Ponzi schemes

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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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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, 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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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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Patrick J. Belzner has been indicted for conspiring to commit wire fraud by a federal grand jury.  The Glen Arm, Maryland man has been indicted for his part in a $14 million investment fraud.  Belzner also used the name Patrick McCloskey.  He, along with this co- conspirator lured investors in with an assurance that their […]

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Robert Cassandro showed no discrimination when he defrauded his own relatives in a real estate Ponzi scheme, according to prosecutors.  Cassandro, a Long Island attorney, is accused of scamming $4.6 million from several investors including his own family.  He raised the money with an elaborately crafted real estate Ponzi scheme but used the money to […]

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On May 5, 2008, the U.S. Securities and Exchange had filed an emergency criminal action before the United States District Court of Eastern District of Michigan, and succeeded in obtaining orders to freeze the assets of George McKnight and several companies controlled by him. According to the SEC complaint, McKnight raised about $72 million from […]

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A Grand Haven Township woman, Lillian VanDenBerg, 83, fell victim to a $9 million Ponzi scheme operated by Jeffrey Ripley of Sparta and Danny Lee VanLiere of Grand Rapids, according to the state Attorney General’s Office.  VanDenBerg was one of at least 140 elderly West Michigan residents targeted by the duo. Ripley and VanLiere are […]

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