latimes.com | 9/15/08 | Scott Glover
James Fayed was arrested shortly after his wife's death on fraud charges stemming from the couple's international gold trading business and remains in custody.
Continue reading "Police arrest man in connection with fatal Century City stabbing" »
suburbanchicagonews.com | 8/26/08 | Joe Hosey
Alleged partners in crime Frank Panice and Brian Jines were out on bond and facing one federal case when prosecutors say they hatched their next scam.
bloomberg.com | 8/11/08 | David Glovin
Two owners of WexTrust Capital LLC, a Chicago-based real-estate investment firm, were charged with using a Ponzi scheme to cheat investors, including members of an Orthodox Jewish community, out of more than $100 million.
Continue reading "WexTrust Capital Owners Charged in $100 Million Fraud" »
coloradoan.com | 8/11/08 | Trevor Huges
The accountant who managed the books of an investment fund described by prosecutors as a Ponzi scheme, admitted Friday that the only money coming in for the final nine months of operations was from new investors.
Continue reading "Fund accountant testifies in Ponzi Scheme trial" »
bizjournals.com | 8/4/08 | Staff Writer
Anthony G. Christou of Dunwoody, Ga., was sentenced Monday to about 10 years in jail on charges or wire fraud and money laundering relating to a $14 million scheme he used to fund a gambling habit.
Continue reading "Atlantan who headed $14M investment scheme sent to prison" »
indystar.com | 7/15/08 | Jon Murray
A Noblesville finance executive is among three people newly indicted by a Marion County grand jury in an expanding probe into the theft of as much as $27 million from Indiana cemeteries.
pe.com | 7/14/08 | David Olson
A Perris pastor and another man were convicted Friday in federal court of bilking more than 500 people out of more than $32 million in a fraudulent investment scheme.
Continue reading "Perris pastor convicted in Ponzi scheme" »
denverpost.com | 7/14/08 | Alex McCarthy
The outcome of the case against Frederic "Rick" Dryer is in a jury's hands following closing arguments in his trial Monday. Prosecutors say investors lost $34 million. Defense claims it's a civil case.
Prosecutors say investors lost $34 million. Defense claims it's a civil case.theaustralian.news.com.au | 6/7/08 | Adam Fresco
FOR six years Virendra Rastogi posed as the highly successful and respectable chief executive of a multi-billion-pound metal trading company. His home was in London's exclusive Mayfair, a short chauffeur-driven trip from his offices in Piccadilly, his children were at private school and his customers were dotted around the world.
But all was not quite as it appeared. The business, backed by banks in Britain and the US, was "propped up by dishonesty", the customers were Rastogi's accomplices and the customers' addresses included a New Jersey launderette and a cowshed in India.
Southwark Crown Court, in south London, heard how Rastogi engineered the scam, taking out fraudulent loans that eventually cost the banks an estimated pound stg. 343.3 million.
Continue reading "Press of a button ends career of the $700m bank scammer" »
azcentral.com | 5/23/08 | Michael Kiefer
They told investors that their production company could stage blockbuster concerts that would bring high interest returns. But according to the Arizona Attorney General's Office, they were really running a Ponzi scheme that bilked wellheeled Arizonans out of more than $26 million. Four men and one woman, mostly from the Phoenix area, were indicted this week on 204 criminal counts, including fraud and securities fraud, theft, money laundering and sale of unregistered securities and transactions by unregistered dealers or salesmen.
Continue reading "5 indicted in fraud scheme costing $26 million" »
ap.google.com | 5/27/08 | Travis Reed
ORLANDO, Fla. (AP) — Lou Pearlman, the man made famous for creating the Backstreet Boys and 'N Sync, was sentenced Wednesday to 25 years in federal prison for engineering a decades-long scam that bilked thousands of investors out of their life savings.
Continue reading "Boy band creator Pearlman sentenced to 25 years' prison" »
azcentral.com | 5/23/08 | Michael Kiefer
They told investors that their production company could stage blockbuster concerts that would bring high interest returns. But according to the Arizona Attorney General's Office, they were really running a Ponzi scheme that bilked wellheeled Arizonans out of more than $26 million.
Continue reading "5 indicted in fraud scheme costing $26 million" »
Jeanne M. Rowzee, an Irvine securities lawyer accused of bilking scores of individuals of more than $20 million in a sophisticated investment scheme, was arrested at her home Tuesday on federal wire fraud charges.
Continue reading "Jeanne Rowzee arrested on wire fraud charges" »
usatoday.com | 5/21/08 | Associated Press
LOS ANGELES (AP) — A California woman is facing criminal and civil charges in connection to a real estate scam that targeted black investors in three states, bilking hundreds of them out of $18 million, authorities said Wednesday.
fbi.gov | 4/30/08 | Press Release
SACRAMENTO, Calif.—United States Attorney McGregor W. Scott announced that JOEL NATHAN WARD, 49, of Turlock, California, was sentenced today by United States District Judge Garland E. Burrell, Jr. to nine years in prison for masterminding a Ponzi scheme in which nearly 100 investors lost over $11 million. WARD was also ordered to pay restitution in the amount of $11,275,501.53 and to serve three years of supervised release after the completion of his prison sentence. He was remanded into custody immediately following the sentencing hearing.
Continue reading "Forex Trading “Guru” Sentenced to Prison for Scamming Over $11M" »
sltrib.com | 3/31/08 | Tom Harvey
Ogden businessman Val E. Southwick pleaded guilty this morning to nine criminal charges in connection with the collapse of a web of companies that state and federal agencies say bilked at least 800 people out of $180 million.
Continue reading "Businessman pleads guilty in what is believed largest-ever fraud in state" »
seattletimes.com | 3/21/08 | Mike Carter
A 42-year-old Woodinville businessman was sentenced today to 4 ½ years in federal prison and ordered to pay nearly $12 million in restitution for bilking investors in his firm, Global Asset Partners.
Continue reading "Woodinville man gets 4-1/2-year sentence for bilking investors in Ponzi scheme" »
dailymail.com | 3/20/08 | Staff Writer
At least 150 investors in 25 states will recover a fraction of their losses from what federal authorities say was a $21 million Ponzi scheme run by a West Virginia man.
Continue reading "West Virginia man settles fraud case with SEC" »
Continue reading "Boy band creator Pearlman set to plead guilty in fraud scheme" »
sacbee.com | 2/23/08 | Denny Walsh
Federal prosecutors are preparing to take away a Folsom man's $1 million home because, they say, he bought it with part of at least $7 million stolen from victims of his investment fraud.
ocregister.com | 2/25/08 | Andrew Galvin
CORONA John Heath, one of three men convicted in a $187 million investment fraud that preyed on senior citizens, including many who live in Orange County, was sentenced Friday to 28 years and four months in state prison.
news.bbc.co.uk | 2/26/08 | Staff Writer
Two accountants have been found guilty of a £100m investment fraud in which they told victims that celebrities were involved in the bogus trading scheme.
nptimes.com | 2/12/08 | Staff Writer
John G. Bennett Jr., who rocked the philanthropy world during the mid-1990s with a donation matching program that turned out to be a major Ponzi scheme, is due to be released from federal custody early next month.
Continue reading "Charity Scammer Bennett Gets Out Of Prison" »
sltrib.com | 2/6/08 | Tom Harvey
Val E. Southwick, a smooth-talking businessman who sometimes used his LDS faith to persuade potential investors to part with their money, was charged Wednesday with nine felonies in what federal and state authorities describe as a massive Ponzi scheme that bilked about 800 investors out of as much as $180 million.
Continue reading "Southwick used LDS Background to Bilk Investors" »