Posts Tagged Ponzi scheme
It Must Be True, I Heard It On TV
Posted by admin in Fraud Recovery, White Collar Criminal on December 13, 2011
by Brian Mahany
My grandmother would often say “It must be true, I heard it on TV.” That was years ago but people still believe things they see or hear on the TV, radio or Internet. Now a federal grand jury in Los Angeles has indicted a radio talk show host and charged him with running [...]
Another CPA Firm Sued For Failing to Spot Ponzi Scheme
Posted by admin in Fraud Recovery on December 12, 2011
by Brian Mahany
Eleven months ago, we reported on Frederick Berg and the reportedly largest Ponzi scheme in Seattle’s history. Berg was indicted at the close of 2010 after federal prosecutors say he bilked hundreds of investors out of $130 million. Much of that money was frittered away on Berg’s lavish lifestyle - the Seattle Times [...]
A Rolling Stone May Gather No Moss But A Rolling Stones Concert Promoter Gathers 9 Year Sentence
Posted by admin in Fraud Recovery on November 29, 2011
by Brian Mahany
Day after day and the fraud stories keep rolling in. This one comes to us from Arizona where promoter Miko Dion Wady received a 9 year prison sentence for running a Ponzi scheme.
Prosecutors say Wady lured investors into his scheme with promises of high returns and the chance to be involved in the [...]
Accounting Firm Sued In Ponzi Scheme Case
Posted by admin in Fraud Recovery, Legal Malpractice on November 19, 2011
by Brian Mahany
Here is a new twist. A hedge fund sues an accounting firm for its failure to uncover a Ponzi scheme operated by one of the hedge fund’s traders. That might sound farfetched, but its not. New York accounting firm Rothstein Kass was sued by two hedge fund managers in San Francisco Superior Court [...]
Living the Life of Luxury… While Investors Suffer
Posted by admin in Fraud Recovery on November 12, 2011
by Brian Mahany
The SEC has taken on another Ponzi scheme, this one operating in Costa Mesa, California. The SEC says that Jerry Aubrey ran an “$11 million boiler room fraud that victimized more than 200 investors.” Operating through a company called Progressive Energy Partners, Aubrey solicited investors for oil and gas investments. Instead of drilling [...]
$200 Million Ponzi Scheme Targeted Orthodox Jewish Community
Posted by admin in Fraud Recovery on November 7, 2011
by Brian Mahany
Readers of this blog know that we frequently report on religious affinity fraud. Catholics, the Black faith community, and even the Amish have seen multimillion dollar Ponzi schemes and frauds this year. Orthodox Jews are unfortunately no exception. According to a recent press release from the U.S. Attorney’s Office, the feds have indicted [...]
Famous Pianist Charged in Ponzi Scheme - Again!
Posted by admin in Fraud Recovery on October 31, 2011
by Brian Mahany
An acclaimed concert pianist was charged by police with running a multi-million dollar Ponzi scheme according to a published report in the Toronto Globe and Mail. This marks the second time Tzvi Erez has been charged with fraud.
Published reports say that Erez bilked investors, primarily older investors, out of $9 million in a [...]
SEC Obtains Asset Freeze Order Against Massachusetts Based Offshore Hedge Fund
Posted by admin in Fraud Recovery on October 27, 2011
by Brian Mahany
The SEC charged a Massachusetts based offshore hedge fund, Locust Offshore Management LLC and its operator Andrey Hicks with misleading investors. Criminal charges have not yet been filed.
According to the complaint, Hicks told prospective investors that he had two degrees from Harvard. He also claimed to have previously worked at Barclay’s where he [...]
Georgia Bishop Accused in Ponzi Scheme
Posted by admin in Fraud Recovery on October 20, 2011
by Brian Mahany
Just when I say nothing shocks me comes this story from DeKalb County Georgia. Bishop Eddie Long, spiritual leader and pastor of a Georgia megachurch, the New Birth Missionary Baptist Church, was sued in a state court yesterday and accused of participating in a massive Ponzi scheme. The victims? Church parishioners.
While little surprises [...]
Why Hire An Asset Recovery Lawyer? Glad You Asked!
Posted by admin in Fraud Recovery on October 16, 2011
by Brian Mahany
Many of our fraud victim clients come to us late in the game; that is long after they have lost their money. Invariably there are several common themes and reasons for waiting so long.
First, most fraudsters continue to make promises of payments even though the investors’ money is long gone. For the fraudsters, [...]
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