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Ponzi scheme News

This Nebraska woman allegedly scammed Square out of $5.7 million

Omaha - Square has been doing quite well in the mobile payments business, and the company is on the edge of going public. As is expected, the company is allowing potential investors to examine the risks and uncertainties it has to contend with.

Op-Ed: Bernie Madoff's crimes still reverberating

New York - Bernie Madoff's former attorney. Paul Konisberg, pleads guilty to security fraud — reminding us of a decade fraught with lies.

Calgary woman accused of running motorhome timeshare scam

Calgary - A 33-year-old woman and two of her companies face 63 fraud-related charges in a scheme to sell timeshares in a motorhome. There was no lot to put the motorhome on. According to authorities, there wasn't even a motorhome.

Bernie Madoff's offices fueled by sexual affairs among employees

New York - Bernard Madoff's multimillion-dollar empire did not only front for a criminal operation, according to federal prosecutors, it was a sex den featuring multiple affairs among employees, including the convicted Ponzi swindler himself.

Toronto pastors charged with bilking church members of millions

Toronto - The three pastors, a man and two women, face numerous charges for allegedly defrauding their congregants, family and friends out of $8.6 million in a Ponzi scheme.

Zeek Ponzi Scheme Receiver's offer to ZeekRewards net-winners

Charlotte - Kenneth D. Bell, Receiver of Rex Venture Group, makes an offer for possible settlement and payment terms for ZeekReward net-winners without court action.

Zeek Rewards rip-off Ponzi scheme — Latest updates

Charlotte - In August 2012 the SEC filed an emergency complaint in Charlotte, North Carolina to prevent Paul Burks and Rex Ventures making money through operating Zeek Rewards in order to save 'investors' from potentially enormous Ponzi scheme losses.

ZeekRewards Zeekler Ponzi scheme profiteers face legal action

Charlotte - Those who profited from ZeekRewards should fess up or Kenneth Bell, the court appointed receiver investigating Rex Venture's alleged $600 million dollar Ponzi scheme, says he will find them and they will face legal action.

Bernie Madoff's defrauded victims win $2.48 billion payout

The check is in the mail. Victims of Bernard Madoff, the mastermind of the biggest Ponzi scheme in American History, will soon get $2.48 billion to help recoup their losses, making it the the largest payout since the fraud was exposed in 2008.

Singer John Mayer sued over ponzi scheme

Singer John Mayer has been brought into a lawsuit that involves a Ponzi scheme which totaled more than one-hundred million dollars.

Zeek Rewards and shut down for alleged Ponzi scheme

Charlotte - Those who thought their financial dreams had come true through Zeek Rewards are probably wishing they'd kept their cash in the stock exchange or bank. The Securities and Exchange Commission shut down, declaring it was operating a Ponzi scheme.

Bernie Madoff victims to recover $405 million in NY settlement

New York - Hedge fund manager J. Ezra Merkin who invested his clients’ money in Bernard L. Madoff’s Ponzi scheme –– without their knowledge –– will pay more than $400 million under a settlement.

Texan billionaire Allen Stanford gets 110-year jail term

Houston - This Thursday witnessed the ex-tycoon and one-time cricket mogul Allen Stanford’s stunning fall from grace, when he was sentenced to 110 years in jail for a $7 billion swindle.

NY Mets owners to pay $162 million to victims of Bernie Madoff

New York - The owners of the New York Mets settled a lawsuit to victims of Bernie Madoff’s Ponzi scheme that accused the owners of lining their own pockets while willfully ignoring warning signs that Madoff was running a fraud.

Bernie Madoff's wife says couple attempted suicide in 2008

Bernard Madoff, the man now famous for orchestrating the largest Ponzi scheme in history, tried to commit suicide in 2008. His wife says she downed a bunch of pills with him in an attempt to take their lives.

Tales of treasure hunters and charlatans in the Ozark Mountains Special

Springdale - The program presented at the Shiloh Museum of Ozark History by researcher Robert Myers was titled “Under Cover of Darkness: Buried Treasure, Magic, and Deception in the Ozark Mountains,” and featured tales about treasure guide Charlie Gonzales.

Op-Ed: The niggling grain of truth in Madoff’s interview

Bernard Madoff’s recent interview with New York Magazine, during which he blamed not only himself but also his investors’ “greed” and their role in his Ponzi scheme, has enraged many of his victims. But he does have a point.

Kenneth Starr arrested on alleged $30 million ponzi scheme

New York - Kenneth Starr, a New York financial investment advisor to Hollywood stars such as Uma Thurman and Martin Scorsese, was arrested on charges of running a $30 million ponzi scheme.

Arrest warrant issued for Ponzi scheme suspect Weizhen Tang

An arrest warrant has been issued for Toronto's "Warren Buffett." Weizhen Tang is a suspect in a Ponzi scheme case where more than 100 people have been defrauded of more than $30 million.

Madoff Victims See Claims Rejected

A large number of people who lost money through the Ponzi scheme run by Bernard Madoff, arrested one year ago on Friday, have seen claims for repayment of their losses rejected.

Trustee Files $199 Million Suit Against 4 Madoff Family Members

Four relatives of convicted fraudster Bernard Madoff are being sued for $199 million by the trustee appointed by a court to liquidate Madoff's business.

Prison denies Madoff dying of pancreatic cancer

Convicted swindler Bernie Madoff said he was dying of pancreatic cancer while he serves his sentence in North Carolina. But the Federal Bureau of Prisons said the claim is false.

Earl Jones finally charged with fraud

The man suspected of having defrauded up to 200 people of their money in a ponzi scheme was charged early Tuesday with four counts of theft and four counts of fraud in a Montreal court.

Canadian suspected Ponzi scam artist Earl Jones arrested

Bertrand Earl Jones was taken into police custody earlier today in Montreal. He was arrested at his lawyer's Montreal office.

The case of Canada's Earl Jones and the missing $50 million

In a story with eerie similarities with the Bernie Madoff scandal, Earl Jones, an unlicensed self-styled financial advisor, has disappeared, as has $50 million. Most of the people who claim they were victims are seniors who now say they have nothing.

Bernie Madoff begins serving sentence in North Carolina Prison

Bernie Madoff, the convicted head of the largest Ponzi scheme in history, arrived Tuesday at the federal prison in Butner, North Carolina.

Madoff's wife crying all the way to the bank

Bernard Madoff''s wife Ruth has said she "felt immense pain" for her husband's victims yesterday, the same day Bernard was sentenced to 150 years in jail. She did not attend court, but issued a statement to the press.

Judge talks about angry letters from Madoff victims

On June 29 New York District Judge Denny Chin will pass sentence on self-confessed fraudster Bernard Madoff, a man whose $50 billion (£35 billion) investment scheme robbed many of it's clients of most, and in some instances all, of their life's savings.

Madoff's 'I'm Sorry' Apology May Come Too Late

Before getting hauled off to the slammer, Bernard “Bernie” Madoff said that he is sorry for what has happened. Perhaps the apology was given a wee bit too late as he could face the rest of his life behind bars.

Madoff Goes to Court

After nearly a month of house arrest served in his plush New York City apartment, disgraced financier Bernanrd Madoff appeared in a lower Manhattan court today to answer questions about three potential conflicts of interest.
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Jerimiah Borkowski

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