investment fraud
On May 5, 2008, the U.S. Securities and Exchange had filed an emergency criminal action before the United States District Court of Eastern District of Michigan, and succeeded in obtaining orders to freeze the assets of George McKnight and several companies controlled by him. According to the SEC complaint, McKnight raised about $72 million from […]
Continue reading …A Grand Haven Township woman, Lillian VanDenBerg, 83, fell victim to a $9 million Ponzi scheme operated by Jeffrey Ripley of Sparta and Danny Lee VanLiere of Grand Rapids, according to the state Attorney General’s Office. VanDenBerg was one of at least 140 elderly West Michigan residents targeted by the duo. Ripley and VanLiere are […]
Continue reading …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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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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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 […]
Continue reading …A Tale Of Epic Movie Proportions Comes To An End With The Last Guilty Plea
March 13, 2012 No Comment
A San Clemente investment company was involved in a movie scam which saw 9 defendants being charged with fraud. The case has now seen the entry of the last guilty plea from Robert Ramirez. The case involved the defendants raising funds for movies which were not anywhere in the production pipeline. The US Department of […]
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The Ohio Department of Commerce has brought charges of securities fraud against Wayne T.Essex and his three companies – HR Reconciliation LLC, Essex HR & Associates Inc. and Essex and Associates Inc. The complaint also has resulted in Essex and his companies being barred from selling (in any form) securities and interacting with investors. They […]
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Chicago, IL – The U.S. Commodity Futures Trading Commission (CFTC) filed a complaint against a Chicago man, Christopher Varlesi, for operating a fraudulent commodity pool that traded commodity futures and foreign currency contracts. Other charges leveled by the CFTC were misrepresentations to investors, not registering as a commodity pool operator and misappropriating investors’ funds. The […]
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