He has a college degree and has worked as a teacher and in a hospital. Onsa was indicted in November 2010. His scheme was based on telling investors that their retirement funds would be used to.
And more recently, just last month on December 13, the SEC charged Hector May, a former New York investment advisor (based in Rockland County) and his daughter Vania Bell with a Ponzi scheme, which.
Nearly 30 victims of a thieving Brooklyn money manager dubbed the “Bernie Madoff of Bay Ridge” filed a $36.1 million lawsuit against the banks he used to pull off the decades-long scam. Victims of.
Scam artists are using self-directed individual retirement accounts (iras) to increase the appeal of their fraudulent schemes. state securities regulators have investigated numerous cases where a self-directed IRA was used in an attempt to lend credibility to a bogus venture.
"A hallmark of a Ponzi scheme is that at least some of the returns to some of the investors come not from legitimate gains from the investment, but they come from other investors," Alonso said.
A .2 billion ponzi scheme case stretching from South Florida. Among the more than 8,400 victims are 700 in Florida, including a retired U.S. Marine Corps colonel, a college art teacher and a.
11, 2018, shall mark the 10th anniversary of the Madoff Ponzi scheme being revealed to. and oversight needed for the securities and banking industries, as well as whether, and to what extent,
However, no real investment is made by the criminal. Instead, Ponzi schemes, named after 1920’s postage stamp speculator-fraudster Charles Ponzi, are scams in which early “investors’-often friends, colleagues, and family members-are asked to invest in a.
Stanley funded his lavish lifestyle creatively — with a successful Ponzi scheme and real estate scam that raised nearly $4 million. and antifraud provisions of the federal securities laws. stanley.
Emergency Action Filed Against Dallas-Area Investment Promoter . Aug 15 2016. used investor funds to perpetuate a Ponzi scheme and pay personal expenses from July 2015 through January 2016.. the Northern District of Georgia in April 2016 enjoined Credit Nation from violating anti-fraud provisions of federal securities laws and placed the.
A Peabody company has been charged with violating the state’s securities laws, according to Massachusetts Secretary of State William Galvin.. the classic hallmark of a Ponzi scheme," the.