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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 ...
Ponzi schemes sometimes begin as legitimate investment vehicles, such as hedge funds that can easily degenerate into a Ponzi-type scheme if they unexpectedly lose money or fail to legitimately earn the returns expected. The operators fabricate false returns or produce fraudulent audit reports instead of admitting their failure to meet ...
Get-rich-quick schemes are extremely varied; these include fake franchises, real estate "sure things", get-rich-quick books, wealth-building seminars, self-help gurus, sure-fire inventions, useless products, chain letters, fortune tellers, quack doctors, miracle pharmaceuticals, foreign exchange fraud, Nigerian money scams, fraudulent treasure hunts, and charms and talismans.
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.
Scott W. Rothstein, disbarred lawyer from Ft. Lauderdale, Florida; perpetrated a decades long Ponzi scheme, until caught in 2009, which defrauded investors of over $1 billion [51] S Michael Sabo , best known as a check, stocks and bonds forger; became notorious from the 1960s through to the 1990s as a "Great Impostor" with over 100 aliases ...
Melissa Louise Caddick (née Grimley; born 21 April 1971 [2] – disappeared 12 November 2020, declared deceased 2023) was an Australian woman who disappeared in November 2020 amid an investigation by the Australian Securities & Investments Commission (ASIC) for carrying on a financial services business without holding an Australian Financial Services (AFS) licence. [3]
The ultimate victim of a real estate Ponzi scheme mastermind, who allegedly defrauded millions of dollars from his clients, could turn out to be his own wife of 38 years. The lesson for homeowners ...
More than a year after the Ponzi scheme ended, a more than $3 million judgment was obtained by the U.S. Securities and Exchange Commission against Motty Mizrahi and the brothers’ company ...