SENIOR FRAUD CAVALCADE CONTINUES: Ponzi Schemer, 86, Pleads Guilty; Stephen J. Klos Ripped Off Fellow Senior Citizens, Prosecutors Say
Stephen J. Klos, an 86-year-old church usher who sold elderly congregants in the Seattle area into a $3 million Ponzi scheme that began in 2004, has pleaded guilty to 10 counts of securities fraud, the office of King County Prosecuting Attorney Daniel T. Satterberg said. Klos “met several of victims at his church and told […]
FEDS: Former California National Guard Base Commander Timothy Melvin Murphy Pleads Guilty To Bilking $2.7 Million In Ponzi And Fraud Caper
The onetime commander of the California National Guard base in Los Alamitos has pleaded guilty to mail fraud in a Ponzi scheme that defrauded 28 investors of $2.7 million, federal prosecutors said. Ret. Col. Timothy Melvin Murphy, 70, of Orange, ran his investment scam through an entity known as Capital Investors Inc., also of Orange, […]
BULLETIN: Rhode Island Man, 81, Ran ‘Self-Contained’ Ponzi Scheme For 10 Years; Martin B. Feibish Pleads Guilty To Defrauding $5 Million From Florida Resident
BULLETIN: An 81-year-old Rhode Island man ran a “self-contained” Ponzi scheme between 2001 and 2011 and defrauded a Florida investor out of $5 million, federal prosecutors said. Martin B. Feibish of Providence now joins a list of senior-citizen Ponzi swindlers. He pleased guilty today to one count of mail fraud and one count of filing […]