Tag: Minnesota Ponzi schemes
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BULLETIN: Pat Kiley, Trevor Cook Ponzi Pitchman, Sentenced To 20 Years in Federal Prison
BULLETIN: Patrick Kiley, a radio host and conspiracy theorist who warned of “massive, massive chaos” and became a pitchman for the $194 million Trevor Cook Forex Ponzi scheme in Minnesota, has been sentenced to 20 years in federal prison. Kiley, 75, now becomes the fifth person sentenced to a long prison term in the epic…
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RECOMMENDED VIEWING: ‘American Greed’ To Air Story On Trevor Cook Ponzi Scheme Tonight
“Talk Radio Takedown” from CNBC’s “American Greed” program is expected to air at 10 p.m. EDT today, after a National Hockey League playoff game concludes. Visit the CNBC site. Watch the teaser (part of which features the taped voice of one of Cook’s radio pitchmen and chief bloviators) . . . The Cook/Kiley Forex fraud…
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Prosecution Asks Court To Impose Life Sentence On Jason Bo-Alan Beckman, Pitchman For Trevor Cook Ponzi Scheme; Beckman Says He Should Serve 364 Days And Then Become A Professional Speaker
“The nature and circumstances of this offense and Mr. Beckman’s history and characteristics, viewed together, cry out for a life sentence. With respect to Mr. Beckman, nothing less than a liberty-ending sentence would reflect the seriousness of this offense, promote respect for the law and provide just punishment. But perhaps most importantly, Mr. Beckman must…
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RECOMMENDED READING: [BULLETINS]: 3 Trevor Cook Ponzi Scheme Pitchmen Found Guilty
The Star Tribune and the Pioneer Press are reporting that Trevor Cook Ponzi scheme pitchmen Jason Bo-Alan Beckman, Pat Kiley and Gerald Durand have been found guilty in federal court in Minnesota. Read breaking coverage at the Star Tribune. Read breaking coverage at the Pioneer Press. The PP Blog will have more on the verdicts…
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UPDATE: Criminal Prosecutors Say Jason Bo-Alan Beckman Stole Nearly $4 Million From Elderly Husband And Wife; Wife A Stroke Victim With ‘Hemispheric Paralysis,’ According To Court Records; Beckman’s Manipulations Amount To ‘Contumacious Disobedience,’ SEC Says
UPDATE: Facing a margin deficit of more than $10 million and at risk of having his trading account closed in February 2008, Jason Bo-Alan Beckman — a figure in the Trevor Cook Ponzi scheme — sought to address the whopping shortfall and prop up the monumental fraud by stealing about $3.9 million from an elderly…
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BULLETIN: R.J. Zayed, Court-Appointed Receiver In Trevor Cook Ponzi, Recovers More Than $1.1 Million In Switzerland
BULLETIN: The court-appointed receiver in the Trevor Cook Ponzi scheme has recovered more than $1.1 million that had been tied up in Switzerland. Receiver R.J. Zayed says that $1,127,495 has been deposited in a U.S. Court account. “[T]he Receiver has now accomplished the goal of repatriating the Swiss funds so that money can be returned…
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UPDATE: Renee Marie Brown, Sued By SEC Last Year In Mysterious ‘Fund X’ Scam, Now Faces Criminal Charges Of Securities Fraud, Wire Fraud And Money Laundering
Renee Marie Brown, the Minnesota woman accused by the SEC last year of orchestrating a bizarre fraud known as “Fund X,” has been indicted on criminal charges of securities fraud, wire fraud and money laundering. Brown, 47, of Golden Valley, presided over a company known as Investors Income Fund X LLC, which the SEC described…
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Florida Ponzi Property Of Accused Minnesota Fraudster Bo Beckman Will Drain Cash, Receiver Says; Home With 5 Bathrooms Is ‘Under Water’ And Should Be Beckman’s Problem To Solve
Accused Minnesota fraudster Jason Bo-Alan Beckman’s 5,097-sq.-ft.-home with five bedrooms, five bathrooms and a roomy garage of nearly 1,100 sq. ft. in Palm City, Fla., is seriously “under water” on its mortgage and thus creates a drain on assets that are best used to compensate victims, the court-appointed receiver has advised a federal judge. Receiver…
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BULLETIN: SEC Charges Jason Bo-Alan Beckman In Trevor Cook Ponzi Scheme; Judge Freezes Assets; Agency Says Investors’ Cash Used To Make Child-Support Payments And Puchase ‘Luxury Homes’ And Cars
BULLETIN: Jason Bo-Alan “Bo” Beckman has been charged civilly by the SEC in the Trevor Cook Ponzi scheme in Minnesota and named a “leading” figure, according to court filings. The case against Beckman was brought as an action separate from the civil action against Cook, who also was charged criminally and is in federal prison…
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BULLETIN: Now, An Investment-Fraud Scheme Targeted At Indian-Americans And Members Of The Hindu Faith; SEC Says Amit V. Patel Of Minnesota Poses ‘Danger To The Investing Public’
BULLETIN: The SEC has obtained an asset freeze against a Minnesota man in an alleged investment- and affinity-fraud scheme targeted at Indian-Americans and followers of the Hindu faith. Amit V. Patel of Shoreview raised “at least $2.5 million from at least five individuals that he met in the Indian-American community and Hindu temples in Minnesota,”…