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Tag Archives: fraud

North Carolina Man Is Seventh Convicted Of $40 Million Black Diamond Ponzi Scheme

It was announced last week that Bryan Keith Coats of Clayton, North Carolina plead guilty to his role in connection with the Black Diamoind Ponzi Scheme Investigation that resulted in a $40 million investment fraud conspiracy. Coats admitted to one count of conspiracy to commit commodities, securities, and wire fraud and one count of promotional money laundering conspiracy. According to ... Read More »

New Jersey Fraudster Faces A Possible 1,100 Year Sentence

After running an investment fraud scheme and causing at least $200 million in losses, Eliyahu Weinstein was indicted last week with 45 charges. Weinstein has been charged one one count of conspiracy to commit wire fraud, 29 counts of wire fraud, two counts of wire fraud while on pretrial release, one count of bank fraud and 12 counts of money ... Read More »

Commonwealth Temporary Services Owner Sentenced For “One Of The Most Egregious Tax Evasion Schemes”

It was announced on October 26, 2011 that Michael Powers, former owner of Commonwealth Temporary Services, a temporary employment agency, has been sentenced to seven years in prison in “one of the most egregious tax evasion schemes” the sentencing judge had ever come across. The former temp agency apparently ran a $30 million under-the-table payroll scheme and avoided more than ... Read More »

Infant Funeral Scam Hits The Streets Of California

Any scam is a bad scam. But, any scam that uses an infant’s funeral as their backbone is no good, downright horrible and loathsome scam. Californian police announced that a street-corner panhandler scam has swept their streets as a woman and three accomplices attempt to raise money for the funeral of an infant… that doesn’t exist. This scam has been ... Read More »

True Cradle Robbers – Stealing Credit From The Cradle

It’s often not a parent’s first thought to check the credit report of their minor child, however, it may now become a necessity. Not because a child may fraudulently be using credit without their parents’ knowledge but because scammers may have stolen their unused Social Security number and identity. The Better Business Bureau (BBB) put out a warning last week ... Read More »

Nine More Charged In Fraud Of Holocaust Survivor Programs

Charges have been announced against nine more participants in a scheme that defrauded programs that were established to aid survivors Holocaust survivors of of Nazi persecution out of over $57 million. Thus far, 30 have been charged in connection with this scheme and the nine newly announced fraudsters include: Henry Gordin, Genrikh Kolontryrskiy, Viktor Levin, Ella Voskresenskiy, Zlata Blavatnik, Pytor ... Read More »

Another MetLife Employee Strikes Again!

Just a few days ago I reported on how former MetLife employee, Mark Edward Salyer of Tennessee, was responsible for the investment fraud scheme to the tune of $6 million between June of 2005 until June of 2007. Three days later, on October 6, 2011, Pensylvannia resident John Wosotowsky pleaded guilty to two counts (mail fraud and filing a false ... Read More »

Steve Jobs iPad Scam

The world lost a legend five days ago. One of my role models, Steve Jobs. The world has publicly written, tweeted, Facebooked, blogged, vlogged and internally mourned the passing of the former Apple CEO. It’s not only amazing how one man changed the world with one idea but that his passing had lead to such a deep sadness of millions ... Read More »

Father And Son Sentenced For $930 Million Ponzi Scheme

Sometimes the apple doesn’t fall far from the tree. When children are growing up many look up to their parents and imitate them on a daily basis. “When I grow up, I’m going to be just like daddy!” But what happens when your parent is a fraudster? Father, Roberto Torres, former chief financial officer, and son, Alejandro Torres, former accountant ... Read More »

$4.2 Million For Free Internet Download Software?

After a conviction last November following a seven-week trial David Moro was sentenced on October 5, 2011 to 10 and a half years (126 months) in prison for orchestrating and carrying out a $4.2 million broadcasting equipment lease and financing scheme which yielded a loss of more than $3 million to lenders. Moro was convicted of one count of conspiracy ... Read More »

$1 Million Investment Fraud Scheme Could Mean 25 Years In Jail

On Thursday, October 7, 2011 Rober Schroy, of California, pleaded guilty to wire fraud and tax evasion for his role in a $1 million investment fraud scheme. Schroy pleaded guilty to one count of wire fraud and one count of tax evasion. According to filed documents in this case: Schroy said from 2004 through 2009 he solicited people to invest ... Read More »

The Flucker Family Fraud Affair

A family of fraudsters have been sentenced after finding guilt in the connection with a massive “affinity” fraud scheme where around 2,000 victims were swindled out of about $10.7 million. Father, Roy Fluker, Jr., was sentenced to 15 years in prison while his son, Roy Flucker, III and his daughter Ronnanita Flucker each got 8 year sentences after being convicted ... Read More »

Union Hispana Defrauds Multiple Virginia Banks

This just in! ANOTHER person thought it would be a GREAT and SUPER SMART idea to defraud a bank … and it WASN’T! When will people learn? Multiple Virginia banks were defrauded almost $3.4 million by Osvaldo Mercado for submitting fraudulent loans. Mercado was indicted on conspiracy, six counts of bank fraud, two counts of mail fraud, and two counts ... Read More »

A Double Dose Of Commodities Scams In North Carolina

Two completely separate men were charged in two completely separate Ponzi schemes in one completely same city of Charlotte, North Carolina on September 23, 2011. Both defendants plead guilty to commodities fraud. Apparently they both promised victims enormous profits from trading in the Charlotte, North Carolina commodities futures market. Mitchell Brain Huffman was charged with a criminal bill of information ... Read More »

DOE, A Deer? Or DOE, A-Scammed!

On September 3, 2011 a civil lawsuit was filed against George Peterson, Vice President of Kennewick Industrial & Electric Supply (KIE) for allegedly consciously engaging in two schemes including a kickback and fraud scheme. These schemes resulted in a big loss to the United State Department of Energy (DOE). The allegations regarding the first scheme are that Mr. Peterson engaged, ... Read More »

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