Investment fraud

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Dallas Investment Advisor Charged with Defrauding Her Church and Others

Delsa U. Thomas, a Dallas investment advisor, has been accused of defrauding scores of investors, including her own church, out of $2.3 million, in a fraudulent Ponzi scheme. Thomas, a former stockbroker affiliated with Morgan Stanley, was charged by the Securities and Exchange Commission (“SEC”) with fraudulently raising millions of dollars from scores of investors […]

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 […]

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A former bishop in the Church of Jesus Christ of Latter-Day Saints (“LDS”) was accused of defrauding members of his congregation or investors whom he met through his position in the LDS church.   Chad Bennett Reid, 57, of South Ogden, was criminally indicted for securities fraud and engaging in a pattern of unlawful activity. The […]

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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 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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James Michael Murray, 42, of Larkspur, Marin County, stands charged by the SEC of using a false audit report to raise more than $4.5 million for investing in a hedge fund stated to invest in domestic equities. In its lawsuit in a U.S. District Court, the SEC has accused Murray of inducing investors to invest […]

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Youngstown, FLA – Lakeland-based David L Olson, founder of A&O Companies, a company that defrauded 100 victims in nine states in a $14.8 million Ponzi scam, will plead guilty April 5 before Hon. Benita Y Pearson, Northern District Judge, according to court records. According to the indictment, Olson founded and was president of the A&O […]

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Asheville, NC – United States District Judge Martin Reidinger sentenced Orlando-based Terry Scott Hyder, 51, to federal imprisonment of seven years after Hyder pled guilty to charges of wire fraud, according to a joint announcement by U.S. Attorney Anne M Tompkins and  Special Agent in Charge of the FBI, Chris Briese.  The defendant was also […]

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Ronnie Gene Wilson, a former County Councilman with Anderson County has been charged with conning investors to the tune of $70 million.  The complaint has been filed against him by the South Carolina securities commissioner.  Wilson managed to get people to believe that they were investing in silver but was doing no such thing, according […]

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