Search Results for: ponzi scheme
New York attorney receives 5 years’ imprisonment for Ponzi scheme
May 20th, 2016
‘I don’t want anyone here to think that lawyers are like this. It’s just me.’ A former Skaddens attorney was sentenced to five years in prison yesterday after operating a Ponzi scheme which defrauded around 30 of his friends ...
City of London Police seized £30 million suspected to have been generated in FX markets and Ponzi schemes
April 26th, 2016
A South Wales man has been arrested by the City of London Police in possession of bankers’ drafts worth £30 million in what is believed to be the biggest ever money seizure made by UK law enforcement. The funds ...
MMM Global Closes Republic of Bitcoin, an Alleged Ponzi Scheme
April 13th, 2016
MMM Global has announced that it is closing its Republic of Bitcoin, a website promising up to 100% returns on donations. The company, called a “Ponzi” scheme by many, stated in a blog that the Republic of Bitcoin was an experiment ...
FCA: A sentence of 10 years imprisonment imposed on individual for a “giant Ponzi scheme”
November 25th, 2015
The Court of Appeal has upheld a sentence of 10 years imprisonment imposed on Phillip Harold Boakes following his conviction on 6 March 2015 on charges prosecuted by the Financial Conduct Authority (FCA). Mr Boakes was appealing his ...
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 ...
Texas Man Admits to Bitcoin Ponzi Scheme
September 22nd, 2015
Trendon Shavers pleads guilty to a charge of securities fraud A Texas man admitted Monday to running a bitcoin Ponzi scheme, which at one time controlled about 7% of digital currency in circulation, in what authorities described as the ...
Millenium Capital Exchange CEO Sentenced to Federal Prison for Running Forex Ponzi Scheme
September 3rd, 2015
Stafford S. Maxwell, the former owner and Chief Executive Officer of Millennium Capital Exchange, Inc., was sentenced to three years, nine months years in prison for orchestrating a multi-million dollar foreign exchange market Ponzi scheme. “With false promises of ...
Federal Court Enters Judgment against Ron Earl McCullough and David Christopher Mayhew in Foreign Currency Ponzi Scheme
August 31st, 2015
The U.S. Commodity Futures Trading Commission (CFTC) announced that Senior Judge James C. Fox of the U.S. District Court for the Eastern District of North Carolina entered a default judgment Order against Defendants Ron Earl McCullough and David Christopher Mayhew, both from ...
$76 Million penalties for Forex Ponzi Scheme
August 3rd, 2015
In Related Criminal Actions, Simmons Sentenced to 40 Years’ and Salazar Sentenced to 4.5 Years’ Incarceration and Ordered to Pay in Total $40 Million in Criminal Restitution Both Simmons and Salazar Currently are Serving Their Prison Sentences The U.S. ...
SEC Charges Purported Investment Adviser With Stealing Client Funds and Conducting a Ponzi Scheme
July 17th, 2015
The Securities and Exchange Commission charged a purported investment adviser in San Diego with stealing money from clients for personal use and conducting a Ponzi scheme to pay customers making redemption requests. In a complaint filed in federal court in ...
