Anthony Wayne March, former operator of the non-profit organization Asset Trader in Rolesville, North Carolina, has plead guilty to a federal charge of conspiracy to commit wire fraud. The charge stems from an alleged $8.1 million Ponzi scheme.
Tagged with "Ponzi Scheme"
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Former Non-Profit Operator Pleads Guilty to Conspiracy to Commit Wire Fraud
Posted on August 6th, 2020 at 9:25 AM
David Hu Arrested and Charged with Running a Ponzi Scheme
Posted on July 20th, 2020 at 3:16 PM
Co-founder and managing partner of International Investment Group, David Hu, was arrested and charged with running Ponzi scheme of more than $100 million. Federal authorities accused Hu of overvaluing loans and covering up the scheme with falsified documents and fake entities. According to federal authorities, the scheme has gone on for more than 10 years.
Two Sarasota-Bradenton Area Men Charged for Alleged Ponzi Scheme
Posted on June 30th, 2020 at 4:11 PM
In connection with an alleged $6.3 million Ponzi scheme, Phillip Roy Wasserman and Kenneth Murry Rossman (collectively, “Defendants”) have been charged by federal prosecutors with mail fraud, wire fraud, and conspiracy to commit wire and mail fraud. Defendants are alleged to have targeted elderly individuals and convinced those individuals to liquidate traditional investments in order to invest in “FastLife,” an insurance venture by Wasserman. Wasserman and Rossman are alleged to have made fraudulent misrepresentations and to have concealed material information when soliciting investments in FastLife.
Judgment Entered Against Florida Men who Conducted a Ponzi Scheme
Posted on May 13th, 2020 at 5:00 PM
Final judgement has been entered in the federal case brought by the U.S. Securities and Exchange Commission (“SEC”) against Neil Burkholz and Frank Bianco for an alleged Ponzi scheme they ran. The SEC had already obtained a temporary restraining order and preliminary injunction against Burkholz and Bianco.
Class Action Lawsuit against Wells Fargo Will Proceed
Posted on April 23rd, 2020 at 4:54 PM
In a class action lawsuit filed against Wells Fargo for its role in an alleged Ponzi scheme, a judge ruled that Plaintiffs had alleged sufficient facts to support two of their claims. Plaintiff’s claims that Wells Fargo aided and abetted fraud and also aided and abetted a breach of fiduciary duty will be allowed to proceed. A third claim alleging negligence by Wells Fargo was dismissed.
Firm Agrees to Pay $35 Million for Ponzi Scheme
Posted on April 2nd, 2020 at 1:49 PM
Per the terms of a proposed consent judgment filed in New York Federal Court, International Investment Group LLC (“IIG”) has agreed to pay $35.2 million to resolve a case brought by the U.S. Securities and Exchange Commission (“SEC”). In the Complaint filed by the SEC, IIG was alleged to have run a Ponzi scheme going back to 2007. The agreed upon penalty consists of $30.9 million in disgorgement and $4.3 million in prejudgment interest.
Three Individuals Charged With Falsifying Records in Connection with Investment Adviser Ponzi Scheme
Posted on March 17th, 2020 at 1:29 PM
The SEC charged three individuals who, during their course of their employment, falsified and withheld documents that were requested by staff of the SEC during an ongoing investigation.
SEC Charges Two More for Alleged Involvement in California Ponzi Scheme
Posted on January 24th, 2020 at 4:47 PM
Jeffrey and Paulette Carpoff are being accused by the Securities and Exchange Commission (SEC) of running a nearly one billion dollar Ponzi scheme.
Illinois Jury Convicts Father and Son In $1.3 Million Investment Scheme
Posted on January 9th, 2020 at 2:51 PM
An Illinois federal jury recently convicted a father on 24 criminal counts and his son on 13 criminal counts. The defendants allegedly convinced family members and two church congregations to invest in what was a $1.3 million Ponzi scheme involving apartments in distress.
Father and Son Convicted in $1.3 Million Ponzi Scheme
Posted on December 23rd, 2019 at 2:18 PM
A father and son were convicted by an Illinois federal court jury in December 2019 on counts of fraud and money laundering. The two were found to have persuaded family members and two church congregations to invest in distressed apartments, though it was discovered to instead be a $1.3 million Ponzi scheme.
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