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Tag: SEC

Former Attorney Sentenced To 99 Years In Prison For Ponzi Scheme; Edward S. Digges Jr. Was Recidivist Offender

A Texas jury has thrown the book at Edward S. Digges Jr., sentencing the Collin County man to 99 years in prison for fleecing 130 investors in a securities-fraud and Ponzi scheme. Digges, 63, formerly was an attorney in Annapolis, Md. He was disbarred in an overbilling scheme, convicted of mail fraud in 1990 and…

Feb 20, 2010
TREVOR COOK AND KINGZ’ MURKY WORLD: Did Accused Ponzi Schemer Cook Send $75 Million To Mysterious ‘Investor’ Known Only As ‘Fased?’ Why AdSurfDaily/AdViewGlobal Cheerleaders Should Pay Attention

UPDATED 5:25 P.M. ET (U.S.A.) KINGZ Capital Management Corp. (KCM) might have been used or contemplated for use as a tool in two far-reaching, incredibly elaborate Ponzi schemes, according to an analysis of public records and other information. One of the schemes ultimately appears to have consumed tens of millions of dollars in a squalid…

Jan 30, 2010
BULLETIN: Trevor Cook Jailed For Contempt In Minnesota Ponzi Scheme Case; Judge Orders Him To Surrender $27 Million, Submarine, Houseboat, More

UPDATED 7:55 P.M. ET (U.S.A.) A federal judge has ordered Trevor Cook jailed for not turning over assets in a Minnesota Ponzi scheme case brought by the SEC. Chief U.S. District Judge Michael J. Davis found Cook in civil contempt of court. U.S. Marshals “escorted Cook from the courtroom to jail,” the SEC said. “Mr.…

Jan 25, 2010
GNI Members: Failed Program Was ‘Honest’ And ‘Real’; Critics Should Shut Up And Focus On Haiti Earthquake

Critics of Gold Nugget Invest (GNI), the collapsed Internet HYIP, do not understand that the program that advertised a return of 7.5 percent a week was “real,” according to a member writing on an online Ponzi board. Bickering about GNI only will lead to additional problems for the company, which is faithfully trying to reorganize,…

Jan 24, 2010
RECEIVER: Trevor Cook May Be Hiding ‘Millions’ Of Iraqi Dinars, Faberge Eggs; SEC Has ‘Cooperating Witnesses’ In $190 Million Ponzi Case; Cook Wants $105 Monthly Outlay For Housecats

Alleged Minnesota Ponzi schemer Trevor Cook may be hiding “millions” of Iraqi Dinars once stored on the third floor of the Van Dusen mansion in Minneapolis, according to the court-appointed receiver in the case against Cook and former Christian radio host Pat Kiley. Cook also had a “vast” collection of expensive watches and “numerous” jeweled…

Jan 21, 2010
CHILLING: Terrorism Link, A Ponzi, An HYIP, Gold, Mysterious ‘Offshore’ Businesses, ‘Rebates’ — And A Brutal Murder In California

EDITOR’S NOTE: HYIP or autosurf promoter? Can’t say no to the commissions from recruiting people into scheme after scheme? Position yourself as an “expert” on Internet forums — even though you don’t have a clue about the motivations of the program owners and may not even know their names? Find yourself promoting programs that reference…

Jan 21, 2010
MAGNIFYING GLASS: Local Cops Alerted Receiver In Cook/Kiley Ponzi Case That Credit Card Was Being Used After Asset Freeze

Player in a Ponzi scheme? If alleged Minnesota schemer Trevor Cook’s experience is any indication, you should expect to be placed under a microscope by local merchants and police if you’re named in a complaint by regulators. Cub Foods, a Minnesota-based grocery chain, placed Cook under video surveillance when he entered a local store. A…

Jan 20, 2010
PARTIAL LIST: Gold Nugget Invest (GNI) Just Latest Failed Scheme Promoted By AdSurfDaily Members; One Program After Another Pushed By Promoters Has Collapsed

EDITOR’S NOTE: This list summarizes several programs pushed by members of AdSurfDaily, a Florida company implicated in an alleged $100 million Ponzi scheme. In some cases, the programs were pushed prior to the seizure by the U.S. Secret Service in August 2008 of 15 bank accounts linked to ASD or Golden Panda Ad Builder, one…

Jan 18, 2010
ASD ALL OVER AGAIN? Gold Nugget Invest (GNI) Collapse Brings Out The Conspiracy Theorists, Apologists; Theorists Claim Interpol Investigating SEC

EDITOR’S NOTE: Conspiracy theories quickly became part of the AdSurfDaily story after federal agents seized tens of millions of dollars from the company in August 2008 amid Ponzi scheme allegations. Yesterday reports surfaced that Gold Nugget Invest (GNI), a High Yield Income Program (HYIP) positioned as a betting arbitrage, had collapsed. GNI reportedly announced that…

Jan 16, 2010
Court Gives Receiver Go-Ahead To Start Selling Property Tied To Alleged Trevor Cook/Pat Kiley Ponzi; Large-Screen TVs, Slot Machines To Be Auctioned

UPDATED 4:06 P.M. ET (U.S.A.) A federal judge in the SEC and CFTC Ponzi scheme cases against Trevor Cook and Pat Kiley has paved the way for the receiver to begin selling property linked to the alleged $190 million scheme. Among the first items up for bid will be 12 large-screen televisions, two slot machines…

Jan 15, 2010
Ballroom Dancer Gets 18 Years In Financial Scheme; Wayne ‘Twinkle Toes’ Puff Case In New Jersey Combined Mortgage And Ponzi Fraud

His case signaled that things were desperately out of control in the U.S. mortgage industry, and Wayne Puff was sentenced yesterday to 18 years in federal prison for swindling investors and banks in a massive mortgage and Ponzi scheme that operated between 1998 and 2005. Although Puff had been disciplined by regulators in New Jersey…

Jan 15, 2010