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Tag: prime bank schemes

‘Minister Of The Gospel’ Accused Of Offering Undercover Agent Discount To Join ‘Secret’ HYIP Program Found Guilty Of Wire Fraud And Conspiracy

EDITOR’S NOTE: It doesn’t come any crazier than HYIP prime-bank schemes. This is another example . . . UPDATED 7:47 P.M. ET (U.S.A.) Moses Onciu, a self-styled “Minister of the Gospel” and director of David and Goliath International Ministries Inc. of Fountain Hills, Ariz., has been found guilty in federal court in California of HYIP-related…

Nov 5, 2013
California Scammers Who Wiped Out Investors In 4,000 Percent ‘International Bank Trades’ Swindle Get Extra Prison Time For Filing False Liens Against Federal Prosecutor, FBI Agents

Ronald Wesley Groves and Donald Charles Mann swindled $4.8 million from 642 investors in a bizarre “international bank trades” caper that promised a payout of 4,000 percent. Now, they’ve been sentenced to an extra year in federal prison for filing false liens against a federal prosecutor and two FBI agents involved in the fraud probe,…

Mar 19, 2013
BULLETIN: SEC: Purported ‘Trust’ Was $15 Million Prime-Bank Ponzi Swindle Operated By Two 70-Year-Olds; 1 Of The Accused Hucksters Has Prior Conviction For Trafficking Cocaine; Investors Were Told ‘Department Of Homeland Security’ Was A Customer And That The Devil Was Behind The Adage, ‘If It Sounds Too Good To Be True . . .”

EDITOR’S NOTE: They don’t come any weirder than prime-bank swindles — and this one is one of the strangest we’ve ever reported on. UPDATED 8:19 A.M. ET (NOV. 20, U.S.A.) Two individuals — both now 70 — conducted a prime-bank Ponzi swindle known as “the Trust” since at least 2004, the SEC said late this…

Nov 19, 2012
URGENT >> BULLETIN >> MOVING: SEC Says D.C. Attorney Brynee K. Baylor Was Running Prime-Bank Swindle With Frank L. Pavlico III, A Felon On Probation In Case Involving ‘Drug Trafficking’ Proceeds

UPDATED 10:04 A.M. ET (DEC. 8, U.S.A.) Frank L. Pavlico III — convicted in 2007 of felony conspiracy to conduct financial transactions involving the proceeds of drug trafficking and released in 2008 after serving his 10-month prison term — has been arrested for wire fraud by the FBI in an alleged prime-bank swindle that occurred while…

Dec 6, 2011
Jury Convicts Florida Woman Who Ran Bizarre Ponzi And Fraud Scheme With Husband; Marian I. Morgan Guilty On All 22 Counts, Including Wire Fraud And Money-Laundering

A 57-year-old Florida woman who ducked out of the United States with her husband after becoming implicated in a $28 million HYIP/prime-bank swindle has been found guilty of wire fraud, money-laundering, conspiracy, interstate/foreign transportation of stolen funds and tax crimes, U.S. Attorney Robert E. O’Neill of the Middle District of Florida announced. The investigation into the…

Sep 30, 2011
After Weeks Of Prelaunch Hype And A Month Of Formal Fundraising, Andy Bowdoin Says He Is $480,700 Short Of $500,000 Goal; AdSurfDaily Patriarch And Accused Felon Says In Email That He Has Collected Only $19,300 To Pay For Criminal Defense In $110 Million Ponzi Case

He once had command of legions — and AdSurfDaily members lined by the hundreds and waited in line for hours to pay Andy Bowdoin to give them a chance to “build wealth.” At its peak in the summer of 2008, ASD reportedly was posting tens of millions of dollars a week in revenue. But that…

Aug 25, 2011
URGENT >> BULLETIN >> MOVING: Andy Bowdoin, AdSurfDaily Lose Appeal Of $65.8 Million Forfeiture Order; Panel Unanimously Upholds District Judge

BULLETIN: Andy Bowdoin and AdSurfDaily Inc. have lost their appeal of a January 2010 order by U.S. District Judge Rosemary Collyer that $65.8 million be forfeited to the government in the August 2008 civil Ponzi scheme case against Bowdoin’s assets. The U.S. Appeals Court for the District of Columbia unanimously upheld Collyer, rejecting Bowdoin’s claims…

Mar 28, 2011
SEC: Recidivist Huckster Made Bedside Visit To Dying Man, Promised Him ‘Investment’ Would Take Care Of His Wife For ‘Life’; Couple’s Money Plundered In Apparent HYIP/Prime-Bank Hybrid Scheme With Link To Another Swindle

EDITOR’S NOTE: Make no mistake: America is at risk from an epidemic of white-collar crime. American money is at risk, American prestige is at risk, and national security is at risk — as Americans hatch one fraud scheme after another and recruit other Americans (and citizens of other countries) to help the schemes mushroom. Some…

Mar 10, 2011
AN HYIP PARANOIA-MAKER: Undercover Agent Listens To Alleged Bankrupt Fraudster’s Pitch In ‘Hooters’; SEC Files Emergency Action Alleging Christopher Love Blackwell At Helm Of Massive Fraud Scheme

EDITOR’S NOTE: This developing story on the alleged actions of accused securities schemer Christopher Love Blackwell is apt to cause paranoia among HYIP and prime-bank fraudsters, including criminals who populate online forums such as TalkGold and MoneyMakerGroup. It features the presence of a Department of Homeland Security (DHS) undercover operative who allegedly infiltrated Blackwell’s scheme…

Feb 10, 2011
OFFICIALS: Ponzi Schemes, Investment Fraud Have Led To Staggering Losses In Utah; Hundreds Of Potential Perpetrators Identified

UPDATED 8:38 P.M. EDT (U.S.A.) Recent Ponzi schemes and cases of investment fraud have cost Utah residents an estimated $1.4 billion, the FBI said today. About 370 investigative “subjects” — defined as “potential perpetrators” in current cases — have been identified, and the agency and its law-enforcement partners have embarked on a public awareness and…

Jun 13, 2010