[Post updated 2021] Hundreds of small Chinese companies have figured out a way to enter the U.S. stock market. Their secret? Reverse mergers. Are these companies scams? Many seem to think so. Chinese companies looking for a quick way to raise capital merge with a defunct or nearly defunct U.S. public company. For all practical […]
Seattle Ponzi Schemer Darren Berg Convicted, Escapes!
[Post Updated… You won’t believe the wild ending!] Most people in Seattle know that Frederick Darren Berg is accused of masterminding the largest Ponzi scheme case in the history of Washington State. Berg is currently in jail awaiting trial on multiple felonies. Prosecutors have also charged Berg with bankruptcy fraud. Why is this significant? If […]
The Life and Times of Frederick Berg – Inside Seattle’s Largest Ponzi Scheme
[Post updated January 2020] Frederick Darren Berg fancies himself the king of Seattle tour busses. Prosecutors say he is the mastermind of a $130 million Ponzi scheme, one of the largest frauds ever in Washington state. A federal grand jury indicted Berg two months ago and charged him with 9 counts of wire fraud, 2 […]