Tag: senior citizen and ponzi schemes
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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…
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Senior Who Swindled Seniors In $18 Million Ponzi Scheme Sentenced To 108 Months In Federal Prison; Case Sends Message To ‘Con Artists,’ Top Federal Prosecutor Says
Louis J. Borstelmann, a California senior citizen who swindled “elderly and retired” investors in Oregon and elsewhere in an $18 million Ponzi scheme, has been sentenced in Oregon to 108 months in federal prison, prosecutors said. Borstelmann is 69. Most of his victims resided in the area of Florence, Ore., although others hailed from Hawaii,…
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Man, 79, Becomes Fugitive In Ponzi Scheme Case; Gerald J. Berke Wanted By FBI In Alleged $81 Million Caper
It is not unusual for senior citizens to operate Ponzi schemes — and here is another alleged example. Gerald J. “Jerry” Berke, 79, is wanted by the FBI for an alleged Ponzi caper in the Los Angeles area that fleeced about 500 investors out of more than $81 million, the agency said. Berke will turn…