Tag: ponzi_scheme
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Middle Tennessee Man Indicted in Multi-Million Dollar Crypto Ponzi Scheme
Misam M. Abidi of Nolensville faces 11 federal charges for allegedly running a cryptocurrency Ponzi scheme through Star Credit Holdings, defrauding investors of millions and diverting funds. He is accused of wire fraud, money laundering, and tax offenses.
Politics and GovernmentBusinessLaw EnforcementFederal GovernmentEconomyBankingLegal Misam M. AbidiNolensvilleCryptocurrencyPonzi SchemeStar Credit HoldingsWire FraudMoney LaunderingFBI
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Wausau Man Pleads Guilty to $14.25 Million Wire Fraud and Money Laundering
Stanley Pophal, 64, admitted guilt to wire fraud and money laundering, defrauding 190 investors of $14.25 million. He used the funds to finance a lavish lifestyle, including hundreds of vehicles, in a multi-year Ponzi scheme.
BusinessLaw EnforcementPolitics and GovernmentFederal GovernmentLegalEconomyFinancial Markets Stanley PophalWausauWisconsinWire FraudMoney LaunderingInvestment FraudPonzi SchemeFBI
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Illinois Investment Advisor Indicted on Federal Fraud Charges in Alleged Ponzi Scheme
John Myers, an Illinois investment advisor, faces federal wire fraud charges for allegedly operating a Ponzi scheme through Sterling Capital Investments, LLC, swindling clients with false investment claims. His arraignment is set for June 12.
BusinessLaw EnforcementPolitics and GovernmentEconomyFinancial MarketsFederal GovernmentLegal John MyersPonzi schemeWire fraudChicagoInvestment advisorFederal chargesFinancial FraudFBI
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Second Man Pleads Guilty in $27 Million Ponzi Scheme
Simon G. Outhwaite, Jr. pleaded guilty to wire fraud conspiracy in a $27 million Ponzi scheme involving Peoples Equity Group. He faces up to five years, while co-conspirator Dakota Smith received 188 months for defrauding investors.
Law EnforcementBusinessFederal GovernmentLegalFinancial MarketsEconomy Simon G. Outhwaite, Jr.Peoples Equity GroupPonzi SchemeWire FraudMiami, FloridaFBIDakota Smith
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Mont Belvieu Man Sentenced to 10 Years for $2.1 Million Ponzi Scheme
Carl Channing Spence, 41, received a 10-year federal prison sentence for a $2.1 million Ponzi scheme. He defrauded 19 victims, including friends, by promising high returns on 'meme stocks' but diverted funds for personal use.
BusinessLaw EnforcementEconomyLegalFinancial Markets Carl Channing SpencePonzi schemeWire fraudMont BelvieuInvestment fraudFederal prisonFinancial CrimeFBI
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Former East Bay Financial Advisor Pleads Guilty in $9.5 Million Ponzi Scheme
Former East Bay financial advisor Edwin Emmett Lickiss Jr. pleaded guilty to wire fraud and money laundering, admitting to a $9.5 million Ponzi scheme that defrauded over 93 investors from 1998 to 2024. Sentencing is set for August 2026.
Law EnforcementBusinessPolitics and GovernmentLegalFinancial MarketsFederal GovernmentEconomy Edwin Emmett Lickiss Jr.Ponzi schemeWire fraudMoney launderingOaklandFBIFinancial Crime
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Ohio Investment Manager Gets Nine Years for $10M Crypto Ponzi Scheme
Rathnakishore Giri, 31, of New Albany, Ohio, received a nine-year prison sentence for orchestrating a $10 million cryptocurrency Ponzi scheme. He defrauded investors by falsely promising high returns and continued soliciting funds even after pleading guilty to wire fraud.
Law EnforcementBusinessPolitics and GovernmentLegalEconomyFederal GovernmentFinancial MarketsComputers and Internet Rathnakishore GiriCryptocurrencyPonzi SchemeWire FraudOhioInvestment FraudFBI
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FBI Seeks More Victims in Cleveland Real Estate Ponzi Scheme Indictment
FBI Cleveland is seeking additional victims of Gregory and Danielle Parker, a New Jersey couple indicted for allegedly operating a real estate investment Ponzi scheme in the Cleveland area. The couple promised high returns but used funds for lavish lifestyles…
BusinessLaw EnforcementEconomyFinancial MarketsReal EstateLegal Gregory ParkerDanielle ParkerReal Estate InvestmentPonzi SchemeClevelandFBI ClevelandWire FraudFBI
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Shasta County Man Sentenced to 30 Years for $35 Million Investment Fraud Scheme
Matthew Piercey received a 30-year prison sentence for orchestrating a $35 million investment fraud and witness tampering. He used a Ponzi-like scheme, fled arrest, and attempted to conceal evidence from authorities.
Law EnforcementBusinessPolitics and GovernmentLegalFinancial MarketsFederal GovernmentEconomy Matthew PierceyInvestment FraudWitness TamperingPonzi SchemeShasta CountyFBICrime
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Ukrainian National Extradited to U.S. for $340 Million Ponzi Scheme
Olena Oblamska, a Ukrainian national, has been extradited from Thailand to the U.S. to face charges for her alleged role in the $340 million Forsage Ponzi and pyramid scheme, which defrauded investors globally.
Law EnforcementBusinessWorldScience & TechnologyLegalEconomyComputers and InternetFederal GovernmentAsiaEurope Olena OblamskaForsagePonzi schemeExtraditionThailandWire FraudOregonFBI
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New Jersey Couple Indicted in Cleveland Real Estate Ponzi Scheme
Gregory and Danielle Parker face federal charges for allegedly running a real estate investment Ponzi scheme in Cleveland, defrauding investors by misusing funds and promoting a lavish lifestyle.
Law EnforcementBusinessPolitics and GovernmentLegalEconomyFinancial MarketsSocial Issues Ponzi SchemeWire FraudReal Estate InvestmentClevelandNew JerseyGregory ParkerDanielle ParkerFBI
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Florida Man Sentenced to Over 15 Years for $20 Million Ponzi Scheme
Dakota A. Smith received over 15 years in prison for a $20 million Ponzi scheme involving Peoples Equity Group. He defrauded investors by misrepresenting company ownership and presenting false financial documents, as announced by the U.S. Attorney's Office.
Law EnforcementBusinessPolitics and GovernmentLegalFinancial MarketsEconomyFederal Government Dakota A. SmithPonzi schemeWire fraudPeoples Equity GroupMemphis, TNFBIFinancial crime
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Colombian National Pleads Guilty to $66M Ponzi Scheme
Efrain Betancourt Jr. pleaded guilty to running a $66 million Ponzi scheme through Sky Group USA, misusing funds for personal luxuries. He faces up to 20 years in prison, with sentencing set for August 14.
Politics and GovernmentBusinessLegalColombiaFederal GovernmentFinancial MarketsLaw Enforcement Efrain Betancourt Jr.Sky Group USA LLCPonzi schemeSouthern District of FloridaFinancial FraudFBI MiamiFlorida Office of Financial RegulationFBI