Tagged with "Ponzi Scheme"

SEC Files a Lawsuit Against Essex Capital Corporation for Orchestrating a Ponzi-Scheme

Posted on June 15th, 2018 at 9:07 AM

The SEC has filed a complaint against Santa Barbara, California-based Essex Capital Corporation and its president, Ralph T. Iannelli for allegedly running an $80 million Ponzi-scheme. 

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Former Pennsylvania Advisor Sentenced to Prison for Running a $1.2 million Ponzi Scheme

Posted on November 3rd, 2017 at 3:26 PM

Former Edward Jones financial advisor, Bernard Parker was sentenced to 87 months in federal prison for running a six-year $1.2 million Ponzi scheme. 

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New Jersey Adviser Accused of Running a Ponzi Scheme to Fund Gambling Habit

Posted on September 25th, 2017 at 3:39 PM

The SEC has filed a lawsuit against adviser Scott Newsholme of Farmingdale, New Jersey for allegedly defrauding elderly clients in a $1 million Ponzi-like scheme.

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Minnesota Man Charged With Operating Million Dollar Ponzi Scheme Through Options Trading

Posted on September 15th, 2017 at 9:48 AM
Minnesota Man Charged With Operating Million Dollar Ponzi Scheme Through Options Trading

The United States Attorney’s Office has filed federal criminal charges against Big Island Capital founder, Jeremey Richard Lundin for operating a Ponzi scheme in which he stole more than $1 million from individual investors.

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North Dakota Securities Department Reaches Settlement with Ponzi Scheme Operator

Posted on August 10th, 2017 at 9:19 AM

The North Dakota Securities Department has settled an investigation against Minneapolis-based Questar Capital Corporation broker, Kevin Wanner.

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Hedge Fund Manager Sentenced for Orchestrating a Ponzi Scheme

Posted on August 7th, 2017 at 9:57 AM
Hedge Fund Manager Sentenced for Orchestrating a Ponzi Scheme

Hedge fund manager, Stephen S. Eubanks was sentenced in federal court to 30 months in prison, three years of supervised release, and ordered to pay $437,609 in restitution to his victims for allegedly defrauding over 20 investors.

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Former Texas Registered Rep Arrested for Internet Ponzi Scheme

Posted on February 8th, 2017 at 9:31 AM
Former Texas Registered Rep Arrested for Internet Ponzi Scheme

Former registered rep Bobby Eugene Guess was arrested following his indictment on charges of securities fraud, theft, money laundering and engaging in organized criminal activity related to the multi-million-dollar sale of investments in an internet advertising company.

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Ponzi Scheme Operator Charged with Fraud

Posted on November 23rd, 2016 at 9:33 AM
Ponzi Scheme Operator Charged with Fraud

Carlos Maldonado, owner of Business Planning Resources International Corporation (BPRIC), and associated under the incorporation documents with Pet Card Systems, Inc., and Datavos Corporation, was arrested and charged with securities fraud and bank fraud . 

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FINRA Barred WFG Broker for Ponzi Scheme

Posted on November 18th, 2016 at 12:25 PM
FINRA Barred WFG Broker for Ponzi Scheme

FINRA has barred a former WFG Investment broker by the name of Stuart G. Dickinson for recommending his customers invest in a Ponzi scheme. 

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Illinois Investment Firm Owner Sentenced to Five Years for Ponzi-Scheme

Posted on November 14th, 2016 at 9:59 AM
Illinois Investment Firm Owner Sentenced to Five Years for Ponzi-Scheme

Stephen C. Browere, 57, of Geneva, Illinois, has been sentenced to five years in federal prison for using client money to purchase luxury items and to trade his own stock.

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