Tagged with "Ponzi Scheme"

SEC Bars Advisor for Alleged Role in $15M Ponzi Scheme

Posted on November 4th, 2016 at 12:07 PM
SEC Bars Advisor for Alleged Role in $15M Ponzi Scheme

The SEC has barred the President, Treasurer, Chief Compliance Officer and shareholder of Veros Partners, Inc. named Matthew D. Haab, pursuant to Section 203(f) of the Advisors Act. 

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SEC Hits Troubled Texas REIT with Wells Notice

Posted on October 28th, 2016 at 9:08 AM

The Securities and Exchange Commission has issued a Wells notice against troubled Texas real estate investment trust United Development Funding IV (UDF IV) as well as certain individuals associated with the REIT. 

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SEC Investor Alert

Posted on October 14th, 2016 at 9:08 AM

The SEC's Office of Investor Education and Advocacy has recently issued a warning to investors  who receive lump sum payments from insurance companies following the recent damage from Hurricane Matthew. 

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Cedar Brook Brokers Sanctioned in Connection with MedCap Fraud

Posted on October 11th, 2016 at 9:13 AM

In 2013, Cedar Brook Financial Partners, Michael Perlmuter, Howard Slater, and Azim Nakhooda had their securities licenses suspended and were fined after  FINRA alleged that they made false statements about the safety of high-risk funds such as Medical Capital Holdings, Inc. (“MedCap”).

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Mulholland Twins Sentenced 10 to 20 Years in Prison for Ponzi Scheme

Posted on October 6th, 2016 at 1:15 PM
Mulholland Twins Sentenced 10 to 20 Years in Prison for Ponzi Scheme

A Michigan judge has sentenced twins James Mulholland of St. Petersburg, Florida and Thomas Mulholland of Midland, Michigan to10 to 20 years in prison and ordered them to pay approximately $208,000 in restitution.

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Former Lawyer Runs a Ponzi Scheme

Posted on October 23rd, 2015 at 2:05 PM
Former Lawyer Runs a Ponzi Scheme

From 2008 to 2014, Charles A Bennett, a licensed attorney, orchestrated a Ponzi scheme by defrauding over 30 investors across the country, most of whom were his law clients, family members or friends, out of at least $5 million.

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Naperville Businessman Sentenced to Seven Years in Prison for Fraud

Posted on September 16th, 2015 at 4:28 PM
Naperville Businessman Sentenced to Seven Years in Prison for Fraud

John T. Burns III was sentenced to a seven year sentence in federal prison after being found guilty of defrauding clients into investing $3.3 million in fake Turkish bonds. Burns promised clients lucrative returns and informed them that he had previous experience with the bonds, even going as far as saying he had personally invested; none of which was true.

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Hedge Fund Manager Neal Goyal Reveals Details of Ponzi Scheme

Posted on July 22nd, 2015 at 5:00 PM
Hedge Fund Manager Neal Goyal Reveals Details of Ponzi Scheme

The Ponzi scheme lasted eight years and cost clients millions of dollars. After receiving a J.D. from the Thomas Jefferson School of Law in San Diego, Neal Goyal he started a hedge fund. Using his family’s network, he was able to tap into the wealthy, tightknit Hindu community in downtown Chicago.

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Investment Adviser Charged With Defrauding Retired Teachers and Police Officers

Posted on June 17th, 2015 at 8:30 AM

The SEC has charged a Miami investment adviser after discovering he was running a Ponzi scheme through his fund, Sterling Investment Fund. The Commission alleges that Phil Donnahue Williamson siphoned money from his investment fund and defrauded investors, many of whom were retired public sector retirees such as teachers and police officers as well as church pastors.

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Indiana Based Investment Advisory Firm Pleads Guilty to Investment Fraud

Posted on June 10th, 2015 at 4:39 PM

Veros Partners, an investment advisor located in Indiana, and its president Michael Haab, have been charged by the SEC for allegedly running a $15 million Ponzi scheme.

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