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Tag: SEC

PROSECUTION BOMBSHELL(S): ASD Had ‘Special’ Class Of Members; Bowdoin’s ‘Silent Partner’ Was His 12DailyPro Sponsor; ‘North Carolina Lawyer’ (And Co-Owner) Of LaFuente Dinero Told Bowdoin U.S.-Based Attorneys Would Be His Business Partners In ‘Offshore’ Surf; Employees Caught ‘Minister’ Stealing From ASD Before He Launched Golden Panda Ad Builder

EDITOR’S NOTE: First of two parts. Part Two will be published later tonight or tomorrow. Even as AdSurfDaily President Andy Bowdoin was venturing to Washington in June 2008 to receive what his members and prospects were told was the “Medal of Distinction” from the President of the United States, he was harboring terrible secrets and…

Jun 11, 2011
OH, UTAH: SEC Alleges Business Executives Used Bogus Press Releases — And Disbarred Attorney — To Sanitize Precious Metals Fraud Scheme

BULLETIN: The SEC has gone to federal court in Utah to seek penalties against a precious metals company and associated firms and individuals, amid spectacular allegations that a PR firm sold the unregistered securities of its own corrupt penny-stock client and a disbarred attorney enabled the scam by issuing a bogus opinion letter. Utah has…

Jun 9, 2011
BULLETIN: Part Of Bo Beckman Fraud Case Devolves Into AdSurfDaily-Like Sideshow; Beckman Filing ‘Bizarre’ Pro Se Claims That Are Hindering Victims From Recovering Assets And Adding Litigation Costs, Receiver Says

BULLETIN: In 2009, federal prosecutors warned that pro se pleadings by members of Florida-based AdSurfDaily had the potential to slow efforts to provide restitution for victims of the ASD Ponzi scheme. Pro se filings by ASD President Andy Bowdoin and dozens of ASD members crowded the court docket for months and delayed the implementation of…

Jun 9, 2011
BULLETIN: Nevin Shapiro, Operator Of $930 Million ‘Grocery’ Ponzi Scheme, Sentenced To 20 Years In Federal Prison; Fraudster ‘Used Other People’s Money To Live A Fantasy Life,’ U.S. Attorney Says

BULLETIN: Nevin Shapiro, the Florida-based operator of a bizarre “grocery” Ponzi scheme that gathered nearly $1 billion and caused losses approaching $100 million, has been sentenced to 20 years in federal prison. Shapiro, 42, was charged by federal prosecutors in New Jersey last year after investigations by the FBI and the IRS. He pleaded guilty…

Jun 8, 2011
BULLETIN: Thanh Viet Jeremy Cao Pleads Guilty In False Liens Case; Ponzi Schemer Admits He Filed 22 Bogus Claims For Hundreds Of Millions Of Dollars Against Public Officials

BULLETIN: Thanh Viet Jeremy Cao, the California Ponzi schemer sentenced last month to 30 years in federal prison and ordered to pay $12.4 million in restitution, has pleaded guilty in a separate fraud case. Federal prosecutors in Nevada alleged last year that Cao filed nearly two dozen bogus liens against SEC attorneys, federal judges, federal…

Jun 7, 2011
KABOOM! Web-Based Ponzi Pitchman For Legisi Hit With Judgments Totaling More Than $2.5 Million; Receiver Hires Law Firm To Collect Against Matthew J. Gagnon; Scheme Was Promoted On TalkGold, MoneyMakerGroup, Among Others

A web-based pitchman for the alleged Legisi Ponzi scheme has been hit with separate court judgments of $1.69 million and $810,000. Meanwhile, the court-appointed receiver in the Legisi case has hired local counsel in Oregon to pursue the judgments against Matthew J. Gagnon and Mazu Publishing Inc. Legisi was alleged by the SEC in 2008…

Jun 7, 2011
URGENT >> BULLETIN >> MOVING: Club Asteria Promoters Blocked By CONSOB, Italian Equivalent Of SEC; Agency Issues Suspension Order; Is ‘Opportunity’ Described As ‘Passive’ Investment Being Targeted At Deaf?

BULLETIN: UPDATED 7:35 P.M. EDT (U.S.A.) The Commissione Nazionale per le Società e la Borsa (CONSOB), the Italian equivalent of the U.S. Securities and Exchange Commission, is conducting a probe into claims made about Club Asteria and has issued a 90-day suspension order that bars promoters from trading in Italy. Club Asteria is based in…

Jun 6, 2011
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…

Jun 6, 2011
BULLETIN: SEC Employee Was Member Of Collapsed Imperia Invest IBC Fraud Scheme That Targeted Deaf Investors And Drained Millions Of Dollars; ‘Headquarters’ Worker Placed On Administrative Leave

BULLETIN: An employee of the SEC at its Washington headquarters was a member of a fraud scheme under investigation by the agency and shared misleading information about its ongoing probe with other investors, according to a report to Congress by SEC Inspector General H. David Kotz. The document does not reveal the employee’s name or…

Jun 1, 2011
ILLINOIS MAN INDICTED: Edward L. Moskop Accused In Alleged Multmillion-Dollar Ripoff Of Elderly Couple, Friends, Relatives — And The Local VFW Post

In a criminal case that flowed from an SEC civil action, an Illinois man has been indicted on mail-fraud and money-laundering charges in a case that alleges he stole from elderly clients and the local Veterans of Foreign Wars Post. Edward L. Moskop, 63, of Belleville, originally was charged in November 2010 by the SEC,…

May 27, 2011
URGENT >> BULLETIN >> MOVING: Former NASDAQ Managing Director Charged Criminally, Sued Civilly In Insider-Trading Case; Donald L. Johnson Pleads Guilty To Criminal Securities Fraud Amid Allegations He Cherry-Picked Information While Serving As Stock-Exchange Gatekeeper

URGENT >> BULLETIN >> MOVING: A former managing director of the NASDAQ stock exchange has been charged by both the SEC and federal prosecutors in an insider-trading case. Donald L. Johnson, 56, of Ashburn, Va., already has pleaded guilty on the criminal side of things, the Justice Department said. For its part, the SEC said…

May 26, 2011