Three people, including two principals of an insurance firm, who were convicted in a fraudulent Nebraska investment scheme have been sentenced to prison and ordered to make restitution of more than $16.6 million. The three were sentenced in U.S. District …
Allen Stanford’s U.S. court-appointed receiver may keep control of the process to collect and distribute the convicted Ponzi schemer’s assets to victims, defeating a bid by Caribbean liquidators, a U.S. federal judge has ruled. U.S. District Judge David Godbey in …
One of three former Grand Island, Neb.-based insurance agents accused of defrauding more than 250 investors out of $29 million has pleaded guilty. The Grand Island Independent reported that Kenneth Mottin, of St. Libory, pleaded guilty to mail fraud. Mottin, …
A former partner at Dewey & LeBoeuf has sued a group of the law firm’s ex-leaders for fraud, saying they ran the now-bankrupt firm as a Ponzi scheme to benefit themselves. Henry Bunsow, an intellectual property lawyer in San Francisco, …
A current and a former insurance agent from Southern California have been arrested for allegedly running a million-dollar Ponzi scheme. Edwin Salazar, 34, of Downey, and Michael Zuniga, 41, of Fullerton have each been arrested on 57 felony counts for …
Federal securities regulators have sued a brokerage industry backed fund on behalf of victims who lost money in Allen Stanford’s alleged $7 billion Ponzi scheme and have yet to recover any funds. The U.S. Securities and Exchange Commission asked a …
Tobey Maguire has decided to fold `em and settle a lawsuit over his winnings from a convicted con man during high-stakes Hollywood poker games. The “Spider-Man” star agreed to pay $80,000 to settle the lawsuit filed over more than $311,000 …
A Southern California couple and their mother were arrested and have been charged with violating multiple sections of the state’s penal code and corporations code, it was announced Thursday. Arrested were Anthony Trae Carlson, 42, Mariah Waterfall O’Brien, 40, and …
A federal judge narrowed a $1 billion lawsuit against owners of the New York Mets baseball team by the trustee seeking money for Bernard Madoff’s victims, and cast skepticism on how much might ultimately be recovered. Tuesday’s ruling by U.S. …
In a major victory for victims of Allen Stanford’s alleged Ponzi scheme, U.S. regulators have concluded that they should be compensated by a brokerage industry-backed fund. The decision announced Wednesday by the U.S. Securities and Exchange Commission comes nearly two …
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