NASCAR DAD Robert Allen Stanford : Fraud ?
Texas billionaire Robert Allen Stanford, bilked 30,000 investors out of over $7 billion in a fraud scheme. Another massive Ponzi scheme. Criminal conspiracy and fraud. 80% of his banks investment port... Posted on 7/17/09 at 10:25 AM
FARGO — A former Fargo investment broker pleaded guilty Monday in Cass County District Court to 16 felony charges in what a state investigator described as a Ponzi scheme that bilked 19 people out of at least $935,000.
Beyond stating “guilty” as he pleaded to the charges, Robert Medhus, 65, made no statement in the hearing before Judge Frank Racek.
INDIANAPOLIS (AP) — Karen and Fred Lamb tried to do their homework before investing their savings in an Indiana company’s fund to help churches build or expand. After talking with church friends and checking out Alanar Inc. on the Securities and Exchange Commission’s website, they decided the firm’s goals and beliefs meshed with their own.
The sentencing date for Minnesota businessman Tom Petters has been pushed back once again, this time to April 8.
Petters was convicted in December of orchestrating a $3.65 billion Ponzi scheme. His sentence is expected to be anywhere from 30 years up to life in prison.
It was a rough year for Ponzi schemes. In 2009, the recession unraveled nearly four times as many of the investment scams as fell apart in 2008, with ``Ponzi' becoming a buzzword again thanks to the collapse of Bernard Madoff's $50 billion plot.
A judge on Wednesday appointed an attorney to represent a man accused of bilking investors out of millions of dollars in an alleged Ponzi scheme, saying the man should not represent himself while he searches for a lawyer.
Neville Solomon, 66, of Georgetown, Guyana, has pleaded not guilty to four counts, including wire fraud and conspiracy to defraud the United States. The case dates back nearly a decade, when North Dakota officials started getting questions from people who had been solicited as potential investors in bank programs that promised high returns risk-free.
By Dave Kolpack, The Associated Press
, July 16, 2009
U.S. and British investigators have joined Austrian prosecutors in examining possible ties between a Vienna fund manager and disgraced financier Bernard Madoff, whose multibillion-dollar Ponzi scheme wiped out thousands of investors and charities worldwide, an official said Monday.
A Minot man has been ordered to prison for five years for conducting what a judge called a kind of a Ponzi scheme.
Stephen James Edwards was facing 28 felony charges and 20 misdemeanor charges. He ran a used car business and his adults-only bar in downtown Minot.
Hall of Fame pitcher Sandy Koufax. Broadcaster Larry King. World Trade Center developer Larry Silverstein.
All three have at least one thing in common: Their names appear on a list of several thousand clients of disgraced financial wizard Bernard Madoff. The list has been made public in a court filing in U.S. Bankruptcy Court in Manhattan.
February 06, 2009
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