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Category Archives: Ponzi Posters

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Ponzi Poster: Lee Loomis Wants You to ‘Get Rich for Sure’

Posted in Ponzi Posters

This week’s Ponzi poster features Roseville, CA “wealth guru” Lee Loomis, indicted for 50 counts of fraud in an alleged $20 million Ponzi scheme. Arrested by the FBI in September 2012, the 55-year-old Loomis is said by federal prosecutors to have defrauded nearly 200 investors through his business entities Loomis Wealth Solutions, Naras Funds and… Continue Reading

Ponzi Poster: “Amazing” Scott Rothstein

Posted in Ponzi Posters, Ponzi Profiles

Like a potent strain of venereal disease, the Scott Rothstein Ponzi case refuses to go away. Three years after the prominent South Florida lawyer’s $1.2 billion fraud imploded, its shock reverberates in the local business community. When Rothstein was raking in hundreds of millions in investor funds for his phony structured settlement program, there was… Continue Reading

Ponzi Poster: Andrew Mackey’s “Wealth Enhancement Club”

Posted in Ponzi Posters, Ponzi Profiles

This week’s Ponzi Poster features the story of Andrew Mackey, convicted for running the Wealth Enhancement Club, an investment program that turned out to be a $12.3 million Ponzi scheme. From 2003-2007 Mackey, once known as one of New York’s biggest pimps in the 1980s, offered 10-20% monthly returns through specially tailored offshore trading for “sophisticated” clients. Unfortunately 160 unsophisticated… Continue Reading

Ponzi Schemer Tim Durham Sentenced to 50 Years in Prison

Posted in Ponzi Posters, Ponzi Profiles

Today in Indianapolis Tim Durham, the convicted Ponzi schemer who ran a massive $200 million fraud and left 5,200 victims in his wake, was sentenced to 50 years in federal prison. Durham acquired and then eviscerated the Ohio-based Fair Finance consumer loan shop, an enterprise funded primarily by elderly investors. Using their money, he enjoyed a lifestyle of champagne wishes… Continue Reading

Ponzi Poster: Lou Pearlman, Boy-Band Ponzi Schemer

Posted in Bankruptcy Clawback News, Ponzi Posters, Ponzi Profiles

This week’s Ponzi Poster features Lou Pearlman, boy-band kingpin and $300 million fraudster extraordinaire. Besides promoting pop-music acts, Pearlman pitched investors a savings program for Trans Continental Airlines, a company supposedly wielding a fleet of 400 aircraft. In reality Trans Con owned around three planes at any given time. Along with being convicted for a massive Ponzi… Continue Reading

Ponzi Poster: ‘Lunatic’ Scott Rothstein

Posted in Ponzi Posters, Ponzi Profiles

This week’s Ponzi Poster features the heavyweight Ponzi schemer Scott Rothstein. A prominent Florida attorney, Rothstein was convicted in 2010 for masterminding a $1.2 billion investment fraud generated through the purchase of phony “structured settlements”. During the halcyon days of his scheme, Rothstein yucked it up with major politicians and celebrities in addition to wallowing in… Continue Reading