A press release from the U.S. Attorney’s Office: TWO PRINCIPALS OF COLLAPSED FOREIGN CURRENCY TRADING FIRM SENTENCED TO FEDERAL PRISON FOR $17 MILLION FRAUD SCHEME CHICAGO — Two principals of a foreign currency trading firm that collapsed in 2007 were … Continue reading
Category Archives: Ponzi
A press release from the U.S. Attorney’s Office: FORMER SUGAR GROVE MAN SENTENCED TO 63 MONTHS IN FEDERAL PRISON FOR MAIL FRAUD IN OPERATING A $9 MILLION “PONZI” SCHEME ROCKFORD — An Aurora, Ill. man was sentenced today by U.S. … Continue reading
A press release from the U.S. Attorney’s Office: WEST SUBURBAN INVESTMENT ADVISOR CHARGED WITH CAUSING 10 CLIENTS TO LOSE MORE THAN $4.26 MILLION IN FRAUD SCHEME CHICAGO — A west suburban investment advisor allegedly engaged in an investment fraud scheme … Continue reading
A press release from the U.S. Attorney’s Office: CHICAGO U.S. ATTORNEY’S OFFICE COLLECTED $142.6 MILLION IN CIVIL AND CRIMINAL ACTIONS IN FISCAL YEAR 2011 CHICAGO — The U.S. Attorney’s Office for the Northern District of Illinois collected approximately $142.6 million … Continue reading
A press release from the U.S. Attorney’s Office: FORMER SUBURBAN MAN ADDED AS A NEW DEFENDANT IN INDICTMENT ALLEGING $105 MILLION “PONZI” SCHEME INVOLVING 400 VICTIMS CHICAGO — A former suburban Chicago man has been charged as a new defendant … Continue reading
A press release from the U.S. Attorney’s Office: WAUCONDA MAN SENTENCED TO MORE THAN 9 YEARS IN PRISON FOR “PONZI” SCHEME Rockford — A Wauconda, Ill. man was sentenced today to more than 9 years in federal prison for operating … Continue reading
A press release from the U.S. Attorney’s Office: LONG GROVE MAN SENTENCED TO SEVEN YEARS IN PRISON FOR FINANCING FRAUD SCHEME RESULTING IN $3 MILLION LOSS CHICAGO — A northwest suburban man was sentenced today to seven years in federal … Continue reading
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
Another Ponzi scheme has surfaced in the Chicago area, this time in Kane County. Here’s the U.S. Attorney’s press release: SUBURBAN CHICAGO MAN AND CALIFORNIAN INDICTED FOR ALLEGEDLY SWINDLING INVESTORS IN A $5 MILLION FRAUDULENT FINANCING SCHEME CHICAGO — A … Continue reading
Another Ponzi schemer sentenced, this time out of nearby Fox Lake: FAR NORTH SUBURBAN MAN SENTENCED TO 4 ½ YEARS WITH CHEATING TWO DOZEN INVESTORS OF $3.7 MILLION IN ALLEGED PONZI-SCHEME CHICAGO – A far north suburban man was sentenced … Continue reading
A Ponzi scheme discovered in the summer of 2009 in which evangelical churches, including at least one in this area, were targeted has been playing out in Sullivan County, Indiana. The Reeves’ family solicited investments through their firm Alanar from … Continue reading
Almost seventeen years in prison for the latest Ponzi scheme rip-off artist in the Chicago area. Over 250 people were swindled out of $6.7 million by David J. Hernandez and there seems to be virtually nothing to be recovered. Two … Continue reading
The Chicago U.S. Attorney’s Office has taken action against still another Ponzi schemer, Randy M. Cho. Its press release is below: FORMER CHICAGO MAN ALLEGEDLY SWINDLED NEARLY $8 MILLION FROM MORE THAN 50 VICTIMS IN INVESTMENT FRAUD SCHEME CHICAGO — … Continue reading
Three Chicago banks got defrauded out of millions of dollars financed by a Ponzi scheme that cheated hundreds the U.S. Attorney’s Office charged today. The press release follows: THREE OWNERS OF BANKRUPT SUNRISE EQUITIES ACCUSED OF CHEATING HUNDREDS OF INVESTORS … Continue reading
The Ponzi schemes being uncovered by the U.S. government are getting closer to home. This case had assistance from the Illinois Secretary of State’s Office and is based in Woodstock: TWO McHENRY COUNTY BUSINESSMEN INDICTED ON FEDERAL CHARGES FOR DEFRAUDING … Continue reading
The U.S. Attorney’s Office has apparently stopped another Ponzi scheme. This time it was apparently run by a Woodstock man, Scott M. Ross. The statement of says, “Defendant SCOTT M. ROSS owned and operated Harbor Wealth Management, LLP, and its … Continue reading
Here are the details from the U.S. Attorney’s Office: LIBERTYVILLE MAN SENTENCED TO FIVE YEARS IN PRISON FOR CHEATING SOME 100 VICTIMS OF MORE THAN $9 MILLION IN “PONZI” SCHEME CHICAGO — A Libertyville man was sentenced today to five … Continue reading
The United States Attorney’s Office is really on a tear in uncovering Ponzi schemes in Northern Illinois. Why might that be? In bad times, I’m told, people are more likely to ask for payouts from such fraudulent operations. When they … Continue reading
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
That’s what this press release from the U.S. Attorney’s Office incidcates: WEST SUBURBAN MAN SENTENCED TO 10 YEARS IN FEDERAL PRISON FOR SWINDLING 75 VICTIMS IN $28 MILLION “PONZI” SCHEME CHICAGO — Saying a fraud defendant’s conduct was “despicable” and … Continue reading