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Madoff checks mailed by trustee

Victims of Bernard Madoff’s fraud will soon receive $2.48 billion to help cover their losses, more than tripling their total recovery to about $3.63 billion, the trustee liquidating the imprisoned swindler’s firm said.  Checks ranging from $1,784 to $526.9 million were mailed on Wednesday to 1,230 former customers of Bernard L. Madoff Investment Securities LLC, […]

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Ex-Stanford investment chief sentenced to 3 years

Laura Holt the former chief investment officer for Standford Financial Group was sentenced to three years in prison for obstructing a U.S. Securities and Exchange Commission probe of a $7 billion Ponzi scheme at the company. Pendergest Holt, 39, was sentenced today by U.S. District Judge Hittner in Houston. She was the third-highest- ranking executive in the financial […]

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Several charged in $100 million Ponzi

After at least four years of investigation, federal authorities announced sweeping indictments of seven businessmen who they say ran the largest Ponzi scheme in the history of the region.  Lee Loomis and his father-in-law, John Hagener, were charged along with five associates in an indictment unsealed today that accuses each of 19 counts of mail […]

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SEC Charges Connecticut-Based Broker for Stealing Investor Funds

The Securities and Exchange Commission announced today that it has charged Stephen B. Blankenship, a resident of New Fairfield, Connecticut, and Deer Hill Financial Group, LLC, a Connecticut limited liability company under Blankenship’s control, with a scheme to defraud investors. The Commission’s Complaint alleges that, from at least 2002 through November 2011, Blankenship misappropriated at […]

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Illinois couple sentenced for investment fraud

The U.S. Department of Justice says a Will County couple has been sentenced to federal prison for stealing more than $1 million through an investment scheme. The department says 68-year-old James Pilon was sentenced Wednesday to 53 months in prison after pleading guilty to fraud before going to trial. Fifty-nine-year-old Verna Pilon pleaded guilty to […]

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