Articles tagged with ponzi
Wed, April 25, 2012
Four charged in $400 million Ponzi fraud
By Jessica Dye
NEW YORK (Reuters) - Four former employees of a Long Island-based investment firm were charged Wednesday with running a Ponzi fraud that ...
Wed, April 04, 2012
Madoff wives to face trustee claims in Ponzi case
By Jonathan Stempel
NEW YORK (Reuters) - The trustee seeking money for victims of Bernard Madoff's Ponzi scheme, who lost an estimated $20 billion ...
Fri, March 23, 2012
Ex-NBA player Tate George indicted in Ponzi case
By Jonathan Stempel
(Reuters) - Tate George, a former National Basketball Association player who held himself out as the chief executive of a real estate ...
Tue, March 20, 2012
JPMorgan wins dismissal of Ponzi scheme accusations
By Jonathan Stempel
(Reuters) - A federal appeals court dismissed a lawsuit seeking to hold JPMorgan Chase & Co
Tue, March 20, 2012
Hearing Set In Ponzi Scheme Case
GRAND HAVEN (WHTC) - Two Kent County men being prosecuted for conducting what the state Attorney General's office calls the largest Ponzi scheme in ...
Wed, March 14, 2012
Kent County Men Prosecuted in Ottawa Co. for Record Ponzi Scheme
GRAND HAVEN, MI (WHTC-Holland) - The prosecution of what the state Attorney General’s office claims is “the largest Ponzi scheme in Michigan history” is ...
Tue, March 06, 2012
Stanford guilty of bilking investors of billions
By Anna Driver
HOUSTON (Reuters) - Allen Stanford was convicted on Tuesday of running a $7 billion Ponzi scheme, a verdict that caps a riches-to-rags ...
Wed, December 28, 2011
No trial delay for accused Ponzi schemer Stanford
(Reuters) - Allen Stanford, accused of running a $7.2 billion Ponzi scheme, on Wednesday lost his bid for a three-month delay in his criminal ...
Tue, December 27, 2011
Ponzi Scheme Leader Reporting to Prison This Week
DETROIT (WKZO) -- A Detroit-area man has been ordered to report to prison later this week for his role in one of Michigan's costliest ...
Fri, December 09, 2011
Court affirms 50-year sentence for Ponzi schemer Petters
By Terry Baynes
(Reuters) - A Minnesota businessman sentenced to 50 years in prison for running a $3.7 billion Ponzi scheme lost his bid ...
Thu, November 17, 2011
Victim payout plan sought in Stanford's Ponzi case
By Jonathan Stempel
(Reuters) - Victims of Allen Stanford's alleged $7.2 billion Ponzi scheme may soon have a chance to submit claims, though ...
Thu, November 17, 2011
Victim payout plan sought in Stanford's Ponzi case
By Jonathan Stempel
(Reuters) - Victims of Allen Stanford's alleged $7.2 billion Ponzi scheme may soon have a chance to submit claims, though ...
Tue, November 15, 2011
Sino-Forest is no "Ponzi" scheme: panel report
By Farah Master
HONG KONG (Reuters) - Canada-listed Sino-Forest Corp said an independent committee found no evidence of fraud at the Chinese timber firm following ...
Mon, October 03, 2011
HK regulator fines Citi $770,000 for employees' Ponzi scheme
HONG KONG (Reuters) - Hong Kong's securities regulator has fined Citigroup
Fri, September 23, 2011
Former NBA player charged in $2 million Ponzi scheme
By Ray Sanchez
NEW YORK (Reuters) - A former NBA player and chief executive officer of a New Jersey real estate development firm surrendered to ...
Wed, September 21, 2011
Full Tilt Poker rejects Ponzi allegations: lawyer
NEW YORK (Reuters) - A lawyer for Full Tilt Poker rejected on Wednesday allegations made by federal prosecutors that the company and its board of ...
Wed, September 21, 2011
Full Tilt Poker rejects Ponzi allegations
By Andrew Longstreth
NEW YORK (Reuters) - A lawyer for Full Tilt Poker rejected allegations made by U.S. federal prosecutors that the online poker ...
Tue, September 20, 2011
U.S. calls online poker site a "global Ponzi scheme"
By Grant McCool
NEW YORK (Reuters) - U.S. prosecutors made new allegations on Tuesday in a probe of the Full Tilt Poker website, accusing ...
Thu, September 15, 2011
Ex-wife may recover assets tied to Ponzi scheme: court
By Jonathan Stempel
NEW YORK (Reuters) - A federal appeals court on Thursday lifted an asset freeze imposed on a woman whose divorce proceeds derived ...
Tue, September 06, 2011
Ex-Petters execs must face Ponzi claims lawsuit
By Jonathan Stempel
NEW YORK (Reuters) - Two former executives who worked for convicted Ponzi scheme operator Thomas Petters can be sued by an investment ...
Thu, August 11, 2011
Caribbean Ponzi schemer sentenced to 30 years
MIAMI (Reuters) - A Jamaican banker who ran a Ponzi scheme that bilked thousands of investors in Florida and the Caribbean out of $220 million ...
Tue, July 19, 2011
U.S. man gets 22 years in Ponzi case targeting Jews
By Jonathan Stempel
NEW YORK (Reuters) - A former private equity executive was sentenced on Monday to nearly 22 years in prison, the maximum term ...
Fri, July 15, 2011
Ex-trader pleads innocent to Ponzi scheme charges
CHICAGO (Reuters) - A former currency trader extradited from Peru pleaded not guilty in U.S. District Court on Friday to criminal fraud charges stemming ...
Fri, June 17, 2011
N.Y. man gets 20 years for $24 million Ponzi scheme
By Jessica Dye
NEW YORK (Reuters) - With dozens of his victims watching, an investment manager once dubbed by the media as "Brooklyn's Bernie ...
Wed, June 08, 2011
Architect of $930 mln Ponzi scheme gets 20-year term
By Jonathan Stempel
NEW YORK (Reuters) - A Florida man who admitted to running a $930 million Ponzi scheme tied to a fake grocery distribution ...
Sat, June 04, 2011
Treasures of alleged Ponzi schemer Stanford auctioned
By Deborah Quinn Hensel
HOUSTON (Reuters) - While Texas financier Allen Stanford awaits trial on charges of running a $7 billion Ponzi scheme, hordes of ...
Wed, May 18, 2011
Madoff's wine fetches $41,530 for Ponzi victims
By Jonathan Stempel
NEW YORK (Reuters) - Every little drop helps.
The eclectic wine and spirits collection belonging to imprisoned Ponzi schemer Bernard Madoff fetched ...
Thu, May 05, 2011
U.S. narrows case versus accused Ponzi schemer Stanford
By Jonathan Stempel
NEW YORK (Reuters) - Federal prosecutors have narrowed their criminal case against Allen Stanford, the Texas financier accused of running a $7 ...
Fri, April 29, 2011
SEC freezes China Voice assets, cites Ponzi scheme
NEW YORK (Reuters) - The Securities and Exchange Commission on Friday said it won a court order freezing the assets of China Voice Holding Corp ...
Fri, April 22, 2011
U.S. man gets 8 years prison in $80 million ATM Ponzi scam
NEW YORK (Reuters) - An Arkansas man was sentenced on Friday to eight years and four months in prison for helping run what prosecutors called ...
Tue, March 29, 2011
Jamaican man pleads guilty to $220 million Ponzi scheme
ST. PETERSBURG, Florida (Reuters) - A Jamaican man admitted in federal court on Tuesday to swindling thousands of Florida and Caribbean island investors out of ...
Tue, March 29, 2011
Caribbean Ponzi schemer pleads guilty in U.S. court
MIAMI (Reuters) - A Jamaican financier who ran a Ponzi scheme that defrauded thousands of investors in Florida and the Caribbean out of more than ...
Thu, March 24, 2011
Ponzi schemer charged with insider trading
MIAMI (Reuters) - Barry Minkow, an audacious former Ponzi scheme swindler who claimed to have cleaned up his act, was charged on Thursday with insider ...
Thu, March 24, 2011
Ex-Ponzi-schemer charged with insider trading
MIAMI (Reuters) - Barry Minkow, a former Ponzi scheme swindler who claimed to have cleaned up his act, was charged on Thursday with insider trading ...
Wed, March 23, 2011
Money manager gets 3-9 years prison in Ponzi case
NEW YORK (Reuters) - A money manager who claimed ties to Belgian royalty was sentenced on Wednesday to 3 to 9 years in prison after ...
Wed, March 16, 2011
Head of National Lampoon charged with Ponzi scheme
By Alex Dobuzinskis
LOS ANGELES (Reuters) - The president and CEO of the comedy firm National Lampoon Inc was arrested on Wednesday on charges that ...
Mon, March 14, 2011
Accused Ponzi schemer Allen Stanford denied bail
NEW YORK (Reuters) - Allen Stanford, the financier accused of running a $7 billion Ponzi scheme, has been denied bail by a federal appeals court ...
Mon, March 07, 2011
Connecticut Hedge fund mgr pleads guilty over Ponzi scheme
By Jonathan Stempel
NEW YORK (Reuters) - A Connecticut hedge fund manager pleaded guilty on Monday to running a multiyear Ponzi scheme that may have ...
Mon, March 07, 2011
Guilty plea over Connecticut hedge fund Ponzi scheme
By Jonathan Stempel
NEW YORK (Reuters) - A Connecticut hedge fund manager pleaded guilty on Monday to running a multiyear Ponzi scheme that may have ...
Mon, February 28, 2011
Man gets 8 years prison for $80 million ATM Ponzi scheme
By Jonathan Stempel
NEW YORK (Reuters) - A North Carolina man was sentenced on Monday to eight years and one month in prison after pleading ...
Tue, February 15, 2011
Madoff says banks had to know of Ponzi scheme: report
By Jonathan Stempel
NEW YORK (Reuters) - A frail Bernard Madoff, facing the rest of his life in prison, said a variety of banks and ...
Thu, February 03, 2011
Guilty plea in Ponzi scheme said to target Orthodox Jews
NEW YORK (Reuters) - A former private equity executive has pleaded guilty to fraud charges in connection with what federal investigators called a $255 million ...
Tue, November 23, 2010
Ponzi Scheme Conviction Announced By Attorney General Cox
(Lansing, MI) -- Scott Pionk will spend the next four to ten years in prison for orchestrating a two-million-dollar Ponzi scheme. Michigan Attorney General Mike ...
Wed, November 17, 2010
AG Cox Announces Arraignment Of Couple Accused Of Ponzi Scheme
(Lansing, MI) -- Michigan Attorney General Mike Cox is charging 58-year-old Rita Gosselin and her 62-year-old husband Richard with defrauding dozens in a massive real ...
Mon, November 15, 2010
New York jury convicts man over $80 million Ponzi scheme
NEW YORK (Reuters) - A Texas man has been convicted by a federal jury for helping run what prosecutors called an $80 million Ponzi scheme ...
Mon, October 18, 2010
Man pleads guilty in $80 million ATM Ponzi scheme
By Jonathan Stempel
NEW YORK (Reuters) - A man pleaded guilty on Monday to helping orchestrate what prosecutors called an $80 million Ponzi scheme that ...
Tue, September 14, 2010
NJ woman pleads guilty in $45 million Ponzi scheme
NEW YORK (Reuters) - A New Jersey woman on Tuesday pleaded guilty to running a $45 million Ponzi scheme in which she promised to invest ...
Thu, September 02, 2010
Fraud And Ponzi Scheme
GRAND RAPIDS -- A Dallas man pleads guilty to fraud charges in connection with a Michigan oil and gas ponzi scheme. Joseph Blimline admits that ...
Fri, August 27, 2010
U.S. seeks extradition of Caribbean Ponzi schemer
By Kevin Gray and Pascal Fletcher
MIAMI (Reuters) - U.S. authorities want to extradite from the Turks and Caicos Islands a Jamaican banker accused ...
Fri, July 30, 2010
Petters seeks new trial after Ponzi conviction
By Emily Chasan
NEW YORK (Reuters) - Lawyers for convicted U.S. Ponzi schemer Tom Petters on Friday asked an appeals court to send the ...
Fri, June 18, 2010
U.S. wants one trial in Stanford Ponzi case
By Jonathan Stempel
TORONTO (Reuters) - On the first anniversary of the indictment of Texas financier Allen Stanford, prosecutors urged a federal judge not to ...
Wed, June 16, 2010
New Jersey woman charged in $45 million Ponzi scheme
NEW YORK (Reuters) - A New Jersey woman was charged on Wednesday with running a $45 million Ponzi scheme in which she promised high returns ...
Mon, June 14, 2010
Ponzi Scheme Shut Down In Detroit
(Lansing, MI) -- The state's Office of Financial and Insurance Regulation has shut down an alleged Ponzi scheme in Detroit. OFIR said the one-point-nine-million-dollar ...
Wed, June 09, 2010
Florida Ponzi mastermind gets 50-year sentence
By Tom Brown
FORT LAUDERDALE, Florida (Reuters) - South Florida Ponzi scheme mastermind Scott Rothstein was sentenced to 50 years in prison on Wednesday for ...
Sat, May 15, 2010
Ponzi Scheme Broken Up
Another alleged ponzi scheme has been broken up in Michigan. Michigan Attorney General Mike Cox is charging a former securities broker from Clinton Township ...
Wed, May 12, 2010
Ponzi Scheme Charges Filed By AG Cox
(Lansing, MI) -- Michigan Attorney General Mike Cox is charging a former securities broker from Clinton Township with operating a two-million-dollar Ponzi scheme. His office ...
Tue, April 27, 2010
Ex-colleague of Florida Ponzi fraudster is charged
MIAMI (Reuters) - A former colleague of a South Florida lawyer who operated a $1.2 billion Ponzi scheme was charged on Tuesday with engaging ...
Tue, April 13, 2010
Exec pleads guilty in Ponzi scheme targeting Jews
By Jonathan Stempel
NEW YORK (Reuters) - The founder and chairman of private equity firm WexTrust Capital LLC has pleaded guilty to fraud in connection ...
Thu, April 08, 2010
Ponzi schemer Petters gets 50-year prison sentence
By Todd Melby
ST. PAUL, Minnesota (Reuters) - A federal judge sentenced Minnesota businessman Tom Petters to 50 years in prison on Thursday for running ...
Mon, March 29, 2010
West Point grad charged in $30 million Ponzi scheme
WASHINGTON (Reuters) - A West Point graduate who claimed his knowledge of physics allowed him to predict "with an uncanny degree of certainty" trends in ...
Thu, March 25, 2010
Ponzi tax breaks proposed by U.S. bipartisan group
WASHINGTON (Reuters) - A bipartisan group of Senators on Thursday proposed legislation that would expand tax breaks for investors swindled in Ponzi schemes such as ...
Tue, March 09, 2010
U.S. seeks 335 years for ill Petters in ponzi case
By Jonathan Stempel
NEW YORK (Reuters) - Federal prosecutors said Tom Petters should be sentenced to 335 years in prison for running a $3.65 ...
Fri, March 05, 2010
State Busts Alleged Ponzi Scheme
(Lansing, MI) -- State officials say they have taken action against an alleged multi-million-dollar Ponzi scheme in the Detroit area. Michael Winans, Jr. is accused ...
Wed, March 03, 2010
SEC charges Miami couple in Ponzi scheme
WASHINGTON (Reuters) - U.S. securities regulators charged a prominent Miami couple on Wednesday with running a $135 million Ponzi scheme that victimized elderly Cuban-Americans ...
Wed, January 27, 2010
Florida lawyer pleads guilty to huge Ponzi scheme
By Dan Margolies
WASHINGTON (Reuters) - Disbarred South Florida lawyer Scott Rothstein pleaded guilty on Wednesday to orchestrating a Ponzi scheme that bilked clients out ...
Wed, January 06, 2010
Florida lawyer to plead guilty in $1 billion Ponzi case
By Tom Brown
MIAMI (Reuters) - Accused Florida Ponzi mastermind Scott Rothstein has decided to plead guilty to charges he ran an investment scheme that ...
Wed, December 02, 2009
Tom Petters found guilty of Ponzi scheme fraud
By Art Hughes
ST. PAUL, Minnesota (Reuters) - A federal jury on Wednesday found Minnesota businessman Tom Petters guilty of orchestrating a $3.65 billion ...
Tue, December 01, 2009
Ex-lawyer charged in $1.2 billion Florida Ponzi scheme
By Jane Sutton
MIAMI (Reuters) - A disbarred Florida lawyer surrendered to the FBI on Tuesday and pleaded not guilty to charges he bilked investors ...
Tue, December 01, 2009
Former lawyer charged in $1 billion Florida Ponzi scheme
MIAMI (Reuters) - A disbarred Florida lawyer surrendered to the FBI Tuesday to face charges he ran a Ponzi scheme that bilked investors out of ...
Tue, December 01, 2009
Arrest imminent in Florida Ponzi case: report
MIAMI (Reuters) - A disbarred Florida lawyer accused by the FBI of running a $1 billion investment scam is expected to be arrested Tuesday on ...
Mon, November 30, 2009
No verdict yet in U.S. case of accused Ponzi schemer
ST. PAUL, Minnesota (Reuters) - A federal jury adjourned deliberations on Monday without reaching a verdict over whether Minnesota businessman Tom Petters orchestrated a $3 ...
Tue, November 24, 2009
Jury adjourns till Monday in Ponzi fraud case
By Todd Melby
ST. PAUL, Minnesota (Reuters) - Accused Ponzi schemer Tom Petters will wait at least six more days to learn his fate after ...
Mon, November 23, 2009
Accused Ponzi schemer Petters' case goes to jury
By Art Hughes
ST. PAUL, Minnesota (Reuters) - The government made a final effort to convince jurors on Monday that accused Ponzi schemer Tom Petters ...
Fri, November 20, 2009
Accused Ponzi schemer: I learned of fraud late
By Art Hughes
ST. PAUL, Minnesota (Reuters) - Minnesota businessman Tom Petters made a final push on Friday to convince a federal jury he was ...
Wed, November 18, 2009
Accused Ponzi schemer Petters downplays daily role
ST. PAUL, Minnesota (Reuters) - Tom Petters, on trial as the alleged mastermind of a $3.65 billion Ponzi scheme, took the witness stand in ...
Mon, November 16, 2009
SEC files charges over "green" Ponzi scheme
By Jonathan Stempel
NEW YORK (Reuters) - The U.S. Securities and Exchange Commission charged four individuals and two companies with running a $30 million ...
Tue, November 10, 2009
Florida lawyer linked to extensive Ponzi scheme
By Tom Brown
MIAMI (Reuters) - A prominent Florida lawyer whose assets were seized this week by federal agents is believed to have run an ...
Mon, November 09, 2009
Ex-SEC lawyer pleads guilty in Dreier Ponzi fraud
NEW YORK (Reuters) - A former enforcement lawyer with the U.S. Securities and Exchange Commission pleaded guilty to impersonating two people to help confessed ...
Tue, November 03, 2009
CORRECTED: Petters eyed delaying audit in Ponzi case: witness
Corrects quote in 10th paragraph and paraphrase in 9th paragraph
By Todd Melby
ST. PAUL, Minnesota (Reuters) - Accused Ponzi schemer Tom Petters tried to ...
Mon, November 02, 2009
Petters eyed delaying audit in Ponzi case: witness
By Todd Melby
ST. PAUL, Minnesota (Reuters) - Accused Ponzi schemer Tom Petters tried to put off an audit of his businesses shortly before they ...
Thu, October 29, 2009
U.S. says Petters faked checks, orders in Ponzi scheme
By Todd Melby
ST. PAUL, Minnesota (Reuters) - Tom Petters concocted fake checks and purchase orders as part of a Ponzi scheme to deceive retailers ...
Fri, October 16, 2009
Florida man sentenced to 24 years for Ponzi scheme
MIAMI (Reuters) - A Florida money manager was sentenced to 24 years in prison on Friday for orchestrating a Ponzi fraud scheme that took in ...
Fri, October 16, 2009
$14 million Ponzi scheme targeted Haitian Americans: U.S.
MIAMI (Reuters) - U.S. authorities charged three Floridians on Friday in an alleged $14 million Ponzi scheme that defrauded hundreds of Haitian American investors ...
Tue, September 08, 2009
U.S. says NY Ponzi operator diverted money for porn
By Jonathan Stempel
NEW YORK (Reuters) - A New York money manager has been arrested and charged with running a $40 million Ponzi scheme over ...
Thu, September 03, 2009
Florida man charged with $37 million Ponzi scheme
MIAMI (Reuters) - A Florida man has been arrested on charges he ran a $37 million Ponzi scheme that guaranteed customers a monthly return of ...
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