Tagged with "Ponzi Scheme"

SEC Obtains Emergency Relief and Files Suit Over Alleged $18 Million Ponzi Scheme

Posted on September 9th, 2021 at 1:35 PM
SEC Obtains Emergency Relief and Files Suit Over Alleged $18 Million Ponzi Scheme

The Securities and Exchange Commission (SEC) reported that it has obtained a temporary restraining order (TRO) as well as an asset freeze against Bullard Enterprises LLC and its owners, Jason Bullard and Angela Romero-Bullard.

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Investors Allege Wells Fargo Aided and Abetted Ponzi Scheme

Posted on September 3rd, 2021 at 2:10 PM
Investors Allege Wells Fargo Aided and Abetted Ponzi Scheme

A group of investors have filed a proposed class-action suit accusing Wells Fargo Bank of aiding and abetting a multimillion-dollar Ponzi scheme operated by merchant cash advance lender MJ Capital Funding LLC.

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SEC Charges Two Florida Firms and Principal Officer Over Alleged Ponzi Scheme

Posted on August 27th, 2021 at 12:47 PM
SEC Charges Two Florida Firms and Principal Officer Over Alleged Ponzi Scheme

The Securities and Commission Exchange (SEC) has been granted a temporary restraining order (TRO) as well as an asset freeze against Florida resident Johanna Garcia along with two entities she owns.

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SEC Accuses Atlanta Financial Advisor of Orchestrating a Decade-Long Ponzi Scheme

Posted on August 23rd, 2021 at 9:40 AM
SEC Accuses Atlanta Financial Advisor of Orchestrating a Decade-Long Ponzi Scheme

On August 20, 2021, the Securities and Exchange Commission (SEC) initiated a civil action (the Complaint) in Georgia federal court against an Atlanta-based financial advisor, John J. Woods (Woods, CRD No. 1949233), as well as certain related corporate entities.

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Interactive Brokers Faces Class-Action Suit Over $23 Million Ponzi Scheme

Posted on August 17th, 2021 at 11:33 AM
Interactive Brokers Faces Class-Action Suit Over $23 Million Ponzi Scheme

Interactive Brokers faces a class-action lawsuit, which was filed in Northern District of California, for allegedly aiding and abetting a $23 million Ponzi scheme.

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Two California Advisors Plead Guilty in $1.3 Billion Woodbridge Ponzi Scheme

Posted on July 23rd, 2021 at 2:38 PM
Two California Advisors Plead Guilty in $1.3 Billion Woodbridge Ponzi Scheme

Two California advisors, Dane Roseman and Ivan Acevedo, have pleaded guilty to charges relating to a $1.3 billion Ponzi scheme that impacted nearly 9,000 investors nationwide, according to federal prosecutors. Both Los Angeles natives were associated with Woodbridge Group as sales agents.

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SEC Sues Estate of Deceased Real Estate Mogul for Ponzi-Like Real Estate Scheme

Posted on June 11th, 2021 at 8:25 AM
SEC Sues Estate of Deceased Real Estate Mogul for Ponzi-Like Real Estate Scheme

The Securities and Exchange Commission (SEC) filed suit against the Estate of Kenneth Casey for allegedly misappropriating $10 million from investors.

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Woman Indicted by Federal Grand Jury over $650M Ponzi Scheme

Posted on May 21st, 2021 at 1:33 PM
Woman Indicted by Federal Grand Jury over $650M Ponzi Scheme

A Colorado woman has been charged by a federal grand jury for her involvement in a Ponzi scheme that raised nearly $650 million.

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Iowa Advisor Charged with Running Ponzi Scheme

Posted on May 4th, 2021 at 9:58 AM
Iowa Advisor Charged with Running Ponzi Scheme

Jeffery Carley, the owner of Carley Financial Group, has been accused of running a  Ponzi scheme with his customers' funds.

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Investment Firm Executive Admits to $100 Million Ponzi Scheme

Posted on April 30th, 2021 at 9:14 AM
Investment Firm Executive Admits to $100 Million Ponzi Scheme

Martin Silver, former managing partner and chief operating officer (COO)  at New York’s International Investment Group (IIG), has pleaded guilty to securities fraud, investment advisor fraud, and wire fraud charges.

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