Keith T. Ashley, a financial advisor who was already under an FBI investigation for an alleged Ponzi scheme, has been charged with murder.
Tagged with "Ponzi Scheme"
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Underwater Sea Scooter No Help to Ponzi Scheme Perpetrator
Posted on November 17th, 2020 at 3:51 PM
Matthew Piercey has been arrested by the FBI for his role in an alleged Ponzi scheme. Piercey, along with his business partner, Kenneth Winton, were indicted last week by a grand jury.
Texas Man Pleads Guilty to Running Ponzi Scheme
Posted on November 4th, 2020 at 4:13 PM
Patrick O. Howard has pled guilty to running a $13 million “Ponzi-type scheme” in a federal court in Texas.
SEC Files Suit against Estate of Man Found Dead for Alleged Role in Ponzi Scheme
Posted on September 22nd, 2020 at 2:12 PM
The U.S. Securities and Exchange Commission (“SEC”) filed a Complaint against Cygnus Capital Management and the estate of Richard Ventrilla, the firm’s former president and owner.
Former Non-Profit Operator Pleads Guilty to Conspiracy to Commit Wire Fraud
Posted on August 6th, 2020 at 9:25 AM
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.
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.
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