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In May 2012, Joseph Blimline was sentenced to 20 years in federal prison for operating two oil and gas Ponzi schemes. He operated a Ponzi scheme from 2003 to 2005 in Michigan, netting over $28 million. He then operated a Ponzi scheme in Texas, using a company called Provident Royalties, that lasted from 2006 to 2009 and netted over $400 million ...
Peregrine Systems [8] [10] corporate executives convicted of accounting fraud; Phar-Mor [8] company lied to shareholders. CEO was eventually sentenced to prison for fraud and the company eventually became bankrupt; Qwest Communications [10] RadioShack CEO David Edmondson lied about attaining a B.A. degree from Pacific Coast Baptist College in ...
Charles Ponzi (1882–1949): Italian swindler and con artist; "Ponzi scheme" is a type of fraud named after him. [14] Soapy Smith (1860–1898): American con artist and gangster in Denver and Creede, Colorado and Skagway, Alaska, in the 1880s and 1890s [15]
A South Florida woman is being sentenced to 20 years for leading a $190.7M Ponzi scheme — victims were ‘blindsided’ and ‘devastated.’ Here’s how it worked and how to spot similar scams.
List of Ponzi schemes; 0–9. 1040 Sunshine Project; A. Adarsh Credit Cooperative Society ... Allied Deals Inc. Aman Futures pyramid scam case; Amber Gold (company ...
Charles Ponzi, the namesake of the scheme, in 1920. A Ponzi scheme (/ ˈ p ɒ n z i /, Italian:) is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors. [1]
Wisconsin consumer protection officials said the scammers are falsely claiming to have damaging video recordings or other personal information. Wisconsin officials warn of scam emails threatening ...
The bank shared its suspicion with U.K. regulators that Madoff was running a Ponzi scheme but failed to mention it to regulators in the United States. Over the next six years, JPMorgan Chase would admit to three more criminal felony counts while keeping the same Chairman and CEO, Jamie Dimon, in place. (ref 1.1) Louisiana Pacific