real estate Ponzi schemes
PP Blog Tag archives on references to "real estate Ponzi schemes."
2 South Florida Sisters Charged In Alleged Ponzi Caper Reportedly Married To Foreclosure-Rescue Businesses
South Florida sisters Odalis Freixa and Marisela Gamez are listed as inmates held by the Miami-Dade Corrections and Rehabilitation Department on charges of grand theft, organized scheme to defraud and conspiracy. Freixa is 48, according to jail records. Gamez is 49. Citing Miami-Dade Police documents, NBCMiami is reporting that investigators believe the alleged scam was […]
PONZI NOTES: (1) Kansas Lawyer Allegedly Ran Scheme Out Of Trust Accounts And Scammed Intended Beneficiaries, Including Clients’ Children And Grandchildren And Prominent University, Feds Say; (2) Former Texas Attorney Pleads Guilty In $7.8 Million Caper
Yesterday was another bad day for the legal profession’s noble members: They once again had to bear headlines about fraud schemes allegedly operated by colleagues past and present. In Kansas, attorney Robert M. Telthorst, 52, of Topeka, was charged with wire fraud and money-laundering amid allegations he ran a Ponzi scheme for all or parts […]
Recidivist Huckster, 63, Found Guilty In $30 Million Ponzi Scheme Based In Colorado; Philip R. Lochmiller Sr. Wiped Out Investors After Earlier Serving 3 Years In California Prison For Securities Fraud
UPDATED 8:57 P.M. EDT (U.S.A.) Philip R. Lochmiller Sr., 63, has been found guilty of money-laundering, mail fraud and conspiracy in federal court in Colorado. The jury returned the verdict in three hours, after a 10-day trial, the office of U.S. Attorney John Walsh of the District of Colorado said. Lochmiller spent three years in […]
BULLETIN: Las Vegas Man, 70, Arrested In Alleged Ponzi Scheme Targeting Fellow Senior Citizens; Hans P. Seibt Booked Into Clark County Jail; State Charges Him With 25 Counts Of Securities Fraud, 6 Counts Of Theft
BULLETIN: The Ponzi cavalcade involving senior citizens continues . . . Nevada state authorities have arrested Hans P. Seibt of Las Vegas on Ponzi charges. He specifically was charged under state law with 25 counts of securities fraud and six counts of theft, amid allegations he targeted senior citizens. At 70, Seibt himself is a […]
PROSECUTORS: California Man Hatched Ponzi Scheme And ‘Trust’ Scams — And Ripped Off His Elderly Mother’s Social Security Benefits After She Went Missing
A California man has pleaded guilty to hatching a real-estate Ponzi scheme, transferring a property acquired in the scheme to two “trust” accounts and cherry-picking his 82-year-old mother’s Social Security benefits after she went missing in January 2009. William Warren Baker, 59, of Laguna Nigel, now faces up to 10 years in state prison, prosecutors […]
Long Prison Terms Ordered In California Ponzi Scheme Cases In Which Operators Threatened Or Attempted Suicide; Roberto Heckscher Gets 20 Years; Patricia Morgen Gets Nearly 16 Years
EDITOR’S NOTE: This is a brief on two Ponzi cases in California that led to suicide attempts or threats. Among other things, the case of Roberto Heckscher demonstrates both the danger to life that collapsing Ponzi schemes pose and the fallacy that no Ponzi scheme exists as long as people are getting “paid.” The fallacy […]