Dundee Man Gets 7 1/2 Years in Ponzi Scheme, Losses Set at $18 Million

A press release from the U.S. Attorney’s Office: FOUR DEFENDANTS SENTENCED TO PRISON TERMS BETWEEN FIVE AND 10 YEARS IN THREE INVESTMENT FRAUD SCHEMES CHICAGO — Four defendants who swindled investors out of millions of dollars in three separate Ponzi … Continue reading

Ten Cigarette Bootleggers Arrested, Charges Include Transferring Money to Jordan

A press release from the U.S. Attorney’s Officeabout cigarette bootlegging offenses before the tax is increase another $1 a pack: U.S. INDICTS 10 DEFENDANTS ARRESTED FOR ALLEGEDLY TRAFFICKING MILLIONS OF UNSTAMPED, UNTAXED CIGARETTES IN UNDERCOVER STING CHICAGO — At an … 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

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

Another Chicago Area Ponzi Scheme

The U.S. Attorney’s Office has issued the following press release about another alleged Ponzi scheme in Chicagoland: FRANK A. CASTALDI CHARGED WITH ALLEGEDLY SWINDLING MORE THAN 450 INVESTORS IN $77 MILLION PONZI-SCHEME CHICAGO – A suburban businessman who offered and … Continue reading