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Will MiMedx and Its Hotshot CEO Both Go Down in Flames? — 3/19/2014

Will MiMedx and Its Hotshot CEO Both Go Down in Flames? — 3/19/2014

MiMedx (Nasdaq: MDXG) better hope that its precious leader can work the same kind of magic on the federal judge who will soon decide his fate as he has on the dazzled shareholders who have placed so much faith in his word.

With its treasured C…

by · March 20, 2014 · 0 comments · Uncategorized

Update on Bitcoin Money Laundering Case: Both Defendants Are Talking to the Feds

Update on Bitcoin Money Laundering Case: Both Defendants Are Talking to the Feds

On January 27, 2014, Charlie Shrem and Robert M. Faiella were arrested by F.B.I. agents for allegedly engaging in a scheme “to sell over $1 million in Bitcoins to criminals bent on trafficking narcotics on the dark web drug site, Silk Road.” On March 2…

Agape World Broker Pleads Guilty To Role In $400 Million Ponzi Scheme, Faces Deportation

A former sales agent that received more than $9 million in commissions from pitching investments in Nicholas Cosmo’s $400 million Ponzi scheme has entered into a plea agreement with prosecutors, and may face deportation as a result.  Hugo Arias, 4…

by · March 19, 2014 · 0 comments · Uncategorized

South Carolina Couple Charged With $3.2 Million Forex Ponzi Scheme

The Commodity Futures Trading Commission (“CFTC”) has filed an emergency enforcement action charging a South Carolina couple with operating a foreign exchange Ponzi scheme that raised over $3 million from victims.  Robert and Amy Leben (the “Leben…

by · March 19, 2014 · 0 comments · Uncategorized

Whistleblower Receives $63.8M for JP Morgan FHA Mortgage Fraud Settlement

Keith Edwards, a whistleblower who was terminated in 2008 from his assistant vice-president role at JP Morgan Chase, will receive $63,870,000 award for relating key facts to the government in connection with its investigation of JP Morgan for violations of … Continue reading

Wannakuwatte Arraignment Tomorrow

Wannakuwatte Arraignment Tomorrow

Deepal Wannakuwatte, the Sacramento businessman indicted for allegedly running a $125 million-plus Ponzi scheme through his companies IMG and RelyAid, will be arraigned tomorrow in US District Court. An attorney from Hackard Law will be present at the proceedings. Wannakuwatte’s arraignment is set for 2 PM on the Magistrate calendar. Here is the address for… Continue Reading

Prosecutors Levy Burglary Charges Against Accused ATM Ponzi Schemer

In a novel approach employed by prosecutors, a California man accused of operating an ATM Ponzi scheme that allegedly duped victims out of over $10 million has been charged not only with securities fraud and grand theft charges, but also faces a burgla…

by · March 18, 2014 · 0 comments · Uncategorized

Infomercial King Gets Decade in Prison

Infomercial King Gets Decade in Prison

Kevin Trudeau, the slippery pitchman par excellence you’ve probably spotted on your television screen during late-night bouts of insomnia, won’t have a chance to star in any more infomercials for quite some time. It’s not that the 50-year-old Trudeau is hanging up his hat voluntarily. In a sentence delivered yesterday by Judge Ronald Guzman in… Continue Reading

Florida Man Receives 5-Year Sentence For Exotic Car and Motorcycle Ponzi Scheme

A St. Augustine man has been sentenced to serve the next five years in a Florida prison for operating a multi-million dollar Ponzi scheme that purportedly dealt in exotic cars and motorcycles.  Anthony Robert Fregenti Jr., 42, received the sentenc…

by · March 17, 2014 · 0 comments · Uncategorized

Former Bank of America Banker Sentenced to Prison For $2.1 Million Ponzi Scheme

A New Jersey woman who formerly worked as a personal banker at Bank of America was sentenced to serve at least three years in state prison by a Massachusetts state judge.  Elaina Patterson, 54, was sentenced to serve between three years and five y…

by · March 17, 2014 · 0 comments · Uncategorized