fraud
Former LSD Bishop Accused of Defrauding Church Members
A former bishop in the Church of Jesus Christ of Latter-Day Saints (“LDS”) was accused of defrauding members of his congregation or investors whom he met through his position in the LDS church. Chad Bennett Reid, 57, of South Ogden, was criminally indicted for securities fraud and engaging in a pattern of unlawful activity. The […]
Michael D. Montgomery, a former stockbroker and investment advisor in Colorado and Washington state, was sentenced to five years in federal prison for stealing over $1 million from his clients. Montgomery, 44, was a licensed stockbroker in Tacoma, Washington up until 2009. He later moved to Aspen, where he passed himself as a successful […]
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The defunct legal powerhouse Dewey & LeBoeuf was a Ponzi scheme, according to a former senior partner of that law firm. Henry Bunsow, Dewey’s former IP partner, filed a lawsuit against the firm, accusing it of fraud. The lawsuit casts a light upon the notoriously secretive world of elite global law firms and their compensation […]
Continue reading …YOUNGSTOWN, Ohio — The penalty for stealing $17 million from 2,700 victims and wiping out their life savings is only 6 1/2 years of prison, according to the sentence recently imposed – or perhaps more accurately said, gifted – by a U.S. District Court to Monroe Beachy of Ohio. Six-and-a-half years of prison for $17 […]
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George Tannous, a former IRS agent has been given a three year prison sentence for his part in an investment scheme that conned victims of more than $8 million. Tannous entered a guilty plea in 2008 after his firm, Bidbay.com helped bilk money from investors. His guilty plea is for 1 count of conspiracy and […]
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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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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