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  • A 25 Count Indictment For Investment Scheme Fraudster Announced

    A federal grand jury in Pheonix returned a 25 count indictment against Gerald Lee Kelly on four counts of wire fraud, six counts of mail fraud, 10 counts of money laundering and five counts of structuring financial...

    • Posted January 25, 2012
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  • Ponzi Schemes Are The New Black

    Thirteen days into the year and I feel like all I’ve written about is Ponzi-scheme after Ponzi-scheme after Ponzi-scheme. Today I bring to you the sentencing of Jenifer Devine, the woman who owned a purported wholesale merchandise...

    • Posted January 13, 2012
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  • Largest Recruiter Of Shapiro’s $930 Million Ponzi Scheme Sentenced

    Sydney Jack Williams of Naples, Florida was sentenced today to a year and a day in prison for failing to report more than $12 million to the IRS in related commissions received in Nevin Shapiro’s $930 million...

    • Posted January 11, 2012
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  • Your 2012 New Year’s Resolution: Don’t Get Scammed!

    History repeats itself. Fact. George Santayana once stated, “those who cannot remember the past are condemned to repeat it.” This fact holds true with every aspect of one’s life, especially in one’s financial life. And especially in...

    • Posted January 9, 2012
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  • Investment Advisor Defrauds Clients Out Of Retirement Funds

    Apparently an Illinois investment advisor, Steven Salutric, engaged in an investment fraud that swindled the retirement savings of 10 elderly clients to lose more than $4.26 million. Salutric was charged with one count wire fraud in a...

    • Posted January 5, 2012
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  • Woman Sentenced For Stealing Identities Of Student Loan Borrowers

    Janika Fernae Bates, a resident of Alabama, was sentenced today in the Middle District of Alabama to 94 months in federal prison for stealing identities of student loan borrowers and providing them to a co-conspirator, who used...

    • Posted December 29, 2011
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  • Lebanese Financial Institutions Linked to Hizballah Allegedly Wired Over $300 Million Into The United States In Money Laundering Scheme

    Announced earlier last week was the filing of a civil money-laundering and in rem forfeiture complaint alleging a massive, international scheme in which Lebanese financial institutions, including a bank and two exchange houses linked to Hizballah, used...

    • Posted December 29, 2011
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  • East Coast Credit Card Fraud Ringleader Gets 12 Years In Prison

    An identity thief was sentenced earlier this month to 12 years in prison for managing and east coast credit card fraud ring. Jonathan Oliveras, used counterfeit credit cards encoded with stolen account information up and down the...

    • Posted December 28, 2011
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  • State Government Uniform Scam? That’s New…

    A Massachusetts man was sentenced last week to 8.5 years in prison for a 20-year Ponzi scheme and ordered to pay over $17 million in recitation to over 200 victims. Richard Elkinson was sentenced to 102 months...

    • Posted December 8, 2011
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  • Audacious Attorney Abuses Authority

    A Geogira attorney, Gary Wisenbaker, plead guilty to a wire fraud charge in relation to defrauding his own clients. According to evidence presented at the guilty plea hearing, Wisenbaker stole money from his clients by settling civil...

    • Posted December 6, 2011
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  • Three Plea Not Guilty In Skimming Scam Across Southern New England

    Three New York residents were charged last week with an indictment charging them with conspiracy, bank fraud and identity theft offenses related to an alleged participation in an ATM “skimming” scheme across southern New England. Gabriela Graham...

    • Posted November 30, 2011
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  • Two Liberian Nationals Arrested In Black Money Scheme

    Two Liberian nationals have been arrested on criminal complaints charging them after allegedly defrauding a man out of $100,000 in a “black money” scheme. According to Affidavits in support of the Criminal Complaints, it is alleged that...

    • Posted November 4, 2011
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  • New Defendant Named In $105 Million Ponzi Scheme

    A pending federal case investigating a $105 million “ponzi” scheme has charged a new defendant in the case. Newly added defendant, Alfred Gerebizza, is alleged that he and co-defendant Daniel Spitzer engaged in a ponzi scheme that...

    • Posted November 2, 2011
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  • 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...

    • Posted November 1, 2011
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  • 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...

    • Posted October 17, 2011
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  • 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...

    • Posted October 10, 2011
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  • 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...

    • Posted October 6, 2011
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  • New Jersey Commodity Pool Operator And Day Trader Faces 55 Years For Two Separate Schemes

    Victor Cilli pleaded guilty on October 3, 2011 to an Information charge against him with one count of securities fraud, one count of conspiracy to commit bank fraud and one count of tax evasion. Cilli was a...

    • Posted October 5, 2011
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