The Securities and Exchange Commission ("SEC") has filed an emergency action and obtained a temporary restraining order and asset freeze against two Florida men and the two companies they control in connection with an alleged $6 million Ponzi scheme that has defrauded at least 55 investors, many of whom are senior citizens.
Robert H. Shapiro, former CEO of Woodbridge Group, will serve 25 years in prison for perpetrating a $1.3 billion Ponzi scheme, causing the loss of roughly $470 million for over 8,000 investors.
The Department of Justice (“DOJ”) has charged former broker James T. Booth for defrauding his clients of approximately $5 million over the course of a yearlong Ponzi scheme.
President of Executive Compensation Planners (“ECP”), Hector May, pled guilty last December to stealing $11.5 million from investors in a Ponzi scheme. He has been sentenced to 13 years in prison and ordered to pay $8.4 million in restitution.
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.
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.
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.
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.
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.
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.
