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Tag: Preet Bharara

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
UPDATE: Prosecutor Lauds FBI Terrorism Task Force In Case That Linked Serial HYIP Promoter To Scheme Operated By Man Convicted Of Financing Terrorism

EDITOR’S NOTE: In an earlier post, we briefly touched on Ponzi peddler Brian David Anderson and his tie to an HYIP operated by a man convicted of financing terror. Federal prosecutors now have released a formal statement on Anderson’s guilty plea in a related Ponzi scheme — and the statement thanked the FBI’s Joint Terrorism…

Jan 19, 2010
BLOCKBUSTER ARREST: MLM Pyramid Scheme Operator Charged With Laundering Drug Money; David Murcia Extradited From Colombia To Stand Trial In New York

EDITOR’S NOTE: Finding the United States an unfriendly environment, the so called autosurf and HYIP “industries” increasingly are relying on offshore money-exchange businesses and debit cards to entice participants, advising them that the offshore locations are “safe” havens that “shelter” U.S. residents from regulators and law-enforcement agencies. In August 2009, we reported that a Dallas-based…

Jan 6, 2010
FBI Arrests 14, Including 2 Lawyers, In Major Insider-Trading Probe; SEC Says Attorneys Provided Tips For Kickbacks In Latest Scandal That Rocks Wall Street

As the FBI and IRS executed search warrants at the Florida office of attorney Scott Rothstein this morning amid allegations he ran a covert Ponzi scheme that could have drained as much as $500 million from investors, prosecutors up north were concentrating on arresting lawyers in a separate case involving insider trading on Wall Street.…

Nov 5, 2009
‘Key Enabler’: Madoff Accountant Pleads Guilty; Faces 114 Years; Forfeits More Than $3.1 Million, Real Estate

David G. Friehling was one of Bernard Madoff’s “key enablers,” U.S. Attorney Preet Bharara said today after Friehling pleaded guilty to nine criminal charges. Friehling, 49, Madoff’s small-shop accountant, faces up to 114 years in prison, but has agreed to cooperate with the government, Bharara said. “David Friehling was one of the key enablers of…

Nov 3, 2009