Ponzi scheme

BitConnect Charged With $2B Crypto Fraud
Technology

BitConnect Charged With $2B Crypto Fraud

The crypto exchange platform allegedly misrepresented to investors that it would deploy their funds to trade bitcoin using a proprietary bot.
By Matthew Heller | September 2, 2021
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Steering Clear of Ponzi Schemes
Risk & Compliance

Steering Clear of Ponzi Schemes

Recent examples show Ponzi schemes are still very prevalent and leave significant investor losses and hardships in their wake.
By Vincent Ryan | August 10, 2021
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Solar Firm Owners Charged With ‘Massive’ Fraud
Risk & Compliance

Solar Firm Owners Charged With ‘Massive’ Fraud

The owners of DC Solar raised nearly $910 million by selling investors solar generators that did not exist, the SEC said.
By Matthew Heller | January 27, 2020
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Bitcoin Trader Accused of $600K Ponzi Scam
Risk & Compliance

Bitcoin Trader Accused of $600K Ponzi Scam

Nicholas Gelfman allegedly solicited investors with false claims that he would generate a 7% to 9% monthly return from a fund for trading Bitcoin.
By Matthew Heller | September 22, 2017
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‘Bar Works’ Founder Charged with Fraud
Risk & Compliance

‘Bar Works’ Founder Charged with Fraud

As of Friday, Renwick Haddow, who also founded a scam bitcoin platform, was on the run and considered a fugitive.
By William Sprouse | July 10, 2017
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TelexFree Founder Pleads Guilty to Massive Scam
Risk & Compliance

TelexFree Founder Pleads Guilty to Massive Scam

James Merrill admits to participating in a Ponzi scheme that promised annual returns of 200% or more to "promoters" of TelexFree's internet phone service.
By Matthew Heller | October 25, 2016
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Ex-College Football Star Accused of $6M Fraud
Risk & Compliance

Ex-College Football Star Accused of $6M Fraud

Merrill Robertson and his partner in an investment firm allegedly stole from investors to finance their "luxurious" lifestyles.
By Matthew Heller | August 11, 2016
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‘Boutique’ Firm Accused of $10M Ponzi Scheme
Risk & Compliance

‘Boutique’ Firm Accused of $10M Ponzi Scheme

The SEC says JSG Capital targeted retail investors, promising high-return investment opportunities “previously only available to the one-percenters.”
By Matthew Heller | June 1, 2016
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U.S. Man Accused of Jamaican Bridge Loan Scam
Risk & Compliance

U.S. Man Accused of Jamaican Bridge Loan Scam

The former chairman of a Jamaican call center company allegedly operated a Ponzi scheme that raised $10 million from at least 21 investors.
By Matthew Heller | March 16, 2016
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Investment Group Accused of ‘Ponzi-Like’ Fraud
Risk & Compliance

Investment Group Accused of ‘Ponzi-Like’ Fraud

Aequitas Management's ex-CFO and other top executives allegedly raised $350 million from investors while concealing the group's dire financial problems.
By Katie Kuehner-Hebert | March 11, 2016
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Chinese P2P Lender Accused of $7B Ponzi Scheme
Risk & Compliance

Chinese P2P Lender Accused of $7B Ponzi Scheme

The Ezubao online lending platform allegedly bilked nearly one million investors, raising concerns over confidence in the security of such investments.
By Katie Kuehner-Hebert | February 1, 2016
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PwC to Pay Investors $55M Over Madoff Losses
Risk & Compliance

PwC to Pay Investors $55M Over Madoff Losses

The settlement averts a trial of investor claims that PwC failed to properly audit the books of the largest operator of "feeder funds" to Madoff.
By Matthew Heller | January 8, 2016
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Pharma Exec Shkreli Accused of Hedge Fund Fraud
Risk & Compliance

Pharma Exec Shkreli Accused of Hedge Fund Fraud

Martin Shkreli raided his pharmaceutical companies to cover up his hedge fund trading losses, said federal prosecutors.
By Matthew Heller | December 18, 2015
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Finance Roundup for Executives
Corporate Finance

Finance Roundup for Executives

Be informed, get involved, and shape the world through finance. Here's today's CFO roundup.
By Kerry Maruna | December 2, 2015
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Ernst & Young Found Liable for Madoff Losses
Risk & Compliance

Ernst & Young Found Liable for Madoff Losses

The Big Four firm could be on the hook for $25 million in damages for failing to properly audit a Madoff feeder fund.
By Matthew Heller | November 16, 2015
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