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Tagged with "Ponzi Scheme"

Connecticut Advisor Pleads Guilty to Ponzi-Like Investment Fraud and Tax Evasion

Posted on March 13th, 2026 at 10:32 AM
Connecticut Advisor Pleads Guilty to Ponzi-Like Investment Fraud and Tax Evasion

Federal prosecutors announced that investment adviser John A.

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SEC Accuses Florida Resident of Running $35 Million Ponzi Scheme Targeting Church Members

Posted on August 2nd, 2023 at 11:51 AM
SEC Accuses Florida Resident of Running $35 Million Ponzi Scheme Targeting Church Members

The Securities and Exchange Commission (SEC) has charged Brent Seaman and several entities under his management with conducting fraudulent activities.

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SEC Charges Three Additional Advisors for Recommending Horizon Ponzi Scheme to Investors

Posted on June 22nd, 2022 at 1:17 PM
SEC Charges Three Additional Advisors for Recommending Horizon Ponzi Scheme to Investors

The Securities and Exchange Commission (SEC) has filed suit against Michael Mooney, Britt Wright, and Penny Flippen pertaining to their engagement with a Ponzi scheme, which raised at least $110 million from nearly 400 investors.

 
 

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SEC Obtains Emergency Relief To Halt Alleged Ponzi Scheme

Posted on June 3rd, 2022 at 8:40 AM
SEC Obtains Emergency Relief To Halt Alleged Ponzi Scheme

The Securities and Exchange Commission (SEC) has successfully obtained emergency relief, including asset freezes, against two investment advisory firms and their owners for allegedly selling pre-IPO shares that they did not own.

 
 
 

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Federal Jury Convicts Sarasota Advisor Over $80 Million Ponzi Scheme

Posted on May 12th, 2022 at 1:15 PM
Federal Jury Convicts Sarasota Advisor Over $80 Million Ponzi Scheme

A federal jury has convicted a Sarasota-based advisor, Michael DaCorta, for conducting an $80 million Ponzi scheme.

 
 
 

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SEC Obtains TRO and Asset Freeze Against Alleged Perpetrators of $450 Million Ponzi Scheme

Posted on April 25th, 2022 at 12:21 PM
SEC Obtains TRO and Asset Freeze Against Alleged Perpetrators of $450 Million Ponzi Scheme

The Securities and Exchange Commission (SEC) has charged and obtained an asset freeze against numerous Las Vegas-based individuals and entities for allegedly operating a $450 million Ponzi scheme involving purported personal injury settlements.

 
 

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New York Advisor Receives 17-Year Prison Sentence Over Ponzi Scheme

Posted on January 18th, 2022 at 1:43 PM
New York Advisor Receives 17-Year Prison Sentence Over Ponzi Scheme

A New York-based advisor, Perry Santillo, received a 17-year prison sentence for his role in operating a Ponzi scheme that generated at least $115 million from more than 1,000 investors.

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Ohio Advisor Pleads Guilty In $9.3 Million Ponzi Scheme

Posted on January 14th, 2022 at 12:37 PM
Ohio Advisor Pleads Guilty In $9.3 Million Ponzi Scheme

A former Northeast Ohio-based advisor, Tara Brunst, has pleaded guilty to her role in a $9.3 million Ponzi scheme.

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We just wanted to say thanks for your work in helping us get back some of the money we lost. We are not by any means rich, but we have saved some money and we have done so through a tight-fisted approach to most everything we do. So losing a significant chunk of money hurt…especially at a time when everyone else was growing their accounts. We really appreciate the work you did.

Allan and Adele

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April 7, 2026
SEC Charges Long Island RIA and Executives in $138 Million Private Fund Scheme

A Long Island-based registered investment adviser and two of its senior executives now face parallel civil and criminal proceedings tied to an alleged scheme involving conflicted private fund investments, as reported by InvestmentNews.

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April 6, 2026
FINRA Arbitration Panel Orders Fidelity to Pay $1.3 Million Over Structured Product Disputes

A Financial Industry Regulatory (FINRA) arbitration panel has ordered Fidelity Brokerage Services to pay approximately $1.3 million to two groups of clients who alleged misconduct tied to structured product investments, according to ThinkAdvisor.

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April 3, 2026
FINRA Enforcement Trends Show Higher Monetary Sanctions Despite Fewer Cases in 2025

The Financial Industry Regulatory Authority (FINRA) increased total monetary sanctions in 2025, even as the number of enforcement actions declined.