Tag: Michael B. Ward
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Nevin Shapiro, Florida Man Who Ran ‘Grocery’ Ponzi Scheme, Pleads Guilty; Feds Say Con Gathered At Least $880 Million While Fraudster Leased Mercedes For $4,700 A Month
When Nevin Shapiro was arrested in New Jersey for running a wholesale grocery scam in Florida, the FBI described the scheme as a “perfect example of greed run amok.†Shapiro, who was charged both criminally and civilly earlier this year after investigators uncovered his long-running Ponzi scheme, now has pleaded guilty to securities fraud and…
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BULLETIN: $200 Million Ponzi And Affinty-Fraud Scheme Alleged By Feds In New Jersey; Eli Weinstein Arrested By FBI
UPDATED 2:40 P.M. EDT (U.S.A) The Newark Star-Ledger and the Asbury Park Press are reporting that New Jersey real-estate developer Eli Weinstein has been arrested by the FBI in a Ponzi and affinity-fraud case that may involve $200 million or more. Both newspapers had photographers on the scene as the arrest was made this morning.…
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NEWS/UPDATES: Feds Say $900 Million Nevin Shapiro Ponzi ‘Perfect Example Of Greed Run Amok’; Colorado Charges Bela Geczy, Michael Kass With Racketeering In Fraud Case
The acts of Nevin Shapiro — a Florida man arrested in New Jersey yesterday on charges of orchestrating a $900 million Ponzi scheme — represent a “perfect example of greed run amok,” an FBI agent said. Separately, a grand jury in Colorado has charged two men under the state’s organized-crime statute with operating an $18…