Ponzi Schemes Category

You have already read about Ponzi schemes. Don’t assume you can’t be victimized by these illegal programs. Most victims invested in them after they were told how great they were by someone they liked or trusted. People running schemes and scams use very sophisticated marketing tactics that are based on what you want to see and hear before you invest.

By: DFreecloseAuthor: DFree Name: Debbie Freeman
Email: debbie@paladinregistry.com
Site: http://www.paladinregistry.com
About: See Authors Posts (14) | June 25, 2010 | Ponzi Schemes

Today the SEC alleged a new Ponzi scheme. The interesting part of the story is that the alleged Ponzi operator, Kenneth Wayne McLeod, is now deceased. Hmmm, how are they going to handle this one?
The SEC has frozen the estate of Mr. McLeod, along with assets from his benefits consulting firm, Federal Employee Benefits [...]

By: DFreecloseAuthor: DFree Name: Debbie Freeman
Email: debbie@paladinregistry.com
Site: http://www.paladinregistry.com
About: See Authors Posts (14) | June 19, 2010 | Ponzi Schemes

Here’s another sad but true story of investors who were taken to the cleaners by a ponzi operator. Giuseppe Viola is accused of running a ponzi in North Beach, a well known San Francisco neighborhood.
Like so many other ponzi operators, he promised investors returns of 20-25% on their investments, was a very good name [...]

By: DFreecloseAuthor: DFree Name: Debbie Freeman
Email: debbie@paladinregistry.com
Site: http://www.paladinregistry.com
About: See Authors Posts (14) | June 10, 2010 | Ponzi Schemes

A new ponzi scheme was just announced today in South Florida. This one focused on primarily on the hispanic community.
The con-artist used statements like: “no risk” investments, with returns of 10% to 120% paid in monthly interest payments.
Why do we post these articles? It’s our hope that we can help investors avoid making these [...]

By: DFreecloseAuthor: DFree Name: Debbie Freeman
Email: debbie@paladinregistry.com
Site: http://www.paladinregistry.com
About: See Authors Posts (14) | June 10, 2010 | Ponzi Schemes

Here is yet another sad story of investors who listened to the wrong person and lost more than $86 million in a ponzi scheme. If the investors involved had raised these questions, disaster may have been averted:
1. Who is the person I’m going to work with? Am I relying solely on their reputation to make [...]

By: DFreecloseAuthor: DFree Name: Debbie Freeman
Email: debbie@paladinregistry.com
Site: http://www.paladinregistry.com
About: See Authors Posts (14) | June 9, 2010 | Ponzi Schemes

I guess the old saying that “crime doesn’t pay” is true in the case of Scott Rothstein. Rothstein, a prominent (former) Florida lawyer, created a $1.2 billion dollar ponzi scheme where he financed a lavish lifestyle, created political influence, and bankrolled his lawfirm.
Here’s yet another good example of how a skilled sales person (or [...]

By: Matthew Arndt, CFA, CPA, CFP | January 22, 2010 | Illegal Schemes & Scams, Ponzi Schemes

The U.S. Securities and Exchange Commission alleges from 2007 through 2009, 51-year-old Steve W. Salutric a co-founder of investment advisery firm, Results One Financial in Elmhurst, IL, misappropriated several million dollars from his clients, one of which included a 96-year-old suffering from dementia.
According to the complaint, in addition to other crimes, Salutric embezzled over $400,000 [...]