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Scam Reporter

Nearly 1,000 Investors Across The World Defrauded Out Of $294 Million

Former managing director of a hedge fund (that was forced into receivership by U.S. government regulations), Philip Baker, was sentenced this month to 20 years in prison for fraudulently soliciting and obtaining around $294 million from around 900 investors across the world. Baker, who controlled Lake Shore Asset Management, and the Lake Shore Group of Companies, which allegedly traded clients’ ... Read More »

    Rome Wasn’t Counterfeited In A Day

    At the ripe young age of 25 Atlanta Georgia’s Vincent Gerome Rome Jr., pleaded guilty to manufacturing counterfeit $100 bills along with being a felon in a charge of a possession of a firearm. Over an approximately two-year period ending in August 2011, Rome created over $1.2 million in counterfeit $100 bills by removing the original image from genuine $5 ... Read More »

      Krahl Construction Executives And Employees Indicted In Alleged Fraud And Kickback Scheme

      Construction company executives and employees, along with others, have been indicted in an alleged billing fraud and kickback scheme. Krahl Construction’s Principal owner and six of it’s top executives and employees along with two former employees of client companies were indicted for allegedly engaging in a fraudulent billing and kickback scheme. The defendants affiliated (seven in total) with Krahl Construction ... Read More »

        ILENDER – Consumer Complaint – 12-1-2011

        Ready to Collapse

        Date This Problem Happened: December 1, 2011 State You Live in: Missouri Race/Ethnicity: White Age Range: 21-35 Total Amount of Fee Paid: Company Name: ILENDER Company Address: Company Telephone Number: 888-419-9080 Website of Company: ilender.com Consumer Statement: I NOTICED THAT MY ACCOUNT HAD BEEN DEBITED FOR .05 TODAY. I HAVE NO IDEA WHO THIS COMPANY IS. I TRIED TO CONTACT, ... Read More »

          ILENDERAST AND/OR FUNDASSUR – Consumer Complaint – 12-1-2011

          Funding Assurance - We secure funding no matter credit score, job status or income level! (20111201)

          Date This Problem Happened: November 30, 2011 State You Live in: Florida Race/Ethnicity: White Age Range: 21-35 Total Amount of Fee Paid: $31 Company Name: ILENDERAST AND/OR FUNDASSUR Company Address: Company Telephone Number: 866-761-1124 Website of Company: funding assurance.com Consumer Statement: I SAW TODAY THAT I HAD THIS 30.000 CHARGE ON MY ACCOUNT THAT WAS NOT AUTHORIZED ! I HAD ... Read More »

            Two Jailed For Fraudulent Debt Collection Service

            Those in connection to the fraudulent debt collection service Maxwell, Turner & Associates (MTA), Darrian Summers and Stefan Lemar Miller, were sentenced to eight years and six years of prison, respectively. Summers was sentenced to eight years for conspiracy to commit mail fraud, and Miller was sentenced to six years and nine months for conspiracy to commit mail fraud and ... Read More »

              Something Stinks. It Could Be This $1 Million Septic Tank Scam

              Septic Remedy

              It was announced earlier this month that defendants Mary Moore, Joseph Nouerand and Christopher Lincoln plead guilty to one count of conspiracy to commit wire fraud for… get this… knowingly participating in a shame to fraudulently market and sell unnecessary and unneeded septic treatment products to consumers. The three acted in cahoots with other employees of FBK Products, a Florida ... Read More »

                The Formula For Fraud Is Not Greater Than Or Equal To The Formula For Investing

                An alleged investment fraud scheme has lead to an indictment charging Robin Brass with four counts of mail fraud where she could face up to 20 years in prison and a fine of up to $250,000 on each count. Allegedly, from around March 2009 until approximately November 2011, Brass acting as a principal of The BBR Group, Nibor Investment Fund, ... Read More »

                  Michigan Man Sentenced For $84 Million SBA Loan Fraud

                  Earlier this month David Faraj was sentenced to 61 months in prison for his participation in an $84 million dollar Small Business Administration (SBA) loan scheme. According to the plea documents, between 2000 and 2005, Faraj obtained SBA guaranteed loans through the use of straw purchasers. He falsified documents to make it appear that the straw purchasers were credit worthy. ... Read More »

                    Owner Of Three Precious Metal Firms Sentenced In $29.5 Million Investment Scheme

                    Earlier this month Jamie Campany, owner of three invesment firms specializing in alleged metal purchases, was sentenced to 151 months in prison on multiple counts of mail and wire fraud. According to the Information filed in the case and statements made in court during the plea and sentencing, Campany was the owner of three investment firms specializing in purported gold, ... Read More »

                      DirectFundingService.com – Consumer Complaint – 11-30-2011

                      Ready to Collapse

                      Date This Problem Happened: November 18, 2011 State You Live in: Minnesota Race/Ethnicity: White Age Range: 36-50 Total Amount of Fee Paid: $100 Company Name: Direct Funding Service Company Address: Company Telephone Number: 888-467-4349 Website of Company: DirectFundingService.com Consumer Statement: They took one cent out of my account than returned it and resent it I am now 100.00 in the ... Read More »

                        Thomas Dvorak P.A. – Loan Mod. – 11/30/2011

                        Date This Problem Happened: October 6, 2009 State You Live in: Pennsylvania Race/Ethnicity: White Age Range: 51-65 Total Amount of Fee Paid: $10,000 Company Name: Thomas W. Dvorak P.A. Company Address: Company Telephone Number: Website of Company: dvork.com Consumer Statement: I used this firm for a loan mod. paid them all there fees. Just to find out my mortgage co. ... Read More »

                          Cornerstone State Financial – Consumer Complaint – 11-30-2011

                          _1130095547_001_page1

                          Date This Problem Happened: November 7, 2011 State You Live in: Mississippi Race/Ethnicity: White Age Range: 36-50 Total Amount of Fee Paid: $948 Company Name: Cornerstone State Financial Company Address: 1 Penn Plaza New York, NY 10119 Company Telephone Number: 888-643-4749 Website of Company: Cornerstone State.com Consumer Statement: Never received the money. Consumer Action Taken: Can’t get in touch with ... Read More »

                            What Happens When (Alleged) Greed Takes Over Your Life?

                            Earlier this month it was announced that John Voloshin was arrested for operating multiple alleged fraud schemes. According to allegations in court documents and statements made in court, Voloshin has represented himself to be in the business of real estate development. In approximately 2006, Voloshin asked an individual to loan him $500,000. Voloshin indicated that he was in contract to ... Read More »

                              Mid-2000s Multimillion Dollar Fraudster Finally Gets Sentenced

                              In the mid-2000s Clarence Allen Rice, owner of C & J Leasing Corporation, ran a complex, multimillion dollar wire fraud scheme to which he was just sentenced to a term of 70 months in prison for earlier this month. Trial and sentencing evidence showed that Rice suffered over $800,000 in day trading losses in the early 2000s using his company’s ... Read More »

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