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All posts tagged "ponzi"

  • Online Payday Loan Provider Impact Cash Charged as a Ponzi.

    The SEC just filed suit against John Scott Clark, Impact Cash, and Impact Payment Systems. The suit alleges Clark and Impact, which operated an online payday loan business, effectively lured investors in and took their money. From...

    • Posted March 29, 2011
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  • Jewelry Store and Pawnshop Owner Charged With Running Ponzi Scheme

    Yesterday in Miami, Luis Felipe Perez was sued by the Securities and Exchange Commission for defrauding primarily Hispanic consumers by investing money for fixed returns. From 2006 until June 2009, Perez raised approximately $40 million in a...

    • Posted June 3, 2010
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  • I Lost My $31,000 Cash Advance to a Ponzi Scheme. – Jimmy

    Jimmy “Dear Steve, Hi, my name is Jimmy and I am from Orange County, California. I recently took a $31,000 credit cash advance for which i thought was a great business opportunity but turned out to be...

    • Posted January 7, 2010
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  • Death Sentence Given for Woman in Ponzi Scam

    A former high-flying businesswoman was sentenced to death in Zhejiang Province for orchestrating a massive Ponzi scheme. The scam lifted 770 million yuan (US$112.77 million) from 19 investors in less than two years. Jinhua City’s Intermediate People’s...

    • Posted December 19, 2009
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  • NASCAR Ponzi Scam Nabs Drivers

    “Basically, the Ponzi scheme made investors believe that they could get them a guaranteed return on their investment up to 40.8 percent and they got them to invest their money and then used their money for their...

    • Posted July 22, 2009
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