Tagged with "Ponzi Scheme"

SEC Obtains Emergency Asset Freeze Against Actor Operating a $690 Million Ponzi Scheme

Posted on April 19th, 2021 at 9:44 AM
SEC Obtains Emergency Asset Freeze Against Actor Operating a $690 Million Ponzi Scheme

The Securities and Exchange Commission (SEC)  has obtained an asset freeze and other emergency relief in an emergency enforcement action against actor Zachary Horwitz and his company "1inMM Capital, LLC (one in a million). 

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SEC Files Suit Against DeAndre Sears for Role in EquiAlt Ponzi Scheme

Posted on January 7th, 2021 at 3:29 PM
SEC Files Suit Against DeAndre Sears for Role in EquiAlt Ponzi Scheme

The U.S. Securities and Exchange Commission (“SEC”) has filed a lawsuit against DeAndre P. Sears and his company MASears LLC, also known as Picasso Group

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Former LPL Financial Advisor Sentenced for Running Ponzi Scheme

Posted on November 27th, 2020 at 3:05 PM

James Thomas Booth, a former advisor, has been sentenced to 42 months in prison for running a Ponzi scheme, ThinkAdvisor reported.

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Financial Advisor Charged with Murder

Posted on November 23rd, 2020 at 9:23 AM
Financial Advisor Charged with Murder

Keith T. Ashley, a financial advisor who was already under an FBI investigation for an alleged Ponzi scheme, has been charged with murder.

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Underwater Sea Scooter No Help to Ponzi Scheme Perpetrator

Posted on November 17th, 2020 at 3:51 PM
Underwater Sea Scooter No Help to Ponzi Scheme Perpetrator

Matthew Piercey has been arrested by the FBI for his role in an alleged Ponzi scheme. Piercey, along with his business partner, Kenneth Winton, were indicted last week by a grand jury.

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Texas Man Pleads Guilty to Running Ponzi Scheme

Posted on November 4th, 2020 at 4:13 PM

Patrick O. Howard has pled guilty to running a $13 million “Ponzi-type scheme” in a federal court in Texas.

 

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SEC Files Suit against Estate of Man Found Dead for Alleged Role in Ponzi Scheme

Posted on September 22nd, 2020 at 2:12 PM
SEC Files Suit against Estate of Man Found Dead for Alleged Role in Ponzi Scheme

The U.S. Securities and Exchange Commission (“SEC”) filed a Complaint against Cygnus Capital Management and the estate of Richard Ventrilla, the firm’s former president and owner.

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Former Non-Profit Operator Pleads Guilty to Conspiracy to Commit Wire Fraud

Posted on August 6th, 2020 at 9:25 AM
Former Non-Profit Operator Pleads Guilty to Conspiracy to Commit Wire Fraud

Anthony Wayne March, former operator of the non-profit organization Asset Trader in Rolesville, North Carolina, has plead guilty to a federal charge of conspiracy to commit wire fraud. The charge stems from an alleged $8.1 million Ponzi scheme.  

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David Hu Arrested and Charged with Running a Ponzi Scheme

Posted on July 20th, 2020 at 3:16 PM

Co-founder and managing partner of International Investment Group, David Hu, was arrested and charged with running Ponzi scheme of more than $100 million. Federal authorities accused Hu of overvaluing loans and covering up the scheme with falsified documents and fake entities. According to federal authorities, the scheme has gone on for more than 10 years.  

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Two Sarasota-Bradenton Area Men Charged for Alleged Ponzi Scheme

Posted on June 30th, 2020 at 4:11 PM
Two Sarasota-Bradenton Area Men Charged for Alleged Ponzi Scheme

In connection with an alleged $6.3 million Ponzi scheme, Phillip Roy Wasserman and Kenneth Murry Rossman (collectively, “Defendants”) have been charged by federal prosecutors with mail fraud, wire fraud, and conspiracy to commit wire and mail fraud.  Defendants are alleged to have targeted elderly individuals and convinced those individuals to liquidate traditional investments in order to invest in “FastLife,” an insurance venture by Wasserman. Wasserman and Rossman are alleged to have made fraudulent misrepresentations and to have concealed material information when soliciting investments in FastLife.  

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