Craigslist Ponzi Scheme snares retired teacher: state Regulators Regulators in Massachusetts and Alabama issue cease-and-desist orders against Premiere Asset Management for orchestrating a.
Intersting Way to Avoid Florida Foreclosure It takes much longer than that in Florida, where the process averages 1,027 days, nearly 3 years. In D.C., foreclosure averages 1,053 days and delinquent borrowers in New York often stay in their.
While pyramid schemes come in many shapes and sizes, the scams’ promoters always promise participants a large payout in exchange for paying a fee to join and then recruiting others to join the scheme. Pyramid and Ponzi schemes are both fraudulent scams in which participants make money primarily from enrollment fees paid by new recruits rather than by selling products or services.
"Investors entrusted him with their retirement savings, and he spent it as his own money." According to the SEC’s complaint filed in U.S. District Court for the Southern District of Florida, one retired Miami-Dade County school teacher and church pastor invested $125,000 in the fund.
The U.S. Securities and Exchange Commission (SEC) and the U.S. Attorney’s Office for the Southern District of Florida have each charged Miami-based investment advisor Phil Donnahue Williamson for his alleged role in a $2,000,000 Ponzi scheme that defrauded hundreds of retired public sector workers, including school teachers and law enforcement agents.
SEC Announces Charges Against Retirement Plan Custodian in Connection With Ponzi Scheme. The Enforcement Division alleges that Taylor and Poulson defrauded more than 100 investors out of $5 million invested through accounts at Equity Trust, and that Equity Trust was a cause of violations of Section 17 (a) of the Securities Act of 1933 by Taylor and Poulson.
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SEC, Prosecutor Charge Miami Investment Adviser With Defrauding Retired Teachers and law enforcement officers with Ponzi Scam. The regulator claims that Williamson told investors that there would be zero risk to their money if they invested and annual returns were supposed to range from 8 to 12%.
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Amie Berlin, an attorney for the Securities. Ponzi scheme that she says was orchestrated by former church director Jose Aman and prominent Canadian financial commentator Harold Seigel. His son,
The Lure of Ponzi Schemes.. the Securities and Exchange Commission shut down an online scheme that raised $600 million from one million Internet customers and a Utah-based real estate flimflam.
A Peabody company has been charged with violating the state’s securities laws, according to Massachusetts Secretary of state william galvin.. the classic hallmark of a Ponzi scheme," the.