Father of Family Affair Ponzi Fraud Aimed at Black Church Members Sentenced

A press release from the U.S. Attorney’s Office: FATHER SENTENCED TO 15 YEARS IN PRISON, FOLLOWING EIGHT-YEAR TERMS IMPOSED ON SON AND DAUGHTER, FOR THEIR ROLES IN $10 MILLION AFFINITY FRAUD SCHEME THAT SWINDLED 2,000 VICTIMS CHICAGO — A Chicago … Continue reading

Hedge Fund Defrauder Got 900 for $924 Million in Ponzi Scheme

A press release from the U.S. Attorney’s Office: DIRECTOR OF DEFUNCT LAKE SHORE ASSET MANAGEMENT PLEADS GUILTY TO DEFRAUDING 900 INVESTORS IN $294 MILLION FRAUD SCHEME CHICAGO — The former managing director of a hedge fund that was forced into … Continue reading

17 1/2 Years for Man Causing $14.5 Million Mortgage Loss

A press release from the U.S. Attorney’s Office: FORMER SOUTH HOLLAND MAN SENTENCED TO 17½ YEARS IN PRISON FOR DIRECTING $35 MILLION MORTGAGE FRAUD SCHEME INVOLVING MORE THAN 120 RESIDENCES IN THE CHICAGO AREA CHICAGO — A former South Holland … Continue reading

Dundee Township Men Accused of Operating 300 Person, $16 Million Real Estate Ponzi Scheme

A press release from the U.S. Attorney’s Office: TWO SUBURBAN MEN ALLEGEDLY OBTAINED $16 MILLION FROM 300 INVESTORS IN FRAUDULENT REAL ESTATE INVESTMENT SCHEME CHICAGO — Two businessmen who operated a defunct northwest suburban real estate investment company were charged … Continue reading

Judge John Harrah Sentences Ponzi Scheme Crook to 20 Years

The guy’s name this time is Frank Castaldi. The U.S. Attorney’s press release follows: SUBURBAN MAN SENTENCED TO 23 YEARS IN PRISON AFTER HUNDREDS OF VICTIMS LOST MORE THAN $30 MILLION IN 22-YEAR “PONZI” SCHEME CHICAGO — A Ponzi scheme … Continue reading