Blog
SEC CHARGES PERPETRATOR OF WASHINGTON-AREA PONZI SCHEME
November 25, 2011
The Securities and Exchange Commission charged a Bethesda, Md. man and several family members and friends with conducting a multi-million dollar Ponzi scheme targeting investors in the Washington D.C. metropolitan area. The SEC alleges that Garfield M. Taylor lured primarily middle-class residents in his community with little to no investing experience to invest in promissory notes […]
Read More
$8.5 Million New Jersey Ponzi Scheme Exposed
November 15, 2011
A Philadelphia estate lawyer accused by New Jersey of heading an $8.5 million Ponzi scheme that targeted retirees has been charged with money laundering in a separate case. An indictment unsealed Monday alleges that Michael Kwasnik stole more than $1 million from a client whose trust he was overseeing, using the money instead to pay […]
Read More
Man Indicted by U.S. in $200 Million Ponzi Scheme
November 1, 2011
A purported New Jersey real estate investor was charged in an indictment with leading a $200 million Ponzi scheme that initially targeted fellow Orthodox Jews. Eliyahu Weinstein, 36, was accused by a federal grand jury in Newark, New Jersey of using sham real estate deals to bilk investors — some of them while he was […]
Read More
Madoff Executive is Charged in Ponzi Scheme
February 25, 2010
The long-time director of operations for convicted Ponzi schemer Bernard Madoff’s defunct firm was arrested and charged criminally Thursday with allegedly directing that false accounting entries be made in the firm’s books to conceal Mr. Madoff’s fraud. Prosecutors from the U.S. Attorney’s Office in Manhattan charged Daniel Bonventre, former operations director at Bernard L. Madoff […]
Read More
The Devolution of DBSI
November 17, 2009
Investors in DBSI Inc. are only now getting a clear idea of what was going on at the Idaho-based commercial real estate investment company. There was little indication to investors that financial issues existed at DBSI until a notice they received six weeks prior to the company filing for Chapter 11 bankruptcy proceedings. However, problems […]
Read More