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Tag: Pat kiley

BULLETIN: Tom Petters, Minnesota Ponzi Scheme Figure, Sentenced To 50 Years In Federal Prison

BULLETIN: (UPDATED 12:21 P.M. EDT (U.S.A.) Tom Petters, whom federal prosecutors said presided over a $3.65 billion Ponzi scheme, has been sentenced to 50 years in prison. The fraud was one of the largest in U.S. history — though still significantly smaller than the Bernard Madoff scheme, estimated to have involved $65 billion. Prosecutors had…

Apr 8, 2010
RECEIVER: Cook/Kiley Ponzi ‘Incredible Tragedy’; Some Investors ‘Destitute’; Management So Screwed Up That Historic Van Dusen Mansion Was Not Insured; Assets ‘Sent All Over The World’

EDITOR’S NOTE: As is the case with other Ponzi schemes, the alleged Trevor Cook/Pat Kiley scheme in Minnesota is proving to be an incredible paper chase that is consuming hundreds of hours of manpower as attorneys, investigators and support staff work to reverse-engineer what authorities say was an epic, international fraud. Want to be a…

Apr 7, 2010
BULLETIN: Trevor Cook Charged Criminally With Mail Fraud And Tax Evasion In Alleged $190 Million Ponzi Case In Minnesota

BULLETIN: Trevor Cook, the reputed head of a $190 million Ponzi scheme in Minnesota, has been charged criminally with mail fraud and income-tax evasion. Cook, 37, previously had been charged civilly by the SEC and the CFTC. The criminal charges filed today came after a probe by the FBI and the IRS Criminal Investigations Unit,…

Mar 30, 2010
ALERT: International Con Artists Target Madoff Victims; Regulatory Agencies, Receiver In Cook/Kiley Ponzi Case Go On Guard For Copycats

An individual or group of individuals believed to be operating internationally created a website that mimicked the website of the U.S. Securities Investor Protection Corp. (SIPC) “in an apparent attempt to target [Bernard] Madoff victims” in a fraud scheme, SIPC said. SIPC and the SEC issued warnings immediately, as did the court-appointed receiver in the…

Mar 12, 2010
A PONZI MYSTERY: Trevor Cook’s Faberge Eggs, Iraqi Dinars Missing; Appraiser Braves Elements, Accesses Cook’s Frozen Island Retreat In Canada By Snowmobile

It’s starting to read like Ian Fleming fare, something straight out of James Bond and “Octopussy.” R.J. Zayed, the receiver in the alleged Trevor Cook/Pat Kiley Ponzi scheme in Minnesota, says he did not find Cook’s collection of Faberge eggs when, armed with a court order, he searched Cook’s home in Apple Valley. The precise…

Mar 5, 2010
FBI Makes Ponzi Arrest In California; Peter Jerald Frommer Faces Up To 233 Years Behind Bars If Convicted On All Counts

UPDATED 5:23 P.M. ET (U.S.A.) A California man has been arrested by the FBI and IRS criminal investigators in an alleged Ponzi scheme involving $12 million. Peter Jerald Frommer was taken into custody this morning, after a federal grand jury returned a 17-count indictment yesterday. Frommer, 34, formerly of Malibu, was charged with two counts…

Feb 5, 2010
POSTAL INSPECTORS: Ponzi Scheme Targeted Filipino Community In New York; Razel Canedo Arrested In Atlantic City In ‘Nanny’ Ponzi Scheme

EDITOR’S NOTE: If you’re keeping a “Bubba Blue” notebook on the ways to have a Ponzi scheme as opposed to having shrimp, here’s one you might want to list: an alleged “Nanny” Ponzi scheme. In yet another case that couples Ponzi and affinity fraud, Razel Canedo was charged with targeting Filipino immigrants in Greater New…

Feb 2, 2010
TREVOR COOK AND KINGZ’ MURKY WORLD: Did Accused Ponzi Schemer Cook Send $75 Million To Mysterious ‘Investor’ Known Only As ‘Fased?’ Why AdSurfDaily/AdViewGlobal Cheerleaders Should Pay Attention

UPDATED 5:25 P.M. ET (U.S.A.) KINGZ Capital Management Corp. (KCM) might have been used or contemplated for use as a tool in two far-reaching, incredibly elaborate Ponzi schemes, according to an analysis of public records and other information. One of the schemes ultimately appears to have consumed tens of millions of dollars in a squalid…

Jan 30, 2010
KA-BOOM! Offshore Firm To Which AdViewGlobal Claimed Wire Tie Booted From National Futures Association After Investigators Discover Ponzi Figure Trevor Cook Was Managing Its Investor Pool

UPDATED 1:18 P.M. ET (U.S.A.) A company that denied any ties to the AdViewGlobal autosurf after AVG listed it as a facilitator of offshore wire transfers has been permanently banned by the National Futures Association (NFA) amid allegations that it failed to uphold high ethical standards and failed to supervise its operations. KINGZ Capital Management…

Jan 28, 2010
RECEIVER: Trevor Cook May Be Hiding ‘Millions’ Of Iraqi Dinars, Faberge Eggs; SEC Has ‘Cooperating Witnesses’ In $190 Million Ponzi Case; Cook Wants $105 Monthly Outlay For Housecats

Alleged Minnesota Ponzi schemer Trevor Cook may be hiding “millions” of Iraqi Dinars once stored on the third floor of the Van Dusen mansion in Minneapolis, according to the court-appointed receiver in the case against Cook and former Christian radio host Pat Kiley. Cook also had a “vast” collection of expensive watches and “numerous” jeweled…

Jan 21, 2010
MAGNIFYING GLASS: Local Cops Alerted Receiver In Cook/Kiley Ponzi Case That Credit Card Was Being Used After Asset Freeze

Player in a Ponzi scheme? If alleged Minnesota schemer Trevor Cook’s experience is any indication, you should expect to be placed under a microscope by local merchants and police if you’re named in a complaint by regulators. Cub Foods, a Minnesota-based grocery chain, placed Cook under video surveillance when he entered a local store. A…

Jan 20, 2010