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Exotic Vacations, Tattoo Parlor Paid with Investors Money: Broker Charged with Fraud
February 22, 2012 No Comment
GLENCOE – Illinois resident Kenneth A. Dachman was charged with securities fraud and the misappropriation of more than $1.8 million in investor funds. Dachman perpetrated his fraud by making false statements that misled investors as far as offerings in his companies were concerned, according to the Securities and Exchange Commission. Dachman was the Chairman of […]
Continue reading …Irvine Financial Advisor Accused of Theft of Client Money, Funds Used to Pay Daughter’s Private School Tuition
February 22, 2012 No Comment
IRVINE – The Securities and Exchange Commission has charged Brenda A. Eschbach with investment advisory fraud and securities fraud. The SEC accuses Eschbach with being involved in multi-year misappropriation of client funds. Eschbach, who hails from Tustin, California, has been acting as an unregistered broker, and has allegedly misappropriated $3 million in investment advisory client […]
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CHICAGO – U.S. District Judge David Herndon sentenced 58 year old Victoria McGee-Harris, a licensed insurance agent and securities broker operating from Swansea, to 17 ½ years in federal prison on charges of wire fraud and money laundering. McGee-Harris, who sold annuities and other financial instruments for MetLife, charmed over 50 investors, mostly elderly and […]
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St. George businessman and philanthropist Jeremy Johnson has been accused of defrauding online consumers and trying to siphon away $51.4 million and hide it from the Federal Trade Commission, which is in the process of investigating Johnson’s company called I Works. Johnson earned this money mainly through processing online poker payments and Johnson is known […]
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Michael Joseph Krzyzaniak, 63, has been sentenced to 151 months in prison, the maximum allowed, for having scammed investors of $26 million. Krzyzaniak, a Twin Cities man was sentenced in federal court in Minneapolis. He perpetrated this scam by claiming celebrity endorsement. One of the celebrities in question here was pro golfer Phil Mickelson. Krzyzaniak […]
Continue reading …Scammer Steals Money from 82-Year Old Woman, Other Senior Citizens to Pay for Porsche, Luxury Mansion
February 13, 2012 No Comment
STATEN ISLAND – New York businessman Joseph Mazella drove a Porsche, lived in an opulent mansion, and was a successful real estate businessman. At least, that’s what he wanted his victims to believe, so he could more easily part them from their money. Among his victims were many unsophisticated senior citizens, including an 82-year old […]
Continue reading …Wall Street Bankers Who Made Billions from the Foreclosure Crisis Trying to Buy Their Way Out of Criminal Prosecutions
February 10, 2012 No Comment
WASHINGTON – Major banks that reached the $25 billion settlement with government officials have attempted to negotiate a deal where federal and state prosecutors agree not to press criminal charges against them. Several state and federal prosecutors have balked at this agreement. Banks cannot buy their way out of criminal charges for fraudulent or abusive […]
Continue reading …Cleveland Con Man Pleads Guilty to $31 Million in Profits in Nation’s Largest Mortgage Fraud Case
February 9, 2012 No Comment
CLEVELAND – County prosecutors exposed what they claim to be the nation’s largest mortgage fraud case, involving over 500 real estate transactions and fraudulent loans of $44 million. Uri Gofman, 39, a Beachwood resident accused of being the mastermind behind the scheme, pled guilty to fraudulent mortgages that resulted in $31 million in profits. Gofman […]
Continue reading …Seattle Scammer’s Yachts, Planes, Opulent Lifestyle Financed with Stolen Money (Pictures)
February 9, 2012 No Comment
Seattle Ponzi schemer Darren Berg knew how to live large. He owned an opulent, waterfront mansion on Mercer Island, complete with docks where he moored his boats. One of his boats was a 53-foot yacht. The mansion cost Berg $5.5 million. He spent an additional $5 million to remodel it. On top of this, Berg […]
Continue reading …HOUSTON – Fallen financier Allen Stanford’s trial is unveiling the details of his alleged $7 billion fraudulent investment scheme. Stanford’s minions described how the attempts to hide the red flags surrounding the former Texas tycoon’s alleged scheme grew increasingly desperate as federal investigators closed in on him. James M. Davis, who was Stanford’s former chief […]
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