Tag: Massachusetts Ponzi schemes
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New Count Of Loan-Sharking Filed Against Accused Ponzi Schemer
Already facing criminal Ponzi and loan-sharking charges in Massachusetts and a disgorgement order of at least $3.1 million in an SEC civil case brought him in April 2013, Steven Palladino faces a new hurdle: He has been arrested again for loan-sharking. That arrest came yesterday, according to the office of Suffolk County (Mass.) District Attorney…
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MASS. ATTORNEY GENERAL: Former Middlesex County Banker Was Ponzi Schemer Who Scammed For 12 Years And Created Bogus CD Receipts And 1099s
A Massachusetts woman formerly employed at Bank of America ran a Ponzi scheme on the side, forged withdrawal slips and stole millions of dollars from family and friends over a period of 12 years, the state’s attorney general said. Elaina Patterson, 53, of Wilmington, has been indicted on charges of Larceny over $250 from a…
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BULLETIN: Massachusetts Charges Purported Top 20 Shaklee MLM Distributor, Amid Allegations He Drafted Downline Members Into $10.4 Million Ponzi Scheme He Ran Through His Private Companies
BULLETIN: (UPDATED 5:03 P.M. EDT (U.S.A.) The office of Massachusetts Secretary of State William Galvin has alleged that a man who described himself as a Top 20 distributor for Shaklee Corp. — a multilevel marketing firm — drafted members of his 50,000-strong downline into a $10.4 million Ponzi scheme and promissory-notes scam that he was…
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‘Uniform’ Ponzi Swindler Richard Elkinson, 78, Sentenced To 102 Months In Federal Prison; 20-Year Scheme Collapsed After Arrest Of Bernard Madoff
Richard Elkinson, the 78-year-old Ponzi swindler whose promissory notes scheme gathered $29 million over 20 years, has been sentenced to 102 months in federal prison. Elkinson resided in Framingham, Mass., and told investors he was in the business of providing uniforms to the government and other entities. But it was all a scam that lured…