Texas Man Convicted Of Securities Fraud
A federal jury on Monday convicted a Rockwall, Texas man of securities fraud arising from an investment scheme he ran, according to U.S. Attorney John Parker of the Northern District of Texas. Mark Lee Cleaton was found guilty on four counts of wire fraud and is facing a maximum penalty of twenty years in prison […]
Texas Bitcoin Ponzi Scheme Operator Pleads Guilty To Securities Fraud
Trendon Shavers, a 33-year-old from McKinney, Texas who operated a Ponzi scheme using the virtual currency bitcoin, pleaded guilty to securities fraud this week. Shavers started a company, called Bitcoin Savings & Trust, in 2011 which he used to acquire bitcoins from potential investors via the web, telling them he would pay investors one percent […]
RIA Fined $2.8M And Owner Barred From Securities Industry
The SEC has fined a former registered investment adviser $2.8 million and barred its owner, Jacob Cooper, from the securities industry. Cooper, who is known as a “Main Street Madoff” by his ex-clients, is alleged to have defrauded investors by using a kickback scheme that caused about $44 million in losses. The owner of San Diego’s […]
FSC Securities To Pay $1.28M In Ponzi Case
FSC Securities will pay a $1.28 million arbitration award to investors who were defrauded by Aubrey Lee Price, who had feigned his death in 2012 to avoid being investigated for his $40 million Ponzi scheme. FSC, a broker-dealer in the AIG Advisor Group, was alleged by 8 investors to have failed to supervise a number […]
Alabama Man Sentenced For Ponzi Scheme
Bryan Anderson, a former broker from Hoover, Alabama, was sentenced yesterday to seven years and three months in federal prison after pleading guilty to operating a Ponzi scheme that defrauded investors out of over $3 million. U.S. District Court Judge Virginia Hopkins also ordered Anderson to pay restitution of $3,068,614 plus interest to his victims. […]
SEC Slams Door On $114M Ponzi Scheme
Frederick Alan Voight of Richmond, Texas, a Houston-area businessman promising to prevent car wrecks caused by drowsy drivers, has been charged by the SEC with operating a $114 million Ponzi scheme. Voight has been accused of defrauding over three hundred investors. He most recently raised $13.8 million on claims that the money would be used […]
Gold Mining Ponzi Scheme Targets Latinos in Florida
On July 2, 2015, the SEC froze a fraudulent venture headed by DFRF Enterprises, its leader, and six promoters. The SEC alleges that DFRF Enterprises operated a Ponzi scheme by promoting and selling membership interests in over 50 Brazilian and African gold mines. The company recruited investors by promising large profits on fully insured funds used […]
SEC Charges Former NFL Player With Fraud For Operating $31M Ponzi Scheme
Will Allen, a former National Football League cornerback, was charged with fraud by the SEC for allegedly running a Ponzi scheme that bilked investors out of $31 million. Allen allegedly worked with Susan Daub to create a number of companies, including Boston-based Capital Financial Partners, offering loans to professional athletes. Allen and Daub allegedly told […]
Alabama Man Pleads Guilty In Ponzi Scheme Case
Over a five year span, former Hoover, Alabama financial broker Bryan Anderson found eighteen people to invest $8.4 million in a number of investments and guaranteed that the investments were completely risk free. Roughly two thirds of those investors watched Anderson at the federal courthouse in downtown Birmingham plead guilty to operating a Ponzi scheme […]
North Carolina Man Accused Of Securities Fraud
Micah Christopher Wilson of Gastonia, North Carolina was accused last week of defrauding investors out of hundreds of thousands of dollars. Law enforcement agents with the North Carolina Secretary of State’s Securities Division charged Wilson two counts of felony securities fraud and two counts of obtaining property by false pretenses. Authorities believe Wilson conned several […]
