airport police have arrested a man suspected of operating a Ponzi scheme and fleecing investors in a fraudulent Google stock offering, the FBI said. Tarakeswar â€œTarakâ€ Chaudhary, 49, of Tustin, Calif., was arrested last month at San Francisco International Airport after he boarded an Emirates Airlines flight bound for an “overseas” destination,…

Jan 13, 2010