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LAS VEGAS – Mortgage fraud has been in the crosshairs of a nationwide clampdown called Operation Stolen Dreams. As part of this Operation, one of the latest people to be nabbed is Mortgage Fraud Loan Michael Capodici who has been involved in a mortgage fraud scheme for around 1 year between 2005 August and 2006 […]
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LOS ANGELES – Stanley C. Brooks, the former Chief Executive Officer of Brookstreet Securities Corp has been order to pay a $10 million penalty in a securities fraud case. The order was passed by a Los Angeles federal judge, Honorable David O.Carter. The order was passed on the 1st of March this year and follows […]
Continue reading …North Carolina Operator of Phony $3.2 Million Commodity Pool Scheme Charged of Fraud
March 8, 2012 No Comment
Charlotte, NC – Mitchell Brian Huffman, a Charlotte – based operator of a commodity pool scheme that promised high returns using a “proprietary trading program”, has been charged by the CFTC with fraud regarding exchange-traded commodity futures contracts. Huffman, who never registered with the CFTC, solicited an amount of about $3.2 million from about 30 […]
Continue reading …“Phantom” Ford Lauderdale Consultant Accused of Massive Ponzi Scheme Dissapears
February 25, 2012 No Comment
Soft-spoken, well-dressed consultant, George Elia, ran an investment advisory business, International Consultants & Investment Group Limited Corp., that apparently produced returns of 4 to 7 percent a quarter for satisfied clients since 2005, through the purchase and sale of stocks. Used to meeting him for lunch at The Capital Grille restaurant in Fort Lauderdale, little […]
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Renee Marie Brown, 48, an investment adviser from Golden Valley, entered a guilty plea to cheating investors of $1.1 million before the United States District Court Judge, Susan Richard Nelson, in St. Paul. According to her plea agreement, Brown persuaded investors to invest in a limited liability company styled “Investors Income Fund X, LLC”, which […]
Continue reading …John Kinnucan and his firm Broadband Research Corporation from Oregon have been charged with insider trading. The charges have been leveled against them by the Securities and Exchange Commission (SEC). The SEC has filed a civil injunctive action against Kinnucan as part of their ongoing investigation of insider trading. The action has been filed in […]
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Trusting Loan Thituong Nguyen and Lynn Eichenberger proved traumatic for 17 Vietnamese Americans. These victims were allegedly cheated by the two women in $2 million real estate investment fraud scheme. The women worked the scheme in two ways, according to prosecutors. In one plan Nguyen solicited the people by stating she had opportunities for property […]
Continue reading …Insurance Agents Accused of Enlisting Senior Citizens as Straw Men to Perpetrate $100 Million Fraud
February 23, 2012 No Comment
NEW YORK – Michael Binday, James Kevin Kergil, and Mark Resnick have all been indicted of defrauding major insurance companies to the tune of $100 million. The three insurance agents managed to do this by getting the insurance companies to issue life insurance policies to straw buyers when the real owners of the policies were […]
Continue reading …Elk Grove Man Makes $8 Million in Mortgage Fraud Scheme, Will Spend 43 Months Behind Bars
February 23, 2012 No Comment
Gabriel Viramontes, a 49 year old man from Elk Grove, was found guilty of organizing a mortgage fraud scheme. Viramontes was found guilty of perpetrating this fraud on at least 19 homes with loans upwards of $8 million. The sentence of four years and 9 months in prison was handed down by US District Judge […]
Continue reading …Hedge Fund Manager Found Guilty of Fraud in $62 Million Market Timing Scheme
February 23, 2012 No Comment
Hedge fund adviser Pentagon Capital Management PLC (PCM) and Lewis Chester, PCM’s Chief Executive Officer, “egregiously violated” the federal laws and were found guilty of securities fraud by United States District Judge Robert W. Sweet of the Southern District of New York. PCM is based in the United Kingdom. In his opinion issued on February […]
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