Investment fraud
Previously Convicted Hamilton Man Repeats Similar Investment Fraud of Nearly $2 Million
March 13, 2012 No Comment
Hamilton, MT – Dan Two Feathers, 56, a resident of Hamilton, pleaded guilty to charges of investment fraud, money laundering, conspiracy to commit investment fraud and using stolen property in interstate commerce, in federal court in Missoula. Two Feathers and two other men stand accused of causing a loss of about $800,000 to 11 investors […]
Continue reading …Officials of Chinese Company Traded in the United States Charged with Siphoning Funds, Defrauding Investors
March 12, 2012 No Comment
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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LOS ANGELES – Stanley C. Brooks, the former Chief Executive Officer of Brookstreet Securities Corp has been order to pay a $10 million penalty in a securities fraud case. The order was passed by a Los Angeles federal judge, Honorable David O.Carter. The order was passed on the 1st of March this year and follows […]
Continue reading …North Carolina Operator of Phony $3.2 Million Commodity Pool Scheme Charged of Fraud
March 8, 2012 No Comment
Charlotte, NC – Mitchell Brian Huffman, a Charlotte – based operator of a commodity pool scheme that promised high returns using a “proprietary trading program”, has been charged by the CFTC with fraud regarding exchange-traded commodity futures contracts. Huffman, who never registered with the CFTC, solicited an amount of about $3.2 million from about 30 […]
Continue reading …St. Augustine, FL – Birkenstock-clad 60-something Lydia Cladek sponsored animal rescue charities to impress her Ponzi scheme victims. Their money went to the dogs and she ended up in a cage in Federal prison. The Florida scamster orchestrated a $100 million pyramid racket named after herself for over ten years, a jury found. She used […]
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Renee Marie Brown, 48, an investment adviser from Golden Valley, entered a guilty plea to cheating investors of $1.1 million before the United States District Court Judge, Susan Richard Nelson, in St. Paul. According to her plea agreement, Brown persuaded investors to invest in a limited liability company styled “Investors Income Fund X, LLC”, which […]
Continue reading …John Kinnucan and his firm Broadband Research Corporation from Oregon have been charged with insider trading. The charges have been leveled against them by the Securities and Exchange Commission (SEC). The SEC has filed a civil injunctive action against Kinnucan as part of their ongoing investigation of insider trading. The action has been filed in […]
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