http://ponzinews.com News about Ponzi Schemes such as the Bernard Madoff, Andy Bowdoin and other cases. Fri, 18 Jun 2010 21:41:41 +0000 http://backend.userland.com/rss092 en In an investment-fraud probe that featured international cooperation, a Florida man who allegedly sold bogus "joint ventures" in Texas oil-and-gas operations has been accused of fraud by the Securities and Exchange Commission. Part of the scheme operated through companies that listed registrations in Aruba, the SEC said. Named defendants were Justin Solomon ... http://ponzinews.com/2010/06/18/sec-florida-man-ran-investment-scheme-with-affiliated-firms-in-aruba-justin-solomon-accused-of-defrauding-overseas-clients/ Individual investors whose financial lives were ruined by Bernard Madoff and are struggling or finding it impossible to make ends meet may get some help. Irving Picard, the trustee liquidating Bernard L. Madoff Investment Securities LLC, is implementing a "hardship program." The announcement itself is almost painful to read -- even though ... http://ponzinews.com/2009/05/09/hardship-program-to-be-implemented-by-trustee-in-unwinding-of-bernard-l-madoff-investment-securities/ A California man described by police as a "well-respected" member of the community of Livermore has been charged in an alleged Ponzi scheme that bilked senior citizens out of their life savings. Livermore police began receiving troubling reports on Maynard Weldon Moreland April 7. Moreland, 49, a Certified Public Accountant, has been ... http://ponzinews.com/2009/05/08/maynard-weldon-moreland-california-accountant-charged-in-ponzi-scheme-that-fleeced-elderly/ Tidbit: Norman Hsu became infamous for raising funds Democrats had to return because of allegations the contributions were tainted. Hsu, 57, has pleaded guilty to 10 counts of wire fraud and mail fraud for running a Ponzi scheme that fleeced investors out of at least $20 million. The scheme operated between 1997 ... http://ponzinews.com/2009/05/08/ponzi-tidbits-for-may-8-norman-hsu-dem-fund-raiser-pleads-gulity-to-ponzi-scheme/ Tidbit: Dutch regulator AFM may have 10 Ponzi schemes on its hands, the Guardian reports via Reuters. AFM will release details about a Ponzi scheme involving 70 million euros ($92.7 million) in the "coming days," the newspaper reported. Tidbit: Courthouse News Service is reporting on a lawsuit in which East West Bancorp ... http://ponzinews.com/2009/05/05/ponzi-tidbits-for-may-5-dutch-regulator-investigating-10-possible-ponzi-schemes/ A Michigan man faces 20 years in prison after pleading guilty to his role in a Ponzi scheme. Eric Riley Merkle, 55, of Williamston, Mich., pleaded guilty to securities fraud, mail fraud and conspiracy, said U.S. Attorney Donald A. Davis of the Western District of Michigan. "Merkle admitted at his change of ... http://ponzinews.com/2009/05/01/eric-merkle-pleads-guilty-in-michigan-oil-and-gas-ponzi-scheme-that-netted-5-million/ Stephen Reiger, Loretta Braun and CityPay Payoll Services have been indicted on charges of stealing nearly $1.7 million and creating a tax liability in that amount for more 300 clients throughout the United States, the office of Manhattan District Attorney Robert M. Morgenthau said. Investigators said the crimes occurred between March ... http://ponzinews.com/2009/05/01/stephen-reiger-loretta-braun-citypay-payroll-services-indicted-in-ponzi-scheme/ Bradley L. Ruderman of Los Angeles  has been charged with defrauding investors and lying about his hedge funds, the SEC said. Ruderman made at least one Ponzi payment, and falsely told investors that Lowell Milken, chairman of the Milken Family Foundation and Michael Milken's younger brother, and Larry Ellison, chief executive ... http://ponzinews.com/2009/04/30/sec-bradley-l-ruderman-ruderman-capital-management-fleeced-hedge-fund-investors/ Tidbit: Carole Nelson, 50, of the District of Columbia, has pleaded guilty to money laundering for her role in the alleged Metro Dream Homes mortgage fraud and Ponzi scheme. Prosecutors said investors were fleeced out of more than $70 million after being told a $50,000 investment would result in their mortgages ... http://ponzinews.com/2009/04/29/ponzi-tidbits-for-april-29-madoff-turns-71-today-woman-in-alleged-dream-homes-scam-in-metro-washington-pleads-guilty-police-in-britain-arrest-three-women/ Financier Danny Pang and his two California companies "allegedly defraud[ed] investors of hundreds of millions of dollars by misrepresenting investments in the life insurance policies of senior citizens and in timeshare real estate," the SEC said. A federal judge has issued an emergency order freezing the assets of Pang and the ... http://ponzinews.com/2009/04/28/danny-pang-pem-group-targeted-by-sec-in-asset-freeze-amid-allegations-he-fleeced-hundreds-of-millions-from-investors/