THE ‘CORROSIVE CRIMINAL CONSPIRACY’ OF KENNETH MARSH/GRYPHON HOLDINGS: Among 5,000 Fleeced Victims Are Alzheimer’s Patient, Quadriplegic, Widows: A Terrible Tale Of Retirement Savings Gone, Children’s College Tutition Vaporized, Bankruptcies, Crippling Debt, Divorces, Failing Marriages, Embarrassment
EDITOR’S NOTE: Although this story largely is about Kenneth Marsh and victims of his massive fraud scheme, the PP Blog hopes readers will visit Leagle.com (link below) to read an updated sentencing memo in the Marsh/Gryphon Holdings case. In many ways, the document tells the terrible story of our times . . . So, you’re […]
Another Ponzi Halted In New York; SEC Says Matthew J. Ryan Targeted Senior Citizens In Scheme Involving Company That Existed In Name Only
American Integrity Financial Co. existed in name only, the SEC said today. Its operator, Matthew J. Ryan, 45, of Troy, N.Y., used the bogus company to fleece senior citizens in a Ponzi scheme by telling them they’d earn “guaranteed” return rates of 3.85 percent to 9 percent each year. It was the second Ponzi scheme […]
THE MODERN PONZI: Federal Judge Orders Parties Not To ‘Harass’ Receiver In Mantria/Speed Of Wealth Case; Dozens Of Companies Now Ensnared In Litigation
A federal judge has issued an order that effectively puts a court-appointed receiver in control of dozens of entities related to Mantria Corp. and Speed of Wealth LLC in a search for “recoverable assets.” One of the receiver’s duties is to determine if fraudulent transfers occurred between or among companies, according to the order. The […]
FINRA/SEC Move Against New York Firm; Second Major Case In 24 Hours; Clients Suspect Colossal Ponzi Fraud At McGinn, Smith & Co.
Another investigation into allegations of spectacular financial fraud is under way in New York. The case against McGinn, Smith & Co. of Albany is the second to rock the state in the past 24 hours. The Financial Industry Regulatory Authority (FINRA) filed a complaint against the company and its president David L. Smith yesterday. The […]
FIVE ARRESTED: SEC Says Bogus Stock-Tips Website Faked Testimonial From George Soros; Gryphon Holdings Inc., Kenneth E. Marsh, Others Charged With Operating ‘Sham’
BULLETIN: Five people have been arrested in New York on charges of conspiracy to commit securities fraud and wire fraud. Their preliminary court appearances are occurring now — and the allegations in the case are spectacular. Separately, the SEC has gone to federal court in New York to obtain an emergency court order freezing the […]