Search Results for: Ponzi scheme
Beware: Emergency Order against Ponzi scheme targeting hundreds of investors
May 23rd, 2019
The Securities and Exchange Commission (SEC) has issued an announcement to inform that it has obtained a court order halting an ongoing $30 million Ponzi scheme targeting more than 300 investors in the U.S. and Canada. The SEC complaint ...
Ponzi Scheme ordered to pay $1 billion in penalties
January 30th, 2019
The Securities and Exchange Commission announced that a federal court in Florida ordered Woodbridge Group of Companies LLC and its former owner to pay $1 billion in penalties and disgorgement for operating a Ponzi scheme that targeted retail investors. ...
$85 million ponzi scheme shuts down
May 3rd, 2018
The Securities and Exchange Commission announced the unsealing of fraud charges against a Mississippi company and its principal who allegedly bilked at least 150 investors in an $85 million Ponzi scheme. The defendants agreed to permanent injunctions, an asset ...
Charges against a $1.2 billion Ponzi scheme targeting thousands of investors
December 22nd, 2017
The Securities and Exchange Commission today announced charges and an asset freeze against a group of unregistered funds and their owner who allegedly bilked thousands of retail investors, many of them seniors, in a $1.2 billion Ponzi scheme. SEC ...
SEC charges two men for running a Ponzi scheme with money raised from investors
January 30th, 2017
The Securities and Exchange Commission today announced fraud charges against two New York City men accused of running a Ponzi scheme with money raised from investors to fund businesses purportedly created to purchase and resell tickets to such high-demand ...
A controversial Russian Ponzi scheme is betting on Bitcoin to relaunch in Nigeria
January 12th, 2017
A month after it suspended operations in Nigeria, Mavrodi Mondial Moneybox (MMM), a Russian Ponzi scheme with over 2 million participants in Africa’s most populous country, is already plotting its comeback. MMM claimed it had to temporarily close operations ...
Man arrested for an allegedly $300 million Forex Ponzi scheme scam
January 4th, 2017
The arrest of a man who allegedly peddled a $300 million (Dh1.1 billion) Ponzi scheme as a foreign currency trading programme has come as a ray of hope for residents, many of whom have lost their entire life’s savings ...
Documents reveal BlackfortFX ponzi scheme scale
October 20th, 2016
Documents from the receivers and liquidators of Arena Capital, whose director Jimmie McNicholl has been charged with running a ponzi scheme, show it received more than $9 million from clients even though no forex trading was undertaken. In their ...
Over $31 Million in penalties for Fraud and Ponzi Scheme Operator
October 21st, 2015
In a Related Criminal Action, John R. Bullar was sentenced to 8 Years 4 Months in Prison and Ordered to Pay over $6 Million in Criminal Restitution The U.S. Commodity Futures Trading Commission (CFTC) today announced that Judge Michael ...
Possible $500,000 Bitcoin Cloud Mining Ponzi Scheme Uncovered
June 8th, 2015
Roughly nine months ago, Bitcoin Foundation Chief Scientist Gavin Andresen made a rather interesting comment on Reddit in which he claimed, “I suspect many will turn out to be Ponzi schemes.” There have been a few cloud mining scams uncovered ...
