Ponzi Scheme News

Yusaf Jawed, Grifphon Asset Management, LLC., Grifphon Holdings, LLC and Robert P. Custis – Florida Hedge Fund Fraud and Misrepresentation Litigation Attorney

Published on: September 22, 2012 | By Russell L. Forkey, P.A.

Securities and Exchange Commission v. Yusaf Jawed, Grifphon Asset Management, LLC, Grifphon Holdings, LLC, and Robert P. Custis, Civil Action No. 12-1696 (U.S. District Court for the District of Oregon, filed September 20, 2012)

Securities and Exchange Commission v. Jacques Nichols, Civil Action No. 12-1698 (U.S. District Court for the District of Oregon, filed September 20, 2012)

Securities and Exchange Commission v. Lyman Bruhn, Pearl Asset Management, LLC, and Sasquatch Capital Management, LLC, Civil Action No. 12-1697 (U.S. District Court for the District of Oregon, filed September 20, 2012)

Angelo A. Alleca and Summit Wealth Management, Inc. – Florida Fund of Funds Fraud and Misrepresentation Attorney

Published on: September 20, 2012 | By Russell L. Forkey, P.A.

SEC Charges Atlanta-Based Adviser with Operating Ponzi-Like Scheme Involving Private Investment Funds

September, 2012:

The Securities and Exchange Commission recently announced charges against a private fund manager and his Atlanta-based investment advisory firm for defrauding investors in a purported “fund-of-funds” and then trying to hide trading losses by creating new private funds to make money to pay back the original fund investors in Ponzi-like fashion.

Deer Hill Financial Group and Stephen B. Blankenship – Florida Investment Theft and Conversion Attorney

Published on: September 14, 2012 | By Russell L. Forkey, P.A.

SEC Charges Connecticut-Based Broker With Stealing Investor Funds to Pay Mortgage and Shopping Bills

September, 2012:

The Securities and Exchange Commission recently charged a broker and his company based in Danbury, Conn., with stealing at least $600,000 from customers who he persuaded to withdraw money from their brokerage accounts he managed at other firms and instead invest with him directly.

Commodities Online LLC, Commodities Online Management LLC, James C. Howard III, Louis N. Gallo III and Michael R. Casey – Florida Ponzi Scheme, Investment and Securities Fraud Attorney

Published on: September 5, 2012 | By Russell L. Forkey, P.A.

SEC Charges Attorney and Two Other South Florida Residents in $27.5 Million Investment Fraud

September, 2012:

The Securities and Exchange Commission recently charged an attorney and two others living in South Florida for their roles in a $27.5 million investment scheme that led investors to believe they were purchasing securities consisting of “pre-sold” commodities contracts with a pre-determined profit. However, the supposed profits actually distributed to investors were largely taken from other investors’ funds.

Jeffrey L. Mowen – South Florida – Ponzi Scheme Fraud and Misrepresentation Attorney

Published on: August 28, 2012 | By Russell L. Forkey, P.A.

SEC v. Jeffrey L. Mowen, et al., Case No. 2:09-cv-00786-DB/PMW (D. Utah)

August, 2012:

CONVICTED PONZI SCHEME OPERATOR JEFFREY L. MOWEN ORDERED TO PAY OVER $18,000,000 IN SEC ACTION

Ricardo Bonilla Rojas and Shadal Yire – Ponzi Scheme Florida Fraud and Misrepresentation Attorney

Published on: August 22, 2012 | By Russell L. Forkey, P.A.

SEC Brings Charges in Puerto Rico-Based Ponzi Scheme Targeting Evangelical Christians and Factory Workers

August, 2012:

The Securities and Exchange Commission recently charged a Puerto Rico resident and his company with conducting a Ponzi scheme that targeted evangelical Christians and factory workers in Puerto Rico.

Jim Donnan, Gregory Crabtree and GLC Limited – Ponzi Scheme Boca Raton, Florida Fraud and Misrepresentation Attorney

Published on: August 18, 2012 | By Russell L. Forkey, P.A.

SEC Charges College Football Hall of Fame Coach in $80 Million Ponzi Scheme

August, 2012:

The Securities and Exchange Commission recently announced fraud charges against a former college football coach who teamed with an Ohio man to conduct an $80 million Ponzi scheme that included other college coaches and former players among its victims.

Paul Burks and Rex Venture Group – Investment Contract Florida Fraud and Misrepresentation Attorney

Published on: August 18, 2012 | By Russell L. Forkey, P.A.

Investment Contract – Ponzi Scheme

August, 2012:

The Securities and Exchange Commission recently announced fraud charges and an emergency asset freeze to halt a $600 million Ponzi scheme on the verge of collapse. The emergency action assured that victims can recoup more of their money and potentially avoid devastating losses.

Bridge Premium Finance LLC., Michael Turnock and William Sullivan – Central Florida Promissory Note Ponzi Scheme Investment Fraud Attorney

Published on: August 15, 2012 | By Russell L. Forkey, P.A.

SEC Halts Denver-Based Ponzi Scheme

August, 2012:

The Securities and Exchange Commission recently announced fraud charges and an emergency asset freeze against a Denver-based company and two Colorado residents carrying out a $15.7 million Ponzi scheme harming more than 120 investors nationwide.

Avanti Capital Partners, LLC., Highland Residential, LLC. and Ivan Wade Brown – South Florida Investment Fraud Attorney

Published on: August 14, 2012 | By Russell L. Forkey, P.A.

Securities and Exchange Commission v. Avanti Capital Partners, LLC, et al, Civil No.: 2:12-cv-788-BCW (USDC Utah, Filed August 13, 2012).

August, 2012:

SEC CHARGES HOME AND CONSTRUCTION LOAN COMPANIES AND THEIR PRINCIPAL WITH OFFERING FRAUD