All Ponzi scheme articles
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ArticleEx-chief compliance officer pleads guilty in Ponzi scheme
Vania May Bell, the former chief compliance officer and controller of Executive Compensation Planners, pleaded guilty for participating in a Ponzi scheme with her father that defrauded clients out of more than $11 million.
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Article
Hedge fund manager/CCO sentenced 4 years for ‘Ponzi-like’ scheme
Jason Rhodes, the co-founder and chief risk and compliance officer of a Connecticut-based investment fund, was sentenced to 48 months in prison and ordered to pay more than $25 million in restitution for his role in a “Ponzi-like” scheme.
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Article
Ponzi scheme mastermind Bernie Madoff dead at 82
Disgraced financier Bernie Madoff, whose decades-long fraud swindled thousands of investors out of billions of dollars, died in federal prison Wednesday.
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Article
SEC requests independent monitor in GPB Capital case
The SEC has requested the appointment of an independent monitor to oversee GPB Capital Holdings amid allegations the asset management firm defrauded more than 17,000 retail investors in a “Ponzi-like” scheme.
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Article
SEC: GPB Capital operated ‘Ponzi-like’ scheme, retaliated against whistleblower
GPB Capital Holdings allegedly defrauded more than 17,000 retail investors in a Ponzi-like scheme, then attempted to impede an employee from blowing the whistle on the illegal practices, according to the SEC.
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Article
Bipartisan effort would double SEC statute of limitations for fraud
Senators Mark Warner (D-Va.) and John Kennedy (R-La.) have introduced the Securities Fraud Enforcement and Investor Compensation Act—the bipartisan legislation that would extend the window of time the SEC can pursue post-fraud claims for investors from five years to 10.
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Blog post
Court orders $1B judgment against operators of Woodbridge Ponzi scheme
A federal court in Florida has ordered Woodbridge Group of Companies and its former owner to pay $1 billion in penalties and disgorgement for operating a Ponzi scheme that targeted retail investors.
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Blog post
SEC charges operators of $1.2B Ponzi Scheme
The Securities and Exchange Commission announced charges and an asset freeze against a group of unregistered funds and their owner who allegedly bilked thousands of retail investors in a $1.2 billion Ponzi scheme.
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Blog post
Raymond James to pay $150M to resolve fraud scheme
Raymond James Financial has reached a $150 million settlement to resolve all investor claims that the firm stole and misused millions of dollars raised through investments solicited under the federal EB-5 visa program.
