Reported by Michael Katz The “shadow” CEO of a New Jersey real estate investment firm has pleaded guilty to defrauding more than 2,000 investors of more than $650 million through a Ponzi scheme while also conspiring to evade tens of millions of dollars in taxes. The U.S. Attorney’s Office for the District of New Jersey […]
Reported by SETH MOREHEAD Fort Worth-based Agridime LLC has been put into receivership by a successful complaint from the Securities and Exchange Commission (SEC). The SEC obtained a temporary restraining order, an asset freeze, the appointment of a receiver, and other emergency relief against Agridime on December 14, alleging an ongoing $191 million Ponzi scheme raised from more than 2,100 investors in […]
Reported by USAO – New York, Southern Damian Williams, the United States Attorney for the Southern District of New York, Attorney General Merrick Garland, and Assistant Attorney General Kenneth A. Polite of the Justice Department’s Criminal Division, announced today that the Madoff Victim Fund established by the Department of Justice began its eighth distribution to […]
Reported by: CHLOE TAYLOR Cryptocurrencies are dangerous “Ponzi schemes” that put billions of dollars at risk every year, JPMorgan CEO Jamie Dimon declared in a scathing review of the volatile digital assets. In congressional testimony on Wednesday, Dimon referred to himself as “a major skeptic” on cryptocurrencies like Bitcoin. “They are decentralized Ponzi schemes, and […]
Reported by: Richard Nalley According to a study by industry group ABL (American Beverage Licensees), wine fraud today is an estimated $9 billion a year global problem, costing thousands of legitimate industry jobs and depriving governments of billions in tax revenues. The criminal activity encompasses Ponzi schemes, burglary, bank fraud, con jobs, smugglers, mysterious warehouse […]
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