Tag: Ohio Ponzi schemes
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First Reports Of Alleged Massive Ponzi Scheme In Greater Cincinnati: ‘Tens If Not Hundreds Of Millions Of Dollars,’ Complaint In Hamilton County Says
If the alleged Profitable Sunrise scheme were not bad enough in the Greater Toledo region of Northwest Ohio, there now are reports of a separate massive scheme in the Greater Cincinnati region of Southwest Ohio. Investors have gone to court to accuse Glen Galemmo of East Walnut Hills of operating an elaborate scam that may…
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BULLETIN: Securities Fraudster/Ponzi Schemer Sentenced To 40 Years
BULLETIN: Jasen M. Snelling — who last month was sentenced to nearly 11 years in prison in a federal Ponzi-scheme case brought in Ohio — now has been sentenced in Indiana state court to 40 years. The state case was brought after an investigation by the office of Indiana Secretary of State Connie Lawson. Snelling…
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Affinity-Fraud Victim, 72, Tells Newspaper He ‘Won’t Trust Anybody’ For The Rest Of His Life; Ohio Real-Estate Ponzi Scheme That Spread By Word-Of-Mouth Was Discovered After Suicide Of Church ‘Praise Band’ Member
UPDATED 9:47 A.M. EDT (U.S.A.) A 72-year-old man and his 60-year-old wife built up a $400,000 retirement nest egg through hard work over decades at a cosmetics factory — only to see it consumed in a real-estate Ponzi scheme operated by two church members, including one who killed himself when the scheme was unraveling, the…