investment fraud
Dallas Investment Advisor Charged with Defrauding Her Church and Others
Delsa U. Thomas, a Dallas investment advisor, has been accused of defrauding scores of investors, including her own church, out of $2.3 million, in a fraudulent Ponzi scheme. Thomas, a former stockbroker affiliated with Morgan Stanley, was charged by the Securities and Exchange Commission (“SEC”) with fraudulently raising millions of dollars from scores of investors […]
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 […]
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 […]
Continue reading …Florida Man Who Ran A $14.8 Million Real Estate Ponzi Scheme To Plead Guilty April 5
March 21, 2012 No Comment
Youngstown, FLA – Lakeland-based David L Olson, founder of A&O Companies, a company that defrauded 100 victims in nine states in a $14.8 million Ponzi scam, will plead guilty April 5 before Hon. Benita Y Pearson, Northern District Judge, according to court records. According to the indictment, Olson founded and was president of the A&O […]
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Ronnie Gene Wilson, a former County Councilman with Anderson County has been charged with conning investors to the tune of $70 million. The complaint has been filed against him by the South Carolina securities commissioner. Wilson managed to get people to believe that they were investing in silver but was doing no such thing, according […]
Continue reading …Telson Okhio, president, Ohio Group Holdings Inc., has entered a guilty pleas for his role in wire fraud. Okhio could be facing a maximum sentence of 20 years in prison. Ohio Group Holdings and Okhio have been committing fraud in 2009 when Okhio impersonated an investment advisor. According to the charges filed against him, the […]
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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 …Financial Advisor Fueled His Gambling Compulsion By Bilking Elderly Investors
March 20, 2012 No Comment
Monaca Road, PA – Senior U.S. District Judge Maurice B. Cohill convicted John D Wosotowsky, 51, of Monaca Road, for mail fraud and filing false income tax returns. According to United States Attorney David J Hickton, Wosotowsky was sentenced to 97 months imprisonment and restitution of $2,293,045.66. Wosotowsky worked for Metlife Securities in the capacity […]
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Patrick J. Belzner has been indicted for conspiring to commit wire fraud by a federal grand jury. The Glen Arm, Maryland man has been indicted for his part in a $14 million investment fraud. Belzner also used the name Patrick McCloskey. He, along with this co- conspirator lured investors in with an assurance that their […]
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Robert Cassandro showed no discrimination when he defrauded his own relatives in a real estate Ponzi scheme, according to prosecutors. Cassandro, a Long Island attorney, is accused of scamming $4.6 million from several investors including his own family. He raised the money with an elaborately crafted real estate Ponzi scheme but used the money to […]
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