scam
“Amish Bernie Madoff” Money Manager Gets Light Sentence for Fraud
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 […]
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 […]
Continue reading …Orlando Man Gets Seven Years In Jail For Bilking Elderly Victims Of $789,000
March 21, 2012 No CommentAsheville, NC – United States District Judge Martin Reidinger sentenced Orlando-based Terry Scott Hyder, 51, to federal imprisonment of seven years after Hyder pled guilty to charges of wire fraud, according to a joint announcement by U.S. Attorney Anne M Tompkins and Special Agent in Charge of the FBI, Chris Briese. The defendant was also […]
Continue reading …
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 …
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 […]
Continue reading …
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 […]
Continue reading …
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 […]
Continue reading …
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 …
