Meet America's Most Wanted White Collar Criminals

Spiro Edward Germenis

Tired of hating Bernie Madoff and Allen Stanford?

Disappointed by the not-guilty verdict of Ralph Cioffi and Matthew Tannin?

Worried Dick Fuld and Jimmy Cayne will never be charged?

Fortunately, we’ve found some new alleged white collar criminals to bear the brunt of your white-collar rage from the FBI’s most-wanted list.

You have plenty of bad apples to choose from. There’s Harold Range, who stole $35 million from 600 LA-area Latino families using a mortgage scam and is likely enjoying a margarita somewhere in Mexico. Or Harris Dempsey Ballow, who duped investors in a $6 million stock scam is probably living it up on the beach in Cancun. And there’s James Stanley Eberhart, who stole $11 million in a telemarketing scam and is probably on his luxury boat, “Infinity.”

SEE A DOZEN OF THE FBI’S MOST WANTED WHITE COLLAR CRIMINALS>

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[slide
permalink=”spiro-edward-germenis-1″
title=”Spiro Edward Germenis”
content=”Occupation: Investment manager

Charged with: $8 million Ponzi scheme

Fun fact: Germenis has scars on his arm

The dirt: Spiro Edward Germenis is wanted for his alleged orchestration of a ‘Ponzi’ scheme, which led to him being charged with violating federal fraud by wire laws in 2007. Germenis established an investment management and advisory business named Oracle Evolution LLC, which was based in Great Neck, New York. He created various hedge funds and expanded his business by attracting new investors through networking groups and personal referrals. Germenis eventually lost substantial sums of money due to poor investment choices, gambling, and the use of his clients’ money to fund a lavish lifestyle. He then allegedly sent his clients falsified financial statements showing excellent investment returns, which led to more investment money from his victims.

The fraud collapsed when one of his largest investors sought to withdraw money from one of the hedge funds. The majority of those doing business with Germenis were middle-class people, and some were senior citizens who invested and lost their entire life savings. Together, more than 20-five victims lost over eight million dollars.

Germenis disappeared in October of 2006. After telling his family that he was going to a baseball game, Germenis drove to JFK Airport in New York and boarded a flight to Athens, Greece. He has not been seen or heard from since.

On September 27, 2007, Germenis was charged with fraud by wire and a federal arrest warrant was issued by the United States District Court, Eastern District of New York, in Brooklyn, New York.”
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[slide
permalink=”james-t-hammes-2″
title=”James T. Hammes”
content=”Occupation: Accountant

Charged with: Stealing $8.7 million from his company

Fun facts: Hammes is an avid scuba diver and a licensed pilot.

The dirt: James T. Hammes is wanted for an alleged fraud scheme he conducted while employed as controller for the Lexington, Kentucky, division of a Cincinnati-based company. As controller, he was responsible for all financial accounting and internal controls for the Lexington division. Between 2004 and 2009, Hammes allegedly deposited approximately $8.7 million of company funds into a bank account in the name of a second company doing business with his employer, but which Hammes had signatory control over.

On February 24, 2009, a federal arrest warrant was issued by the United States District Court, Southern District of Ohio, after Hammes was charged with wire fraud and money laundering.”
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permalink=”harold-rangel-3″
title=”Harold Rangel”
content=”Occupation: Investor

Charged with: $35 million investment scam

Fun fact: He’s only 5’6”

The dirt: Harold Rangel has been indicted for bribing a bank officer and falsifying bank records. He is also under investigation for his alleged participation in a high yield investment and mortgage fraud conspiracy that was operating in the Los Angeles area. The scheme targeted approximately 600 Latino families, causing them to invest more than $35 million.

After Rangel failed to appear at a pre-trial hearing, a warrant for his arrest was issued by the United States District Court, Central District of California, on February 11, 2009. A second federal warrant was issued on July 16, 2009, after Rangel was charged with unlawful flight to avoid prosecution.”
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[slide
permalink=”james-stanley-eberhart-4″
title=”James Stanley Eberhart”
content=”Occupation: Telemarketer

Charged with: $11 million telemarketing scam

Fun fact: Eberhart enjoys sailing on board his luxury boat called ‘Infinity.’

The dirt: James Stanley Eberhart is wanted for his alleged involvement in a telemarketing scheme which defrauded website investors out of over $11 million. Between February and October of 1999, Eberhart and several associates owned and operated a telemarketing company, YES Entertainment Network, Inc., in Orange and Los Angeles Counties, California. They purported to have a limited liability company which was in the business of developing and providing an Internet website with access to 18 channels offering video programming in various areas. It is alleged that website investors were promised returns which would be generated from advertisements on the multi-channel family website that was never completed. Over 800 victims throughout the United States reportedly invested amounts as high as $100,000 individually. None of the investors received returns on their investments. Money raised from investors was allegedly used for the personal benefit of the company’s principal employees and telemarketers who sold investments. A substantial amount of the money was transferred to offshore bank accounts in Hong Kong and Singapore.

On December 4, 2002, a federal indictment was filed by the United States District Court, Central District of California, Los Angeles, California, charging Eberhart and others who are no longer at large, with multiple counts of mail fraud and money laundering. Federal warrants remain outstanding for the arrest of Eberhart.”
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[slide
permalink=”harris-dempsey-ballow-5″
title=”Harris Dempsey Ballow”
content=”Occupation: Stock promotion

Charged with: $6 million stock scam

Fun fact: Ballow may be in Cancun or Merida Mexico.

The dirt: Harris Dempsey Ballow is wanted in Texas for allegedly committing several white collar crimes. Beginning in 1998, Ballow caused several companies to be incorporated in Texas, Delaware, and the British Virgin Islands. Thereafter, Ballow allegedly caused the companies to open corporate accounts at various Broker-Dealers through the United States for the purpose of fraudulently acquiring stock and borrowing money on margin.

Ballow traded stock between accounts to give the appearance of significant market activity. The result was an increased demand for the stocks that Ballow was trading, due to the artificial demand he was creating for the stocks. When the overvaluation of these stocks was made public, the price decreased significantly, which led to the Broker-Dealers making margin calls on Ballow’s accounts. In June 1999, the Broker-Dealers discovered that none of the accounts owned by Ballow had the assets or liquidity which had been listed in earlier agreements. As a result, the Broker-Dealers suffered losses of more than 6 million dollars.

Ballow was indicted on January 22, 2003, for a total of 12 counts, which included wire fraud, mail fraud, and money laundering. On September 16, 2003, Ballow pleaded guilty to one count of money laundering. He failed to appear for sentencing on December 14, 2004, and a federal warrant was issued for his arrest on December 17, 2004, in the United States District Court, Southern District of Texas.”
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[slide
permalink=”craig-john-oliver-6″
title=”Craig John Oliver”
content=”Occupation: Home Improvement Sales, Construction, Interior Decorating, Remodeling

Charged with: $2.5 million home improvement scam

Fun fact: His wife, Jennifer Oliver (pictured here), uses the aliases Jennifer Harris, Jennifer Jones, Jennifer Simmons, Jani Sullivan, Janie Sullivan, Millicent Sullivan, and Janie Guidet. But she’s not a fugitive from the law!

The dirt: On October 3, 2005, Craig John Oliver, a convicted felon, plead guilty in the United States District Court, Eastern District of Virginia, to defrauding 68 Virginia and Maryland homeowners of more than $2.5 million. Oliver was released from jail on bond, but violated his release conditions and a warrant was issued for his arrest on December 6, 2005. Oliver failed to appear in court on January 20, 2006 as scheduled, and was sentenced in absentia to 20 years in Federal prison.

The victims were clients of Oliver’s home renovation businesses. From 2002 until 2005, Oliver used fraudulent business licenses and induced clients to make payments for work which was never completed. Oliver is believed to have fled the Fairfax, Virginia area in November of 2005.

Oliver is also wanted for probation violation in 1995 which followed a securities fraud conviction in Arlington County, Virginia.”
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[slide
permalink=”joseph-wayne-mccool-7″
title=”Joseph Wayne McCool”
content=”Occupation: Investment manager

Charged with: $10 million investment Ponzi scheme

Fun fact: McCool has a scar on his right knee and right wrist.

The dirt: Joseph Wayne McCool is being sought for his alleged involvement in a ponzi scheme that was based out of Mesa, Arizona. Sometime before February, 2004, McCool allegedly conspired with two other individuals, who have since been arrested, to operate The Brixon Group, Ltd., which fraudulently solicited millions of dollars from the public. McCool solicited and induced members of the public to invest approximately $10 million in Brixon by making fraudulent and misleading representations concerning how the money would be used, the rates of return, the security of the investments, and their own qualifications to conduct such investments.

Reportedly, McCool promised investors that their money would be invested in European investment programs and used as reserves for high-yield insurance company portfolio investments. Investors were told that Brixon would generate returns of 10 per cent per month. Investors were also falsely promised that they could not lose their principal investment because the principal was insured by the State Bar of California. Furthermore, McCool was represented to investors as a banking expert who successfully managed a large private trust in Europe before operating Brixon.

Additionally, McCool reportedly failed to disclose to investors that he did not invest money for the benefit of the investors; instead, he allegedly converted a substantial portion of the invested money for personal use and used new funds received by Brixon to make payments to earlier investors. Additionally, investors’ money was never insured against loss. When Brixon failed to make promised payments to investors, McCool responded by telling investors that the money was tied up in Europe due to the United States Patriot Act and various international banking problems.

On May 11, 2006, a federal arrest warrant was issued by the United States District Court for the Southern District of California after McCool was charged with conspiracy to commit wire fraud and wire fraud. Additionally, McCool may be in the Philippines.”
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[slide
permalink=”fernando-grijalva-8″
title=”Fernando Grijalva”
content=”Occupation: Businessman

Charged with: $3 million embezzlement

Fun fact: He likes Las Vegas

The dirt: Fernando Grijalva is wanted for allegedly embezzling over $3 million while working for a subsidiary of a multibillion dollar company, in Boca Raton, Florida. The subsidiary purchased computer supplies and equipment, and sold these products to various distributors. From 2002 through 2003, while head of accounts payable for this company, Grijalva allegedly issued fraudulent invoices under the name of a bogus company that he created.

On December 12, 2003, a complaint was filed by the United States Magistrate, United States District Court, Southern District of Florida, charging Grijalva with mail fraud and bank fraud, and a federal warrant was issued for his arrest.

Grijalva is also wanted by local law enforcement authorities in Florida for violating his probation which followed an unrelated charge for grand theft in 2001.”
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[slide
permalink=”yolanda-tolentino-ricaforte-9″
title=”Yolanda Tolentino Ricaforte”
content=”Occupation: Auditor/Bookkeeper, Homemaker

Charged with: Accomplice of former Philippine President, Joseph Ejercito Estrada, who collected tens of millions of dollars in illegal gambling payoffs

Fun fact: She’s diabetic and may need medical attention

The dirt: Yolanda Tolentino Ricaforte is wanted for her alleged involvement in an illegal gambling operation which began in approximately 1998 in the Republic of the Philippines. Ricaforte and an accomplice allegedly were co-conspirators with former Philippine President, Joseph Ejercito Estrada, who collected tens of millions of dollars in illegal gambling payoffs during his 31 months in office. For approximately two years, Ricaforte allegedly audited the collection and disbursement of the illegal payoffs to Estrada, and kept a ledger in which the individuals making payments to Estrada were given aliases. Ricaforte is also accused of opening several bank accounts in her name, which were used to deposit the illegal payoffs. Her accomplice allegedly funneled the payoffs and other unrelated illegal kickbacks to Estrada.

In early 2001, Ricaforte and her accomplice separately fled the Philippines after Estrada was removed from office. In approximately April of 2001, Estrada, Ricaforte, her accomplice, and others were charged in the Philippines with the crime of ‘Plunder,’ which is defined under Philippine law as the accumulation of ‘…ill-gotten wealth through a combination or series of overt or criminal acts….’ Estrada is currently on trial in the Philippines. The Government of the Philippines requested the assistance of the United States Government with the arrest and extradition of Ricaforte and her accomplice.

On November 25, 2001, Ricaforte’s accomplice was arrested in Las Vegas, Nevada. On November 8, 2006, Ricaforte’s accomplice was extradited from the United States back to the Philippines. A warrant was issued for Ricaforte’s arrest on December 6, 2001, pursuant to Title 18 of the United States code, Section 3184, ‘Fugitives from Foreign Country to United States.’ However, Ricaforte’s whereabouts remain unknown.”
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[slide
permalink=”xuyen-thi-kim-nguyen-10″
title=”Xuyen Thi-Kim Nguyen”
content=”Occupation: Unknown

Charged with: $5 million mortgage company fraud scheme

Fun fact: Nguyen became a naturalized citizen in 1999 from Vietnam

The dirt: In May 2005, seven individuals, including Xuyen Thi-Kim Nguyen, were indicted in Dallas, Texas, for their involvement in a scheme to defraud a mortgage company of over $5 million. After four of the seven individuals pleaded guilty, Nguyen was convicted of one count of conspiracy, two counts of mail fraud, and seven counts of fraud by wire. Nguyen was placed on home monitoring until her sentencing. However, some time between November 8, 2005, and November 11, 2005, Nguyen fled from her home in Plano, Texas. Subsequently, a complaint was filed in the Northern District of Texas for failure to appear, and an arrest warrant was issued by the United States District Court on February 3, 2006.”
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[slide
permalink=”john-anthony-porcaro-11″
title=”John Anthony Porcaro”
content=”Occupation: Moving company owner

Charged with: $5 million telemarketing scheme

Fun fact: Porcaro has an artificial right eye

The dirt: John Anthony Porcaro is wanted for his alleged involvement in a South Florida telemarketing scheme which defrauded more than 400 individuals throughout the United States out of more than $5 million. Between February and December of 1998, the Trump Financial Group and the Sheffield Group were doing business as telemarketing firms which obtained money from investors for purported investment in foreign currency options in the foreign exchange markets. It is alleged that investors were promised as much as 700 per cent returns based upon the rise and fall of the value of foreign currencies in relation to the value of the United States Dollar.

Investors rarely, if ever, received returns on their investments and money raised from investors allegedly was used for the personal benefit of the firms’ principal employees and telemarketers who sold investments. A substantial amount of the money also was transferred to offshore bank accounts in the Cayman Islands.

Porcaro is an alleged associate of the Gambino crime family in New York.

On October 21, 2003, a federal indictment was filed by the United States District Court, Southern District of Florida, charging Porcaro, and others who are no longer at large, with multiple counts of wire fraud, mail fraud, and money laundering. A federal warrant remains outstanding for the arrest of Porcaro.”
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[slide
permalink=”leonard-weston-ramey-12″
title=”Leonard Weston Ramey”
content=”Occupation: Ramey may portray himself as a lawyer, a securities stockbroker, an expert in financial marketing, or the owner of a fictitious company.

Charged with: $1 million Ponzi scheme

Fun facts: He is reported to regularly eat breakfast in diners, cafes, and restaurants where he orders Spanish omelettes with a glass of milk. He is able to play the trumpet. Ramey is addicted to gambling and loves playing blackjack and backgammon.

The dirt: Leonard Weston Ramey is an alleged master at utilising a Ponzi scheme in which he uses an assumed name and fictitious occupation. Ramey has been known to befriend his victims and offers them the expectation that he can increase their financial status through investments in the stock market using his fake company. Ramey then generates letters containing account statements and index updates which indicate substantial profits relating to each victim’s individual investments. Ramey is known to research the market, and his letters and index updates tend to reflect current market trends. These schemes generally continue until the victim either requests a withdrawal of a large amount of money from the investment or requests tax forms for income tax filings.

Ramey has been operating since the 1980s, allegedly stealing money from family, friends, and ‘clients’. He has been known to operate in California, Oregon, and Washington. Over the years, law enforcement agencies have documented incidents in which victims have given Ramey almost one million dollars to invest. At various times, Ramey is known to have utilized multiple aliases and operated under multiple fictitious company names, including ‘Radcliff, Jenson, and Associates’ and ‘Waldon, Emery, and Associates’.

An arrest warrant for securities fraud and theft in the first degree was issued by the Pierce County Circuit Court, Tacoma, Washington, on June 21, 1989. Ramey was then charged in Clackamas County Circuit Court, Oregon City, Oregon, on September 6, 2002, with multiple counts including racketeering, laundering a monetary instrument, engaging in a financial transaction in property derived from unlawful activity, selling securities without a licence, security fraud, and aggravated theft in the first degree. A federal arrest warrant based on these charges was issued by the United States District Court, District of Oregon, Portland, Oregon, on October 16, 2002, charging Ramey with unlawful flight to avoid prosecution.

Ramey was last seen on October 3, 2002, in Incline Village, near Lake Tahoe, Nevada. He disappeared from that area immediately thereafter.”
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[slide
permalink=”dont-get-burned-too-13″
title=”Don’t get burned too”
content=”The SEC’s Top 10 Tips For Avoiding Financial Fraud.
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