Tr?id=566623520170033&ev=PageView&noscript=1

Notable February 2022 Ponzi Schemes

Posted on March 7th, 2022 at 9:08 AM
Notable February 2022 Ponzi Schemes

From the Desk of Jim Eccleston at Eccleston Law:

As we turn the calendar over to March, let’s recap some of the notable investment advisors who were indicted for conducting Ponzi schemes in February 2022.


In one case, Dawn Bennett had a judgement entered against her related to the Ponzi scheme she orchestrated through DJB Holdings and DJBennett.com. Bennett, 58, was ordered to pay $14.5 million in restitution and is serving a 20-year prison sentence. Bennett, who generated nearly $20 million from 46 investors, allegedly informed investors that her company would become a sportswear behemoth that would rival Under Armour.


In another case, Rudy Avila received a 17-year prison sentence and was ordered to pay at least $14.9 million in restitution pertaining to a Ponzi scheme she allegedly conducted through Starwood Asset Management Fund and Commodities Investment Group International. Avila, 69, regularly wired nearly 90% of investment funds to co-conspirators in Costa Rica.


Arizona resident, Bradley Heinrichs, was indicted on charges pertaining to an alleged $82 million Ponzi scheme. Heinrichs, 41, and several co-conspirators orchestrated a scheme involving the sale of Arizona real estate. Heinrichs and the co-conspirators allegedly promised double-digit returns to at least 110 investors.


Finally, Zachary Horowitz allegedly conducted a $650 million Ponzi scheme, which defrauded at least 200 investors. Horowitz, 35, received a 20-year prison sentence and was ordered to pay nearly $230 million in restitution. The scheme was operated through 1inMM Capital LLC and involved sham film licensing deals. Horowitz allegedly promised returns from the purported license to distribute films to Netflix and HBO.


Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, regulatory and disciplinary matters.

 
 
 

Tags:

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

I learned two important things working with Eccleston Law. First, I made a friend and ally with Jim and Steph for life. Secondly, and this is a crucial life lesson - if you need counsel, then seek out the very best. Jim was referred to me by a most trusted source. I've never had to hire an attorney for anything. Now, I know the value of hiring an important partner. Meticulous, thorough and detailed in preparation is the best way to describe Jim. Brilliant too, I might add. Bottom line, I would highly highly recommend Jim and Stephany for your legal needs. One of the best life decisions I've ever made.

Howard S.

LATEST NEWS AND ARTICLES

1793380402 Law
October 30, 2026
Former LPL Broker Faces Federal Charges in Alleged $11 Million Ponzi Scheme

Federal prosecutors accuse former LPL Financial broker William B.

1793294906 Law
October 29, 2026
FINRA Bars Former LPL Financial Broker for Refusing to Cooperate With Investigation

?The Financial Industry Regulatory Authority (FINRA?) barred Buddy Dean Mason, a former LPL Financial broker in Lakeland, Florida, after he refused to provide documents and information during an investigation into a customer complaint involving an alleged outside investment.

1793209405 Law
October 28, 2026
FINRA Panel Orders Kingswood Capital Partners and Executives to Pay Former Advisor $11.3 Million

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Kingswood Capital Partners LLC, CEO Michael Nessim, and Chief Compliance Officer Mohamed Alsoraimi to pay former advisor Rikin Patel $11,341,369.25.