Tag: Keith Slotter

California Man, 72, Sentenced To 110 Months For HYIP Rip-Off; Richard M. Hersch Also Ordered To Pay ‘At Least’ $9.2 Million In Restitution

First, Richard M. Hersch, 72, told investors they’d earn up to 6 percent a week by plowing money into his company, All States ATM Inc. He then explained the company had “contracts” with major horse-racing tracks in California and elsewhere to operate Automated Teller Machines (ATMs) on the â€œback sideâ€ of the tracks. Ordinary horse-racing…

Jun 29, 2010
SAN DIEGO COUNTY: Man On Probation For Ponzi Scheme Starts New Scheme, Prosecutors Say; Edmundo Rubi Targets Filipino Community For Second Time

Four California residents have been indicted on charges they targeted the Filipino Community of Greater San Diego in a foreclosure-rescue investment scam prosecutors have dubbed the â€œApocalypse Trustâ€ and â€œAmerisian Trustâ€ scheme. Edmundo Rubi, one of the defendants, was on federal probation for the infamous â€œKnights Expressâ€ Ponzi scheme that fleeced Filipino investors out of…

Jan 12, 2010

California Man, 72, Sentenced To 110 Months For HYIP Rip-Off; Richard M. Hersch Also Ordered To Pay ‘At Least’ $9.2 Million In Restitution