U.S. District Judge Ricardo S. Martinez sentenced former investment advisor Dennis Gibb to five years in prison for stealing over $3 million from 15 investors.
Tagged with "Ponzi Scheme"
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Millionaire Kevin Merrill Pleads Guilty to Large Ponzi Scheme
Posted on May 20th, 2019 at 4:14 PM
A Towson millionaire pleaded guilty Thursday in a $550 million Ponzi scheme – one of the largest ever charges in Maryland. Federal prosecutors called Kevin Merrill the front man in a fraud to dupe vulnerable investors out of hundreds of millions of dollars.
FINRA Disciplined Four Financial Advisors Stemming from Fallout of the Woodbridge Ponzi-Scheme
Posted on April 26th, 2019 at 4:58 PM
This month, federal prosecutors have filed criminal charges in the Central District of California against former Woodbridge Group of Companies LLC owner, Robert H. Shapiro and two ex-directors, Dane R. Roseman and Ivan Acevedo for their roles in orchestrating a $1.3 billion Ponzi scheme involving a complex web of allegedly phony real estate investments and unregistered Florida-based funds.
Owner of Woodbridge Group and Two Ex-Directors Charged for $1.2 Billion Ponzi-Scheme
Posted on April 23rd, 2019 at 2:24 PM
Federal prosecutors have filed criminal charges in the Central District of California against former Woodbridge Group of Companies LLC owner, Robert H. Shapiro and two ex-directors, Dane R. Roseman and Ivan Acevedo for their roles in orchestrating a $1.3 billion Ponzi scheme involving a complex web of allegedly phony real estate investments and unregistered Florida-based funds.
Client Files $18 Million Lawsuit Against Securities America for Failing to Supervise Investment Adviser During Ponzi-Scheme
Posted on March 29th, 2019 at 12:59 PM
A client has filed a lawsuit against Securities America in the U.S. District Court for the Southern District of New York for failing to supervise investment adviser, Hector A. May, who recently pled guilty to orchestrating a Ponzi-scheme.
SEC Charges California CPA with Stealing Millions from Investors to Perpetrate Ponzi Scheme
Posted on March 25th, 2019 at 4:28 PM
The SEC has charged Long Beach, California CPA and unregistered investment adviser, Carol Ann Pedersen with stealing millions of dollars from investors to perpetrate a Ponzi scheme.
Chicago Area Financial Advisor Sentenced to Five Years in Prison for Investment Fraud Scheme
Posted on March 21st, 2019 at 10:36 AM
Chicago area financial advisor Richard Booy was sentenced to five years in prison after pleading guilty last year to mail fraud charges.
A Decade After the Financial Crisis of 2008, The Financial Planning Industry is Seeking Clarity Regarding Custody Status for RIAs
Posted on February 21st, 2019 at 5:06 PM
As a result of the financial crisis of 2008 and the Bernie Madoff Ponzi scheme, the SEC updated its custody rules for registered investments advisers in 2009.
Virginia Investment Adviser Sentenced to 13 Years in Prison in Connection with Operating a $5 Million Ponzi Scheme
Posted on February 8th, 2019 at 10:27 AM
According to the U.S. Department of Justice, Virginia investment adviser, Edward Lee Moody Jr. has been sentenced to 13 years in prison after pleading guilty to mail fraud and other related charges in connection with orchestrating a 13-year Ponzi-scheme.
SEC Charges New York Investment Adviser Hector May for Operating a Ponzi-Scheme
Posted on December 17th, 2018 at 2:51 PM
The SEC has filed a complaint in the Southern District of New York against former Rockland County, New York-based investment adviser, Hector May and his daughter, Vania Bell for misappropriating more than $7.9 million in a Ponzi-scheme involving the sale of bonds.
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