Ponzi schemes

Home » Archives by category » Ponzi schemes (Page 3)

IRVINE – The Securities and Exchange Commission has charged Brenda A. Eschbach with investment advisory fraud and securities fraud.  The SEC accuses Eschbach with being involved in multi-year misappropriation of client funds.  Eschbach, who hails from Tustin, California, has been acting as an unregistered broker, and has allegedly misappropriated $3 million in investment advisory client […]

Continue reading …

CHICAGO – U.S. District Judge David Herndon sentenced 58 year old Victoria McGee-Harris, a licensed insurance agent and securities broker operating from Swansea, to 17 ½ years in federal prison on charges of wire fraud and money laundering. McGee-Harris, who sold annuities and other financial instruments for MetLife, charmed over 50 investors, mostly elderly and […]

Continue reading …

Michael Joseph Krzyzaniak, 63, has been sentenced to 151 months in prison, the maximum allowed, for having scammed investors of $26 million. Krzyzaniak, a Twin Cities man was sentenced in federal court in Minneapolis. He perpetrated this scam by claiming celebrity endorsement. One of the celebrities in question here was pro golfer Phil Mickelson. Krzyzaniak […]

Continue reading …

Two-time flim flam artist Nicholas Cosmo wants less jail time for himself.  His ruined victims want more. The Ponzi scammer who ripped off investors both locally in New York and around the world is appealing his 25-year prison sentence but so far has not contested the $179 million he owes in restitution to the mostly […]

Continue reading …

STATEN ISLAND – New York businessman Joseph Mazella drove a Porsche, lived in an opulent mansion, and was a successful real estate businessman.  At least, that’s what he wanted his victims to believe, so he could more easily part them from their money.  Among his victims were many unsophisticated senior citizens, including an 82-year old […]

Continue reading …

Seattle Ponzi schemer Darren Berg knew how to live large.  He owned an opulent, waterfront mansion on Mercer Island, complete with docks where he moored his boats. One of his boats was a 53-foot yacht.  The mansion cost Berg $5.5 million.  He spent an additional $5 million to remodel it.  On top of this, Berg […]

Continue reading …

ATLANTA — Charles Michael Vaughn was sentenced to eight years and four months in prison in connection with a $10 million Ponzi scheme he organized. The sentence came after years of massive theft from Georgia senior citizens, who saw their retirement savings wiped out. “I lost my home” because of him, indicated one of his […]

Continue reading …

HOUSTON – Fallen financier Allen Stanford’s trial is unveiling the details of his alleged $7 billion fraudulent investment scheme.  Stanford’s minions described how the attempts to hide the red flags surrounding the former Texas tycoon’s alleged scheme grew increasingly desperate as federal investigators closed in on him. James M. Davis, who was Stanford’s former chief […]

Continue reading …
Page 3 of 3123