Ponzi schemes
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 […]
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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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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 […]
Continue reading …Fort Collins, CO – Phillip Trujillo, 62, of Fort Collins, was sentenced by a Larimer County Judge to 12 years in prison for perpetrating an investment fraud of $5.7 million on 70 investors. In January, a Larimer County jury had convicted Trujillo on five counts of securities fraud and one count of theft. During the […]
Continue reading …Previously Convicted Hamilton Man Repeats Similar Investment Fraud of Nearly $2 Million
March 13, 2012 No Comment
Hamilton, MT – Dan Two Feathers, 56, a resident of Hamilton, pleaded guilty to charges of investment fraud, money laundering, conspiracy to commit investment fraud and using stolen property in interstate commerce, in federal court in Missoula. Two Feathers and two other men stand accused of causing a loss of about $800,000 to 11 investors […]
Continue reading …ORMOND BEACH, FL – Tomas Loebel, 57, once owned Daytona Plastix Inc. but today he is in the news for his Ponzi scheme which helped him cheat his own friends of more than $1 million. He was sentenced to 15 years in prison for his scam. Loebel, a businessman from Ormond Beach pleaded no contest […]
Continue reading …St. Augustine, FL – Birkenstock-clad 60-something Lydia Cladek sponsored animal rescue charities to impress her Ponzi scheme victims. Their money went to the dogs and she ended up in a cage in Federal prison. The Florida scamster orchestrated a $100 million pyramid racket named after herself for over ten years, a jury found. She used […]
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 […]
Continue reading …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 […]
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