Newsmakers
Madoff Victims’ Recovery Tops 80% of Losses
Latest distribution of more than $488 million to Bernie Madoff victims hailed as ‘historic result.’
Tag: Ponzi Scheme
Regulation
Lawyer Gets Over Six Years in Prison for Ponzi Scheme
Todd Lahr took more than $2.7 million from his own law clients for purported Papua New Guinea mining operations and used it for personal expenses.
Regulation
Financial Adviser Sentenced to More Than 3 Years in Prison for Ponzi Scheme
James Booth convinced an elderly widow to invest her late husband’s pension and another investor to hand over his child’s college funds.
Alternatives
President of Purported VC Firm Pleads Guilty to Securities, Wire Fraud
Marc Lawrence faces maximum of 60 years in prison for his role in Ponzi-like scheme.
Regulation
Ex-Trader Gets More Than 5 Years in Prison for Ponzi Scheme
Paul Rinfret pleaded guilty to defrauding investors of more than $19 million
Regulation
SEC, DOJ, CFTC Charge Three in Ponzi Scheme Targeting African Immigrants
The defendants allegedly posed as pastors to gain the trust of unsuspecting churchgoers, among other things.
Regulation
SEC Charges Texas CEO with Swindling First Responders
Many of the alleged victims scammed out of retirement funds were former San Antonio police officers.
Risk
San Diego Magnate Masterminded $400 Million Liquor License Scam
Gina Champion-Cain pleads guilty to the largest Ponzi scheme ever uncovered in Southern District of California.
Risk
Investment Adviser CIO Charged with Running Ponzi-Like Scheme
David Hu could face up to 45 years in prison for allegedly selling $60 million in fake loans.
Regulation
Crypto Ponzi Scheme Took Millions from over 100 Investors
The alleged victims included former MLB players, their families, and senior citizens.
Regulation
Mennonite Accountant Charged in $60 Million Ponzi Scheme
Philip Riehl allegedly scammed fellow Mennonites and Amish for nearly a decade.
Regulation
SEC Charges Two for Allegedly Selling Fake Interests in Marijuana Firm
Alleged fraudsters used ill-gotten gains to buy luxury cars and a yacht.
Regulation
CFO Pleads Guilty for Role in $1 Billion Ponzi Scheme
Funds were ‘pilfered’ to purchase luxury vehicles, real estate, and to pay earlier investors.
Regulation
SEC Stops Ponzi Scheme Targeting Seniors, Small Businesses
Alleged fraudsters invested funds in ‘calamitous trading strategy.’
Regulation
SEC Charges Adviser over Ponzi Scheme Targeting Haitians
Ruless Pierre, who targeted family and friends, could face 45 years in prison.