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A Grand Haven Township woman, Lillian VanDenBerg, 83, fell victim to a $9 million Ponzi scheme operated by Jeffrey Ripley of Sparta and Danny Lee VanLiere of Grand Rapids, according to the state Attorney General’s Office. VanDenBerg was one of at least 140 elderly West Michigan residents targeted by the duo. Ripley and VanLiere are […]
Continue reading …Clarks Summit Man Accused In $2.1 Million Investor Scam Says He Needs A Lawyer
March 16, 2012 No Comment
Clarks Summit, PA – Frank L Pavlico III, 42, accused of bilking at least 13 victims out of approximately $2.1 million, has applied to the judge handling his case for more time to find a lawyer. As his assets have been frozen by the court, Pavlico said in his request to District Judge Rosemary M […]
Continue reading …Cleveland, OH – Monroe L. Beachy, of Sugarcreek near Columbus, an Amish man charged with defrauding other Amish of nearly $16.8 million, plead guilty of fraud. Beachy, aged 77 years, owner of Sugarcreek-based A&M Investments, has been indicted for falsely promising to make safe investments of about $16.8 million on behalf of nearly 2,700 persons […]
Continue reading …Regulators Bust Conspiracy That Made Over $30 Million in Unlawful Insider Trading Profits
March 15, 2012 No Comment
The SEC announced that it had obtained final judgments on consent against Jason Pflaum and Walter Shimoon in its insider trading case, SEC versus Marc Anthony Longoria. It was the SEC’s complaint in February 2011 that employees and consultants of an ‘expert network’ firm, Primary Global Research LLC, a New York based hedge fund, its […]
Continue reading …Assets of Business Co-Owned by Texas Tech Coach Tuberville Frozen by Regulators
March 15, 2012 No Comment
Based on a civil complaint filed by the U.S. Commodity Futures Trading Commission (CFTC), U.S. District Judge Myron H. Thompson froze the assets and properties of investment companies owned by Auburn businessman John David Stroud and Texas Tech head football coach Tommy Tuberville, until a hearing in the Montgomery U.S. District Court on April 3. […]
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Dayton, OH – Ohio’s Division of Securities obtained an agreed preliminary and permanent injunction against Wayne T Essex and his group of companies, viz. Essex HR & Associates, Inc. of Beavercreek, HR Reconciliation, LLC and Essex and Associates, Inc., both of Dayton, according to a civil case update issued by the Ohio Department of Commerce […]
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Houston, TX – Woodlands-based Kenneth Alfred Scudder was sentenced to 53 months in federal prison for running a Ponzi real estate scheme, according to the U.S. Attorney’s Office in Houston. The scheme conned more than $5 million out of 30 individuals, many of whom were present at the Monday, March 12 sentencing. Five of Scudder’s […]
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Holmdel, NJ – A federal judge sentenced Holmdel-based Robert J Sucarto to imprisonment of 11 years at his sentencing hearing on March 9. Sucarto would spend 132 months in federal prison, spend another three years under supervised release thereafter and must pay restitution of $1,165,280.04. A year ago, 42 year old Sucarto had pleaded guilty […]
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CREVE COEUR, MO – Richard Saunders, who hails from Creve Coeur has been sentenced to 72 months in prison for his Ponzi scheme. Saunders tried to evade the consequences of his actions by running away to Thailand but was brought back. Ironically, Saunders was an IRS employee. He has entered guilty pleas to his role […]
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Henrico County, VA – US District Judge Henry E. Hudson ordered Edward Thomas Menster, 58 to serve almost five years in prison for perpetrating an investment scam. Menster, from Henrico County showed no sympathy for his victims who included parents and senior citizens who have retired from public life. In his scheme, he managed to […]
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