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US Attorney Anne M Tompkins made the announcement in conjunction with Chris Briese, Special Agent in Charge of the Federal Bureau of Investigation (FBI), Charlotte Division, and Jeannine A Hammett, Special Agent in Charge of the Internal Revenue Service-Criminal Investigation Division (IRS-CI). According to the criminal indictment, the defendants operated “hedge funds” as part of […]
Over two grueling weeks, convicted Florida Ponzi schemer Scott Rothstein laid out in incriminating detail how far the tentacles stretched in his $1.2 billion fraud, pointing the finger at numerous lawyers, bankers, business people, relatives, friends and unnamed law enforcement officials and politicians. The testimony, made public in hundreds of pages of transcripts, could form […]
A Philadelphia estate lawyer accused by New Jersey of heading an $8.5 million Ponzi scheme that targeted retirees has been charged with money laundering in a separate case. An indictment unsealed Monday alleges that Michael Kwasnik stole more than $1 million from a client whose trust he was overseeing, using the money instead to pay […]
Daniel Spitzer promised his investors a good deal: low risk and sizeable returns if they agreed to put their money into a fund he told them he invested primarily in foreign currency trading, authorities announced today. But instead of investing, Spitzer took most the money he obtained from about 400 people and used it to […]
Investors in DBSI Inc. are only now getting a clear idea of what was going on at the Idaho-based commercial real estate investment company. There was little indication to investors that financial issues existed at DBSI until a notice they received six weeks prior to the company filing for Chapter 11 bankruptcy proceedings. However, problems […]