promissory notes schemes
PP Blog Tag archives on references to "promissory notes schemes."
BULLETIN: Massachusetts Charges Purported Top 20 Shaklee MLM Distributor, Amid Allegations He Drafted Downline Members Into $10.4 Million Ponzi Scheme He Ran Through His Private Companies
BULLETIN: (UPDATED 5:03 P.M. EDT (U.S.A.) The office of Massachusetts Secretary of State William Galvin has alleged that a man who described himself as a Top 20 distributor for Shaklee Corp. — a multilevel marketing firm — drafted members of his 50,000-strong downline into a $10.4 million Ponzi scheme and promissory-notes scam that he was […]
BULLETIN: SEC Says Utah Scammers Funneled Money To 2 Ponzi Schemes; Christopher A. Seeley, Justin G. Dickson Accused Of Conducting Offering Fraud That Raised Millions
BULLETIN: The SEC has gone to federal court to accuse two Utah men of conducting a $7.9 million offering fraud in which money that flowed from investors was used to prop up two Ponzi schemes. Named defendants were Christopher A. Seeley, 36, of Herriman, and Justin G. Dickson, 35, of Salt Lake City. The offering […]
BULLETIN: New Jersey Ponzi Scheme Figure Jenifer Devine Pleads Guilty To Wire Fraud; Case Was Brought By Financial Fraud Enforcement Task Force
A New Jersey woman accused of operating an $8 million Ponzi and investment-fraud scheme has pleaded guilty to wire fraud. Jenifer Devine, 39, of Fair Lawn, was accused in November 2010 of ripping off investors in a purported wholesale business known as Devine Wholesale, which purportedly offered clothing and electronics. But it was a promissory-notes […]
Texas Fraudster, 77, Sentenced To Prison For Scamming Seniors In Securities Swindle; John Langford’s Agency Claimed, ‘We Don’t Promise To Make You Rich, But We Guarantee Not To Make You Poor’
“Irony, thy name is John F. Langford.” — Texas State Securities Board, July 28, 2011 An Amarillo man whose firm fleeced senior citizens by telling them it couldn’t promise to make them rich — but guaranteed it wouldn’t make them poor — has received what might amount to a life sentence behind bars for bringing […]
BULLETIN: SEC Charges ‘Sovereign International Group LLC’ Amid Allegations It Funded Ponzi Payout With Cash Infusion From 93-Year-Old Boyfriend Of Accused Fraudster’s Elderly Mother; Arthur Weiss, Ronald Abernathy Charged In Bizarre Scheme That Allegedly Claimed Ownership Of $50 Million Note From ‘U.S. Financial Agency LLC’
BULLETIN: Two men have been charged by the SEC with fraud in an alleged Ponzi scheme that features allegations that read like fiction — although the agency says they are true. Among the SEC’s spectacular claims is that Ponzi payments to investors were made after the 93-year-old boyfriend of the elderly mother of one of […]
Now, An Alleged ‘Sham Cemetery’ And $90 Million ‘Promissory Note’ Scam; Feds Say Men ‘Concocted’ Millions Of Dollars In ‘Fake Partnership Losses’ In Bizarre Tax Scheme Hatched Through ‘Shell Companies’
If the “redemption” scams in which delusional hucksters tell enraptured prospects that the government maintains secret accounts Americans can tap to qualify for multimillion-dollar tax refunds and pay for everything from cars to speeding tickets haven’t caused your brain to shut down from suspending too much disbelief, you now may have another opportunity to fry […]
PROMISSORY NOTES SCAM: Feds Bust Another Alleged ‘Wholesale’ Business; Jenifer Devine Faces Wire Fraud Charge In Ponzi Case Brought By Obama Task Force; ‘Wholesale Business Was Wholesale Fraud,’ U.S. Attorney Says
The FBI has arrested Jenifer Devine, saying the Fair Lawn, N.J., woman was operating a promissory notes Ponzi scheme through a purported wholesale business that claimed to sell clothing and electronics. Similar charges were brought earlier this year in New Jersey against Nevin Shapiro. Prosecutors said Shapiro, who has pleaded guilty, was running an $880 […]
Fugitives Charged In Michigan Ponzi Scheme Captured By U.S. Marshals, Police In Tennessee; Rita Gosselin And Husband Had Been On The Lam Since April
In December 2009, Rita Gosselin was indicted for racketeering in Michigan. Michigan Attorney General Mike Cox said she was at the helm of a real-estate Ponzi scheme involving promissory notes. In April 2010, Gosselin, 58, was alleged to have cut a monitoring device and fled the the state with her husband, Richard Gosselin, 62. The […]
MORE BAD NEWS FOR PONZI PURVEYORS: Upstart Ponzi Operator Sued By SEC After Assists From FINRA, Texas State Securities Board, Agency Says; Gregory Todd Froning Confronts Civil, Administrative Actions
EDITOR’S NOTE: Online HYIP and autosurf purveyors and their fellow “mini-Madoffs” may find the brick-and-mortar case of Gregory Todd Froning at once unsettling and instructive. In yet-another development apt to create unease in the HYIP and autosurf Ponzi worlds, a new court action by the SEC demonstrates that even “small” operators in the universe of […]
Richard Elkinson Ordered To Pay $29 Million In Ponzi Case; 77-Year-Schemer Still Jailed After Arrest At Mississippi Casino In January
A 77-year-old man who fleeced clients by telling them he brokered contracts for a Japanese company that provided uniforms for the Winter Olympics, the Pan American games and the government has been ordered to pay $29 million in a civil case brought by the SEC. Richard Elkinson is jailed in Massachusetts after being arrested at […]