John Woods allegedly preyed upon elderly retirees and told them he could guarantee returns of 7% as part of the scheme, the SEC said.
Ruja Ignatova, the cofounder of the now-defunct OneCoin, is wanted by the FBI for allegedly running a $4 billion Ponzi scheme.
According to the SEC, Jonathan P. Maroney ran a Ponzi scheme through his company, Harbor City Capital, and used investor money to fund his lifestyle.
Madoff used his business to attract investors, who were then recommended to bring in new clients and drive the biggest Ponzi scheme in US history.
The SEC accused actor Zachary Horwitz of a Ponzi scheme where he lied to investors that he had deals to sell film rights to Netflix and HBO.
Victims of Bernard Madoff’s Ponzi scheme said the 81-year-old should remain behind bars after he asked a federal judge to grant him “compassionate release” from his 150-year prison sentence. Madoff told the judge that he has 18 months to live, and he wants to salvage his relationship with his grandchildren […]
The couple accused of scamming Warren Buffett and other investors pleaded guilty to money laundering and conspiracy charges on Friday. Jeff and Paulette Carpoff splurged at least $US140 million in investor cash on dozens of luxury properties and more than 150 cars including a $US1 million Mustang. Buffett’s Berkshire Hathaway […]
Bitcoin tumbled 7% in three days to trade below $US6,700. A billion-dollar Ponzi scheme, miners cashing out, and this trading could be responsible, experts said. The biggest cryptocurrency skyrocketed from about $US4,000 at the start of the year to almost $US13,000 in June, but has nearly halved in price in […]
Age: 62 Family: Markopolos is married to Faith Markopolos, who also works in the financial industry. They have three sons. Where is he from: He’s from Eerie, Pennsylvania. He’s the oldest of three children, and his parents, Georgia and Louis Markopolos, ran Greek-American restaurants. Career: Markopolos started his career on […]
Bernie Madoff, the notorious Ponzi schemer, has asked President Trump to reduce or commute his 150-year prison sentence, of which he has served a decade. Madoff, 81, is currently imprisoned in a federal medical center in North Carolina. During his presidency, Trump has only granted 10 pardons and commuted four […]
The couple accused of fleecing Warren Buffett’s Berkshire Hathaway as part of an $US800 million “Ponzi-type” scheme used money from the scam to buy at least 90 vehicles, according to federal investigators. Jeff and Pauline Carpoff bought two Jaguars, two Bentleys, a Cadillac, a boat, a luxury motorhome, and a […]
Warren Buffett may have inadvertently helped fund the lavish lifestyle of a couple as part of what the FBI calls an $US800 million “Ponzi-type” scheme, according to Bloomberg. Buffett’s Berkshire Hathaway conglomerate invested $US340 million in DC Solar. DC Solar ‘s owners Jeff and Paulette Carp off allegedly splurged millions […]
An alleged Ponzi scheme operator was ordered to pay $US1 billion by a Florida federal court on Monday for defrauding 8,400 investors. In December 2017, the SEC charged the company and other defendants with operating a $US1.2 billion scheme that defrauded 8,400 individual investors, many of whom were elderly. The […]
Federal prosecutors have charged three men in connection with an alleged $US364 million Ponzi scheme that could have more than 400 victims nationwide. The men were indicted on charges of conspiracy, wire fraud, identity theft, and money laundering. The indictment alleges that the three men took $US73 million of investors’ […]
In the blockchain industry, scams and bad actors are so prevalent that it’s been nicknamed “the Wild West.” With so many prospective investors hoping to cash in on the next blockchain windfall, many have attempted to turn a profit by promoting fake projects. The scams often involve would-be founders taking […]
The US Securities and Exchange Commission has filed charges against Robert Shapiro, alleging he bilked investors – many of them senior citizens – out of $US1.2 billion as part of a Ponzi scheme. The SEC says it has frozen all remaining assets as it pursues its case, which includes charges […]
Bernie Madoff was convicted in the largest Ponzi scheme in history 10 years ago. According to researchers at Cornell University, the aftershock of Madoff’s crimes caused $US363 billion in withdrawals from investment funds unrelated to him. Many people who pulled their money suspected that their advisers were also fraudulent. Bernie […]