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Tag: Victor S O. Song

9News.com (KUSA/Denver) Reports That Marlyn Hinders, Fugitive In $80 Million Genesis Fund Ponzi Scheme, Has Been Arrested

Marlyn D. “Milt” Hinders, a Colorado fugitive charged six years ago in the $80 million Genesis Fund Forex Ponzi scheme, has been arrested in Houston, 9News.com (KUSA) is reporting. Hinders is 72. He was indicted in May 2005. A federal grand jury that had been impaneled in the Central District of California in 2003 accused…

Jul 9, 2011
Pensacola Fraudsters Sentenced To Federal Prison; Pinnacle Quest International Vendors Sold ‘Tax And Credit Card Debt Elimination Scams,’ Federal Prosecutors, IRS Say

â€œThey helped form a series of sham business entities and then promoted fraudulent debt elimination tactics intended for the sole purpose of concealing income from the IRS.” — Victor S. O. Song, chief, IRS Criminal Investigation As the U.S. Department of Agriculture was conducting a “review” of claims made by affiliates of a purported “grocery”…

Sep 21, 2010
BULLETIN: ‘Genesis Fund’ Operator John S. Lipton Gets 70 Months In Prison; ‘Offshore’ Forex Scheme Presaged Frauds, Lengthy Global Probes To Come

UPDATED 2:18 P.M. EDT (U.S.A.) John S. Lipton, an alleged founding member and principal manager of the Genesis Fund Forex Ponzi scheme, has been sentenced to 70 months in federal prison for conspiracy to defraud the United States and tax evasion. The Genesis Fund scheme traces its roots at least to 1994 and presaged Forex,…

Aug 3, 2010