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Ponzi Scheme

Type: Keyphrase

Name: Ponzi Scheme

First reported 10 hours ago - Updated 10 hours ago - 1 reports

DLF Indian Premier League

Confidence, tricks and insurance

The West Bengal government, it seems, is committed to compensating the people duped by the Saradha group. This group of apparent companies collected money from unsuspecting rural and poor people with a promise of hefty returns. The money was collected ... [Published Smart Investor - 10 hours ago]

Entities: DLF Indian Premier League, Securities & Exchange Board of India, Ponzi Scheme, India, Scam

First reported 20 hours ago - Updated 14 hours ago - 2 reports

Admitted Ponzi scheme mastermind tries to withdraw guilty plea

The man who admitted masterminding one of Sacramento's biggest Ponzi schemes in years is trying to withdraw his guilty plea.The lawyer for Anthony Vassallo says his client pleaded guilty only because he couldn't prepare a defense while stuck in an Oroville ... [Published Sacramento Bee - 14 hours ago]

Entities: Anthony Vassallo, Ponzi Scheme, Bail, prison

First reported May 24 2013 - Updated 19 hours ago - 5 reports

Grand jury indicts father, daughter in alleged fraud case

The Maui NewsSave |A federal grand jury charged a Maui father and daughter - The Mortgage Store owners George Lindell, 65, and Holly Hoaeae, 39 - with bilking more than $8.6 million from unsuspecting investors in an alleged pyramid or Ponzi scheme from ... [Published Maui News - 19 hours ago]

Entities: Grand Jury, Indictment, Fraud

First reported 20 hours ago - Updated 20 hours ago - 1 reports

Hedge Fund Manager Maiden Pleads Guilty To Fraud

North Carolina hedge fund manager Stephen Maiden has admitted running an $8.9 million Ponzi scheme.Maiden pleaded guilty yesterday. He struck a plea deal with federal prosecutors, who accused the Maiden Capital Opportunity Fund manager of sending clients ... [Published FINalternatives - 20 hours ago]

Entities: Hedge Fund, Fraud, Ponzi Scheme

First reported 21 hours ago - Updated 21 hours ago - 2 reports

New bankruptcy petition filed in Soddy-Daisy Ponzi scheme case

Photo by Contributed Photo /Chattanooga Times Free Press.Creditors and Ponzi scheme victims on Friday filed an involuntary bankruptcy petition against Jason Franklin Brown, son of apparent Ponzi scheme mastermind Jack E. Brown.Attorney Rebecca Hicks alleged ... [Published North Georgia Times Free Press - 21 hours ago]

Entities: Franklin Brown, Ponzi Scheme, Bankruptcy Petition, Jason Brown

First reported May 24 2013 - Updated 22 hours ago - 2 reports

Judge keeps trustee on Vaughan case

ALBUQUERQUE, N.M.A federal bankruptcy judge has rejected an attempt to remove the trustee seeking clawbacks against investors in a Ponzi scheme that bilked hundreds of investors out of $75 million.The Albuquerque Journal reports ( http://bit.ly/Z441Ut) ... [Published Las Cruces Sun-News - 22 hours ago]

Entities: Albuquerque (New Mexico, United States), Clawback, Bankruptcy Judge, Chapter 7, Ponzi Scheme

First reported May 24 2013 - Updated May 24 2013 - 1 reports

Vegas man admits to Ponzi scheme

Michael Lew said he hopes a former state House candidate gets the maximum prison term for taking $1.4 million from him and other investors in a nightclub and promotion company that turned out to be nonexistent. ... [Published Honolulu Star-Advertiser - May 24 2013]

Entities: Ponzi Scheme, Michael Lew

First reported May 24 2013 - Updated May 24 2013 - 2 reports

Local promoter confesses to million dollar Ponzi scheme

“Why do you think you believed him?” asked KITV reporter Lara Yamada.39-year-old Jason Pascua was a pillar in the community. Even ran a couple of companies.According to the FBI, record producer Peter Heckman promised double digit returns to anyone who ... [Published KITV 4 - May 24 2013]

Entities: Ponzi Scheme, FBI Federal Bureau of Investigation, Bernard Madoff, Recording Studio

First reported May 24 2013 - Updated May 24 2013 - 1 reports

NYC Feds' $17.75 Forfeiture Score Biggest In U.S. Marshals Service History; 14-Room Upper East Side Co-Op's Former Owner Now To Reside In Slammer For 12 Years For Running $292M Ponzi Scheme On Notorious Banksters

In New York City, the New York Post reports:The US Marshals Service said [] that its $17.75 million sale of fraudster Hassan Nemazee’s plush Park Avenue penthouse marked the biggest real-estate deal in the agency’s 224-year history .The 14-room ... [Published The Home Equity Theft Reporter Cases & Articles - May 24 2013]

Entities: Hassan Nemazee, Ponzi Scheme, US Marshals Service, Bankster, Forfeiture

First reported May 24 2013 - Updated May 24 2013 - 1 reports

Kaneohe man pleads guilty in Ponzi scheme

A Kaneohe man is pleading guilty to wire fraud in a scheme that defrauded dozens of Hawaii families. ... [Published KHNL News 8 - May 24 2013]

Entities: Ponzi Scheme, Wire Fraud

First reported May 23 2013 - Updated May 24 2013 - 3 reports

Charlotte Man Pleads Guilty To Securities Fraud

United States Attorney Anne M. Tompkins Western District of North CarolinaDefendant Operated $8.9 Million Ponzi Scheme Through Hedge FundCHARLOTTE, N.C. – Stephen E. Maiden, 40, of Charlotte, has pleaded guilty to securities fraud for carrying out an ... [Published United States Department of Justice - May 24 2013]

Entities: Securities Fraud, US Attorney, Ponzi Scheme, FBI Federal Bureau of Investigation, Hedge Fund

First reported May 23 2013 - Updated May 23 2013 - 2 reports

Madoff: JPM Had to Know What I Was Doing

A healthy -- but admittedly lonely -- Bernie Madoff told me the one thing he did right was not make his family a part of his infamous and tragic Ponzi scheme.He looks healthy and strong for a man who is now 75 years old and will only leave prison in a ... [Published FOXBusiness.com - May 23 2013]

Entities: Bernard Madoff, Ponzi Scheme, Carl Shapiro, JPMorgan Chase & Co, Jeffry Picower

Quotes

...data for it, but in his 2009 book Blunder: Why Smart People Make Bad Decisions, Zachary Shore noted that Renaissance's flagship Medallion fund "has yielded an average 38% annual return since its inception in 1988. The fund has lost money only in a single year, 1989, when it dropped 4.1%." That's so remarkable that some have mused that it's either a Madoff-like PonziPonzi scheme or a simply amazing hedge fund

Here's What Some Big-Time Quants Are Buying [Published Motley Fool - 13 hours ago]

"He was forced to enter the (guilty) plea because he had no other alternative" Reichel said in court papers filed last week

Admitted Ponzi scheme mastermind tries to withdraw guilty plea [Published Sacramento Bee - 14 hours ago]

Hawaii U S Attorney Florence Nakakuni said that, according to the indictment, the defendants "induced others to invest funds with them in an investment described by Lindell and Hoaeae as 'the Parking Lot,' where investors could earn between 6 and 8 percent return on their investment, but instead of investing the funds into safe holdings such as bonds, as represented, the defendants used the funds for their personal needs."

Grand jury indicts father, daughter in alleged fraud case [Published Maui News - 19 hours ago]

"A customs officer with known income of less than $1 million per annum filed declarations indicating that his assets had grown in excess of $12 million over the period 2003-2007. This included an investment of more than $7 million in an unregulated investment scheme. He subsequently pleaded guilty and was fined $700,000 on one count of illicit enrichment and $100,000 each on three counts of making a false statement on a declaration." It's like the fool-fool election-day officials who overstuffed ballot boxes above the maximum legitimate constituent count

Facilitating corruption [Published Jamaica Gleaner - May 24 2013]

More Content

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State 5.25 [Published West Hawaii Today - 4 hours ago]
Portion of Berlin Wall to be auctioned in Georgia [Published South Carolina Enquirer-Herald - 7 hours ago]
How Far Would You Go To Make Money? [Published EMAILWIRE.com - 8 hours ago]
Confidence, tricks and insurance [Published Smart Investor - 10 hours ago]
Here's What Some Big-Time Quants Are Buying [Published Motley Fool - 13 hours ago]
Admitted Ponzi scheme mastermind tries to withd... [Published Sacramento Bee - 14 hours ago]
The Renaming of a Generation [Published Money Morning Australia - 15 hours ago]
Here’s What Some Big-Time Quants Are Buying [Published EquityJungle - v0.1 - 17 hours ago]
Jason Salzman: No Justification for Reporters t... [Published Huffington Post - 18 hours ago]
Grand jury indicts father, daughter in alleged ... [Published Maui News - 19 hours ago]
Avoiding Fraud in a Frothy Market [Published FOXBusiness.com - 19 hours ago]
4 indicted in investment scheme that cost inves... [Published WATE - 20 hours ago]
Man accused of running Folsom Ponzi scheme seek... [Published Sacramento Bee - 20 hours ago]
Former Maui Resident Indicted for Operating Pon... [Published Hawaiian Reporter - 20 hours ago]
Hedge Fund Manager Maiden Pleads Guilty To Fraud [Published FINalternatives - 20 hours ago]
New bankruptcy petition filed in Soddy-Daisy Po... [Published North Georgia Times Free Press - 21 hours ago]
New bankruptcy petition filed in Soddy-Daisy Po... [Published Chattanooga Times Free Press - 21 hours ago]
Former Maui Residents Indicted for Operating Po... [Published United States Department of Justice - 21 hours ago]
The White House War Against Whistleblowers [Published American Free Press - 22 hours ago]
Judge keeps trustee on Vaughan case [Published Las Cruces Sun-News - 22 hours ago]
COMMENT: Nikkei nosedive not just a correction [Published Reuters - 23 hours ago]
Massachusetts' Madoff feeder fund investors can... [Published Boston Business Journal - 23 hours ago]
Rent beachside villas from billionaires [Published Thrillist - 23 hours ago]
Vegas man admits to Ponzi scheme [Published Honolulu Star-Advertiser - May 24 2013]
Former Maui residents accused in $8.6M swindle [Published Honolulu Star-Advertiser - May 24 2013]
Former Hialeah Mayor & Wife Set To Be Arraigned... [Published CBS Miami - May 24 2013]
Federal grand jury charges Maui father, daughte... [Published Maui News - May 24 2013]
Facilitating corruption [Published Jamaica Gleaner - May 24 2013]
Sharemax and directors schemed to defr... [Published Daily News South Africa - May 24 2013]
Grand jury indicts Maui couple in $8.6 million ... [Published Honolulu Star-Advertiser - May 24 2013]

Blogs

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Here’s What Some Big-Time Quants Are Buying [Published EquityJungle - v0.1 - 17 hours ago] Filed under: Investing Every quarter, many money managers have to disclose what they've bought and sold, via "13F" filings. Their latest moves can shine a bright light on smart stock picks. Today, let's look at the Renaissance Technologies hedge ...
NYC Feds' $17.75 Forfeiture Score Biggest In U.... [Published The Home Equity Theft Reporter Cases & Articles - May 24 2013] In New York City, the New York Post reports:The US Marshals Service said [] that its $17.75 million sale of fraudster Hassan Nemazee’s plush Park Avenue penthouse marked the biggest real-estate deal in the agency’s 224-year history .The 14-room ...
Madoff Claims Some of His Clients Were Aware of... [Published Wall Street Pit - May 23 2013] FBN’s Adam Shapiro went behind bars with Madoff this morning at the Federal Correctional Complex in Butner, NC for a wide ranging interview, where Madoff went on the record directly accusing some of his clients of taking part in his fraud.Madoff claims ...
Chamber of Commerce Attacks Health Safeguards, ... [Published Switchboard, from NRDC - May 22 2013] John Walke, Clean Air Director/ Senior Attorney, Washington, D.C. The Chamber of Commerce has joined leagues with Congressional extremists to urge obstructing the enforcement of federal health, environmental and financial safeguards that have proven ...
Bernie Madoff's Stuff Is The Star Attraction At... [Published Clusterstock - May 22 2013] Shamed US financier Bernie Madoff , serving a 150-year prison sentence, is back in the spotlight as the star of an exhibit in a US museum dedicated to gangsters and serial killers. A baseball bat engraved with the former mogul's name, a letter in ...

Audio/Video

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Exclusive: Madoff Changes His Story [Published FOX Business - Video - May 23 2013]
Victim: Why won't Madoff stop talking? [Published CNN.com - Video - May 18 2013]
Madoff haunted by son's death [Published CNN.com - Video - May 17 2013]
VIDEO: Misery for India 'Ponzi scheme' savers [Published BBC News Video - Business - May 02 2013]
Madoff Email: Banks Were in on Ponzi Scheme [Published WSJ.com Video - News - Mar 28 2013]

Press Releases

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Sonn & Erez PLC Files Suit Against Success Trad... [Published GlobeNewswire: Acquisitions News - Apr 19 2013]
Federal Court Finds Audit Firm Moss Adams LLP i... [Published EON Business - Apr 08 2013]
Federal Court Finds Audit Firm Moss Adams LLP i... [Published Business Wire Professional Services News - Apr 08 2013]
Illinois Investment Firm Lost Millions for Clients [Published CisionWire - English - Feb 01 2013]
Another Madoff Heads to Jail as Victims Suffer [Published CisionWire - English - Jan 08 2013]