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Tag: SEC

BULLETIN: SEC Says California Man Was Running THREE Ponzi Schemes — One Of Them Allegedly Duped Investors Into Believing They Were Funding FedEx Distribution Facility In Las Vegas

BULLETIN: The SEC has gone to federal court in the Southern District of California, alleging that Steven L. Hamilton of Carlsbad was running three Ponzi schemes through three companies he set up “to solicit unsuspecting investors.” Hamilton is 42, the SEC said. One of the offers allegedly duped people into believing they were investing in…

Feb 22, 2012
BIRTH OF A ‘SOVEREIGN’ VERB: Appeals Court Upholds Convictions In ‘False-Liens’ Case In Which Defendant Called Law ‘A[**] Wipe’ And Declared He’d ‘Lien . . . Down’ Even On Court-Appointed Defense Counsel; Co-Defendant Was Figure In SEC’s Gold Quest International Ponzi Case And Sought To File Bizarre Lawsuit Against Agency

“I don’t want to see a lawyer. If you do, I’m going to lien him down fast.” — Gregory Allen Davis addressing U.S. Magistrate Judge Alice R. Senechal of North Dakota in a false-liens case that evolved from events in 2010 and earlier UPDATED 5:14 P.M. ET (U.S.A.) The word “lien” is a noun. But…

Feb 20, 2012
DISTURBING: JSS Tripler-Related Domain Listed In CONSOB Action Is Based In United States — But Suddenly Starts Redirecting To ‘JustBeenPaid’ Site In The Netherlands; Claim That ‘We’re Not Located In Any Unfriendly Political Jurisdictions’ Exposed As Rank Deception

On Jan. 23, CONSOB, the Italian securities regulator, made public an action against promoters of JSS Tripler, a “program” that advertises an annualized return of 730 percent. The claim alone would be enough to make Bernard Madoff or Charles Ponzi himself blush. Or projectile-vomit. But if the CONSOB action were not trouble enough, one of…

Feb 4, 2012
In Wake Of CONSOB Action, Affiliate ‘Press Release’ Calls JSS Tripler Members ‘Investors’ EIGHT Times And Suggests U.S. Government Approves Purported ‘Program’ That Advertises Return Rate That Dwarfs Madoff

You can’t make this stuff up . . . A week after CONSOB, the Italian securities regulator, announced it was opening a probe into the activities of JSS Tripler promoters amid claims the absurd “program” advertised returns that would make Bernard Madoff blush, a new “press release” ignores the CONSOB development, calls participants “investors” (eight…

Jan 30, 2012
UPDATE: JSS Tripler Promoters On Ponzi Boards Scoff At CONSOB Action, React By Making ‘I Got Paid’ Posts; Like AdSurfDaily, Purported ‘Opportunity’ Calls Payouts ‘Rebates’ And Employs Confluence Of Payment Schemes

“I dont care what the CONSOB or whatever says because I am not an Italian.” — TalkGold poster known as “WallStreetIsAPonzi,” Jan. 28, 2012 Even as CONSOB, the Italian securities regulator, is publishing an announcement on its website that promoters of a bizarre HYIP known as JSS Tripler are under investigation amid preposterous claims that…

Jan 29, 2012
ALERT! On Heels Of SEC’s Complaint Against Alleged Latvian Hacker Accused Of Manipulating Stock Prices By Hijacking Brokerage Accounts, FINRA Warns Of Plots Targeting Email Accounts

“Investors who suspect that their email account has been hacked should immediately notify their brokerage firm and other financial institutions, and anyone who suspects they have been defrauded should file a complaint with FINRA.” — Gerri Walsh, vice president for Investor Education, Financial Industry Regulatory Authority, Jan. 26, 2012 The Financial Industry Regulatory Authority (FINRA)…

Jan 27, 2012
URGENT >> BULLETIN >> MOVING: SEC Says Latvian Trader Hatched ‘Online Account Intrusion Scheme’ And Manipulated Prices Of More Than 100 NYSE And Nasdaq Securities

URGENT >> BULLETIN >> MOVING: In a case that raises grave security concerns, the SEC has gone to federal court in San Francisco, alleging that a 34-year-old Latvian trader who held positions in multiple stocks “hijacked” the online accounts of customers at large broker-dealers and made trades in the accounts to manipulate prices and pocket…

Jan 26, 2012
BULLETIN: SEC Says St. Louis Man Went On ‘Spending Spree’ With Investors’ Money, Fleecing Them Of More Than $9 Million; Burton Douglas Morriss Charged With Fraud

BULLETIN: The SEC has gone to federal court in Missouri and obtained an emergency asset freeze in a case that alleges a St. Louis man who operated private investment funds misappropriated more than $9 million from investors. Charged in the civil case is Burton Douglas Morriss, 49, and four companies: MIC VII LLC, Acartha Technology…

Jan 18, 2012
BULLETIN: Verdict Goes Against TD Bank In Case Linked To Scott Rothstein Ponzi; Jury Awards $67 Million; Victorious Attorney For Investors Also Is Court-Appointed Receiver In Fraud Case With AdSurfDaily Tie

BULLETIN: A Florida jury found that TD Bank assisted now-disbarred and imprisoned attorney Scott Rothstein in his epic Ponzi scheme and has found the bank liable for $67 million in damages. Read a story in the Sun Sentinel about the federal-court verdict that went against TD Bank. The victorious attorney in the civil case is…

Jan 18, 2012
SEC Names 3 Defendants In Alleged $16 Million Credit-Card ‘Merchant Portfolio’ Ponzi Scheme Targeted At Mormons; Records Show Schemes Within Schemes Dating Back Years

EDITOR’S NOTE: If you’re keeping a Bubba Blue notebook on how to have a Ponzi scheme as opposed to shrimp, here is an entry: an alleged “merchant portfolio” Ponzi scheme. Ponzi and fraud schemes often use impressive-sounding terminology to separate people from their money. Schemes typically mushroom to consume millions of dollars when investors —…

Jan 5, 2012
BULLETIN: Steven Salutric, Illinois Man Accused By SEC Last Year Of Stealing From 96-Year-Old Nursing Home Patient With Dementia, Now Charged Criminally

BULLETIN: Federal prosecutors in the Northern District of Illinois have charged Steven W. Salutric with wire fraud, the office of U.S. Attorney Patrick J. Fitzgerald said. Salutric, 53, of Carol Stream, initially was charged civilly by the SEC in January 2010, amid shocking allegations that, to keep his Ponzi and fraud scheme afloat, he stole…

Dec 29, 2011