Tag: Ponzi
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BULLETIN: Another Spectacular Florida Ponzi Case Emerging; Nevin K. Shapiro Charged Criminally, Civilly In Alleged $900 Million Fraud
BULLETIN: Nevin K. Shapiro, the founder and president of Capitol Investments USA Inc., surrendered to authorities this morning after being charged both criminally and civilly in an alleged $900 million Ponzi and fraud scheme in south Florida and elsewhere, the SEC said. Shapiro, 41, is a prominent Miami Beach businessman and philanthropist in the wholesale…
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California Man Who Tried To Flee Country While His Ponzi Was Disintegrating Sentenced To Prison; John Anthony Miller Was Targeted In FBI/State Department Sting
A California man who tried to adopt the identity of a deceased classmate from his school days to flee the United States while his Ponzi scheme was unraveling has been sentenced to 159 months in federal prison. The FBI and the State Department already were aware that John Anthony Miller’s scheme was falling apart when…
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Shawn Merriman Pleads Guilty In Colorado Ponzi Case; Faces 20 Years In Prison For Swindling Investors And Using Money To Buy Rembrandt Paintings And Go On Safari
Shawn R. Merriman has pleaded guilty to mail fraud in a Ponzi scheme case that swindled dozens of investors in Colorado, Minnesota and Utah. The scheme involved more than $20 million, prosecutors said. Merriman, 46, of Aurora, Colo., faces up to 20 years in prison and a fine of up to $250,000. The SEC said…
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Scott Rothstein Ponzi/Fraud Probe May Involve $1 Billion
The probe into the business affairs of Fort Lauderdale attorney Scott Rothstein may involve more than $1 billion directed to a Ponzi and fraud scheme, the FBI said today. Earlier estimates had placed the total at up to $500 million, and the FBI has made a public appeal for potential victims to provide information. Separately,…