Michael Stancey

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Michael
Entries posted by Michael

Forex Scheme in Texas Exposed, Perpetrators Sentenced to Prison

Christopher Cornett, 43, and his accomplice, Heidi Beyer, 49, were sentenced to 40 and six years of prison, respectively, for perpetrating a fraudulent investment scheme that stole over $10 million from more than 100 investors. This was not Cornett’s first conflict with the law.  In 2003 he lost his stockbroker license, and was subsequently sentenced […]

Michael D. Montgomery, a former stockbroker and investment advisor in Colorado and Washington state, was sentenced to five years in federal prison for stealing over $1 million from his clients.   Montgomery, 44, was a licensed stockbroker in Tacoma, Washington up until 2009.  He later moved to Aspen, where he passed himself as a successful […]

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The ZeekRewards “largest net winners” will soon be required to turn over to the court-appointed Receiver all their records showing, among others, how much money they received in “profit payments” from Zeek, pursuant to the Motion filed by the receiver in federal court. ZeekRewards.com, Rex Venture Group LLC, and their principal, Paul Burks, have been charged […]

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The defunct legal powerhouse Dewey & LeBoeuf was a Ponzi scheme, according to a former senior partner of that law firm.  Henry Bunsow, Dewey’s former IP partner, filed a lawsuit against the firm, accusing it of fraud.  The lawsuit casts a light upon the notoriously secretive world of elite global law firms and their compensation […]

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YOUNGSTOWN, Ohio — The penalty for stealing $17 million from 2,700 victims and wiping out their life savings is only 6 1/2 years of prison, according to the sentence recently imposed – or perhaps more accurately said, gifted – by a U.S. District Court to Monroe Beachy of Ohio. Six-and-a-half years of prison for $17 […]

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Henrico County, VA – US District Judge Henry E. Hudson ordered Edward Thomas Menster, 58 to serve almost five years in prison for perpetrating an investment scam.  Menster, from Henrico County showed no sympathy for his victims who included parents and senior citizens who have retired from public life.  In his scheme, he managed to […]

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Ming Zhao, Chairman of Puda Coal, Inc. and Liping Zhu, its former CEO, were charged by the Securities and Exchange Commission with securities fraud for the theft of the company’s primary operating asset – its subsidiary, Shanxi Puda Coal Group Co. Ltd. According to the SEC complaint, Puda held an indirect 90 percent stake in […]

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CEDAR RAPIDS – On February 22, 2012, Donald K Washburn of Linn County was convicted by a federal court in Cedar Rapids of wire fraud, money laundering and for making false statements to the United States Probation Office while on supervised release for a previous conviction on charges of fraud.  The convictions came after a […]

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LAS VEGAS – On February 21, 2012, the Securities and Exchange Commission announced that it had charged Steven L. Hamilton and his companies Covenant Capital Partners, Verde FX Nevada LLC and Verde Retirement LLC with running a series of illegal Ponzi schemes that cheated 23 or more investors out of $1.6 million. According to the […]

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CEDAR RAPIDS, IA – Iowa-based Jeffrey J. Kinseth, and his company, Virtual Vision Inc. were ordered by the U.S. Commodity Futures Trading Commission (CFTC) to pay a civil monetary penalty of $575,000 and restitution of $574,936 for illegally soliciting participants in a pooled investment vehicle, misappropriation of their funds and issuing bogus statements to cover […]

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