Ponzi scheme

Maryland News: Former Financial Advisor, Dawn J. Bennett Convicted of All Federal Charges Related to $20 Million Ponzi Scheme

Dawn Bennett Misappropriated Investors’ Funds, Including Using Them to Pay a Website Operator to Arrange for Priests in India to Perform Religious Ceremonies to Ward Off Federal Investigators Greenbelt, Maryland – After deliberating for fewer than five hours, a federal jury today convicted Dawn J. Bennett, age 56, of Chevy Chase, Maryland, on all 17 … Continue reading Maryland News: Former Financial Advisor, Dawn J. Bennett Convicted of All Federal Charges Related to $20 Million Ponzi Scheme

Virginia News: NORFOLK, Investment Advisor, Edward Lee Moody Pleads Guilty to $6.1 Million Ponzi Scheme

NORFOLK, Va. – A Chesterfield man who owned and operated an investment firm in Virginia Beach pleaded guilty today to mail fraud and engaging in monetary transactions in criminally derived property. According to court documents, Edward Lee Moody, Jr., 47, was a registered investment adviser and the sole owner and operator of CM Capital Management … Continue reading Virginia News: NORFOLK, Investment Advisor, Edward Lee Moody Pleads Guilty to $6.1 Million Ponzi Scheme

New York News: Former Hedge Fund Manager, MICHAEL SCRONIC Sentenced To 96 Months In Prison In Ponzi Scheme Case

New York – Geoffrey S. Berman, the United States Attorney for the Southern District of New York, announced that MICHAEL SCRONIC, the former manager of the Scronic Macro Fund (the “Fund”), was sentenced to 96 months in prison today in connection with his scheme to defraud the Fund’s 45 investors of more than $22 million. … Continue reading New York News: Former Hedge Fund Manager, MICHAEL SCRONIC Sentenced To 96 Months In Prison In Ponzi Scheme Case

Maryland News: Baltimore And Texas Men Indicted For Alleged $364 Million Ponzi Scheme—One Of The Largest Ever Charged In Maryland

Scheme Believed to Have Over 400 Victims Nationwide, Including Individual, Family Offices, and Investment Groups – FBI Seeking Information Regarding Additional Victims; SEC has Filed Related Civil Complaint Baltimore, Maryland – A federal grand jury has indicted three men on charges of conspiracy, wire fraud, identity theft, and money laundering, arising from an alleged $364 … Continue reading Maryland News: Baltimore And Texas Men Indicted For Alleged $364 Million Ponzi Scheme—One Of The Largest Ever Charged In Maryland

New Jersey News: NEWARK, Former Financial Advisor, Daniel Rivera Charged With Fraud In Alleged Ponzi Scheme Targeting Elderly Investors

NEWARK, N.J. – A former registered investment advisor was arrested today on charges stemming from an investment fraud targeting elderly investors, U.S. Attorney Craig Carpenito announced. Daniel Rivera, 48, of Hillsborough, New Jersey, was indicted by a federal grand jury on July 31, 2018, on three counts of wire fraud. He is scheduled to appear … Continue reading New Jersey News: NEWARK, Former Financial Advisor, Daniel Rivera Charged With Fraud In Alleged Ponzi Scheme Targeting Elderly Investors

Colorado News: Metro Denver Man, Daniel B. Rudden Charged With Wire Fraud After Implementing A Ponzi Scheme

DENVER, Co. – Daniel B. Rudden, age 71, of Denver, Colorado, was charged by criminal complaint with one count of Wire Fraud after implementing a multi-million dollar Ponzi scheme, U.S. Attorney Bob Troyer and FBI Denver Division Special Agent in Charge Calvin Shivers announced.  Rudden appeared yesterday at the hearing pursuant to an arrest warrant and … Continue reading Colorado News: Metro Denver Man, Daniel B. Rudden Charged With Wire Fraud After Implementing A Ponzi Scheme

JACKSON, Miss. | Prosecutors: Mississippi man stole more than $100M in scheme

JACKSON, Miss. (AP) — Prosecutors say a Mississippi man raked in “well in excess” of $100 million from more than 250 investors in at least 14 states in a Ponzi scheme that promised quick profits on non-existent trees. Arthur Lamar Adams of Jackson, Mississippi, is cooperating with prosecutors and is likely to plead guilty at … Continue reading JACKSON, Miss. | Prosecutors: Mississippi man stole more than $100M in scheme