Search Results for: Ponzi scheme
Individual and his company charged in a commodity futures and Forex Ponzi-Style Scheme
December 21st, 2016
The U.S. Commodity Futures Trading Commission (CFTC) filed a civil anti-fraud enforcement action in the U.S. District Court for the District of Arizona, charging Defendants Derek Springfield and his company, Draven, LLC (Draven), both of Mesa, Arizona, with engaging ...
Former CBOE Member to pay $21.8 Million in a Ponzi Scheme
December 1st, 2016
CFTC Obtains $21.8 Million Default Judgment against Former CBOE Member Alvin Guy Wilkinson and his Connecticut-based Firms for Misappropriation of Customer Funds and Fraudulent Solicitation in Ponzi Scheme The U.S. Commodity Futures Trading Commission (CFTC) announced that Judge Virginia ...
Israeli Man Charged With Operating FOREX Ponzi Scheme
August 4th, 2016
Preet Bharara, the United States Attorney for the Southern District of New York, and Diego Rodriguez, the Assistant Director-in-Charge of the New York Field Office of the Federal Bureau of Investigation (“FBI”), announced today that FADI EWIESS, a/k/a “Fadi ...
Investment adviser to plead guilty to running a $21 million Ponzi scheme
July 7th, 2016
A Rhode Island investment adviser has agreed to plead guilty to criminal charges for orchestrating a $21 million Ponzi scheme, according to a statement from the U.S. Attorney’s Office. Aside from that scheme, Patrick E. Churchville, 47, also used ...
CFTC announced that individual and his companies ordered to pay nearly $17.5 Million for operating a Ponzi Scheme
July 6th, 2016
Garcia Sentenced to 78 Months in Prison and a Forfeiture of over $3 Million in a Parallel Criminal Case Federal Court Orders Nearly $17.5 Million in Sanctions against Naples, Florida Resident Dorian Garcia and his Companies for Solicitation Fraud, ...
UK: Three sentenced to 20 years for defrauding investors over £80m in Ponzi scheme
May 25th, 2016
Three men convicted of defrauding investors out of almost £80m ($116.4m, €104m) in a London-based Ponzi scheme to fund their lavish lifestyles have been sentenced to nearly 20 years in prison. Forty-year-old Jolan Marc Saunders, Michael Dean Strubel, 54 ...
New York attorney receives 5 years’ imprisonment for Ponzi scheme
May 20th, 2016
‘I don’t want anyone here to think that lawyers are like this. It’s just me.’ A former Skaddens attorney was sentenced to five years in prison yesterday after operating a Ponzi scheme which defrauded around 30 of his friends ...
City of London Police seized £30 million suspected to have been generated in FX markets and Ponzi schemes
April 26th, 2016
A South Wales man has been arrested by the City of London Police in possession of bankers’ drafts worth £30 million in what is believed to be the biggest ever money seizure made by UK law enforcement. The funds ...
MMM Global Closes Republic of Bitcoin, an Alleged Ponzi Scheme
April 13th, 2016
MMM Global has announced that it is closing its Republic of Bitcoin, a website promising up to 100% returns on donations. The company, called a “Ponzi” scheme by many, stated in a blog that the Republic of Bitcoin was an experiment ...
FCA: A sentence of 10 years imprisonment imposed on individual for a “giant Ponzi scheme”
November 25th, 2015
The Court of Appeal has upheld a sentence of 10 years imprisonment imposed on Phillip Harold Boakes following his conviction on 6 March 2015 on charges prosecuted by the Financial Conduct Authority (FCA). Mr Boakes was appealing his ...
