Another Guy Charged with Making Off with Clients’ Savings in Ponzi Scheme

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

Medical Companies’ Misdeeds Make Up Most of $143 Million Collected by Chicago’s U.S. Attorney – 4 Times Cost of Office

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

Ex-Crystal Lake Man Charged 400-Victim Ponzi Scheme, $34 Million Lost

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

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

$43 Million “Shariah-Compliant” Ponzi Scheme Goes Down

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

Feds Target $7 Million Woodstock-Based Ponzi Scheme

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

Woodstock’s Scott Ross Charged in Ponzi Scheme

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

Libertyville Ponzi Schemer gets Five Years for Stealing $9 Million

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

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