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 […]
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 […]
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 […]
On September 10, 2012, the Securities and Exchange Commission filed an enforcement action in federal court in Boston charging Massachusetts-based Bio Defense Corporation and others for their roles in a fraudulent offering of unregistered Bio Defense securities. The defendants are charged with defrauding investors through various misrepresentations and schemes while raising at least $26 million […]
The Securities and Exchange Commission today announced that New York-based investment advisory firm ICP Asset Management and its founder and president Thomas C. Priore have agreed to settle the agency’s charges that they defrauded several collateralized debt obligations (CDOs) they managed. ICP, Priore, and related entities have agreed to a final judgment ordering them to […]