Long before cryptocurrency and Sam Bankman-Fried, the biggest name in corporate fraud was Bernie Madoff. Fifteen years after the FBI arrested Madoff on Dec. 11, 2008 for running a massive Ponzi scheme — and two years after his death in …
A disbarred New York attorney has changed his plea to guilty in connection with an $19 million Ponzi scheme and a $30 million auto insurance fraud. Robert Wisnicki, 44, of Forest Hills, pleaded to guilty to conspiracy to commit wire …
A south Florida jury has found Deutsche Bank liable for failing to flag a Ponzi scheme that allegedly forced several Cayman Island companies into bankruptcy and liquidation. The Germany-based global banking firm, which faces another lawsuit over the scheme and …
A longtime Las Vegas attorney was indicted on federal charges that he orchestrated a $460 million Ponzi scheme spanning multiple states, from Nevada and Utah to California and Arizona. The eight-count indictment accusing Matthew Wade Beasley of wire fraud and …
Finger-pointing in one of the largest Ponzi schemes to hit Florida has spilled over into the legal and insurance industries. Security National Insurance Co. has filed suit against a Miami law firm, alleging the lawyers failed to divulge their previous …
A court-appointed receiver has recouped more than $1 billion for victims of Texas financier Allen Stanford’s Ponzi scheme, the largest by dollar amount other than Bernard Madoff’s fraud, the receiver’s lawyers said on Monday. The threshold was crossed when Ralph …
NEW YORK — Bernard Madoff, who for decades masqueraded as a successful and trustworthy Wall Street kingpin before admitting to running the largest known Ponzi scheme in history, died on Wednesday in prison where he was serving a 150-year sentence. …
Former Dayton, Ohio-area insurance agent and investment adviser has been sentenced to five years in prison after being convicted of insurance fraud and conducting a “Ponzi” scheme targeting elderly consumers. The Ohio Department of Insurance reported that John Gregory Schmidt …
An insurance agent pleaded guilty Thursday in a promissory note scam that bilked nearly 80 clients out of $8.2 million. John Hogan, 77, of Swissvale, Penn., entered his pleas to five counts of mail fraud in the scheme run out …
A former insurance agent in East Texas must serve three years in prison for running a $5 million medical investment scam. Robert B. Hahn was sentenced in federal court in Tyler. The 64-year-old Tyler man in November pleaded guilty to …
