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Tag Archives: Arrest

Rothstein Super Troopers Charged

Posted in Ponzi Profiles

New light is being shed on some of the alleged official corruption that intertwined with the Scott Rothstein Ponzi case when two high-ranking deputies in the Broward County Sheriff’s office were charged with conspiracy in US District Court last Friday. Federal prosecutors filed criminal informations against Lt. David Benjamin, 48, and Detective Jeff Poole, 47. Benjamin… Continue Reading

Rothstein CFO Latest to Be Charged

Posted in Ponzi Profiles

As the clock winds down on possible indictments in Scott Rothstein’s $1.2 billion Ponzi scheme, the super scammer’s “right hand” is the latest to face charges in the case. Irene Shannon (maiden name Stay) is the subject of a criminal information filed in US District Court in Miami. Federal prosecutors say the 50-year-old Shannon, the… Continue Reading

Wannakuwatte’s Helpers: Who, What & When

Posted in Ponzi Profiles

The civil case against Deepal Wannakuwatte will not stop with a guilty plea in his criminal matter. The pursuit of truth will continue, and the classic questions featuring in any thorough investigation will endure. What happened? The Wannakuwatte Ponzi scheme is at least $125 million and a dozen years in the making. Civil investigations of… Continue Reading

.44 Magnum Scheme Shot Down Over Fraud Charges

Posted in Ponzi Profiles

A Colorado man has been charged with wire fraud and money laundering in an epic clown prime bank scheme. Peddling something called the “.44 Magnum Leveraged Financing Program,” 58-year-old Boulder-area bozo resident Geoffrey Lunn was able to pull off an investment fraud that flushed away $5.77 million from 70 investors, federal authorities say. Prior to… Continue Reading

Wannakuwatte Arraignment Tomorrow

Posted in Ponzi Profiles

Deepal Wannakuwatte, the Sacramento businessman indicted for allegedly running a $125 million-plus Ponzi scheme through his companies IMG and RelyAid, will be arraigned tomorrow in US District Court. An attorney from Hackard Law will be present at the proceedings. Wannakuwatte’s arraignment is set for 2 PM on the Magistrate calendar. Here is the address for… Continue Reading

Wanna Know More About Wannakuwatte?

Posted in Ponzi Profiles

Accused Ponzi schemer Deepal Wannakuwatte has been formally indicted on three counts of bank fraud. The 63-year-old Wannakuwatte, once the owner of the Sacramento Capitals tennis team, was presented with the charges yesterday in US District Court in Sacramento. He is alleged to have defrauded multiple investors of at least $125 million through his medical… Continue Reading

Justin Bieber Scam Nets 11 Years in Prison

Posted in Ponzi Profiles

For some utterly mysterious reason, modern civilization is expected to care about the everyday comings and goings of a young man – and this is what passes for a man today – named Justin Bieber. A singing sensation to tween and teenage girls (“beliebers”), Bieber is an insidiously inescapable phenomenon. Anyone following the news is… Continue Reading

Ponzi Indictment for “Financial Rock Star”

Posted in Ponzi Profiles

A Cleveland, OH, hedge fund manager has come under indictment for allegedly pulling off a $2 million Ponzi scheme. 34-year-old Anthony Davian, having once billed himself as a “financial rock star,” now faces multiple charges of fraud and money laundering in US District Court. Federal prosecutors say Davian was able to convince at least 20… Continue Reading

Wannakuwatte Detention Hearing Scheduled for Tomorrow

Posted in Ponzi Profiles

Deepal Wannakuwatte, the Sacramento businessman accused of masterminding a $125 million Ponzi scheme, will have his detention hearing tomorrow in US District Court in Sacramento. Wannakuwatte, the 63-year-old head of International Manufacturing Group (IMG) and related enterprises like RelyAid, will have the possibility of his bail reviewed by Magistrate Judge Allison Claire. He is already… Continue Reading

Medical Glove Company’s $125 Million Secrets Unfolding, Says Hackard Law

Posted in Legal Representation

SACRAMENTO, Calif., Feb. 24, 2014 — /PRNewswire/ — Many investors in Deepal Wannakuwatte’s enterprises considered him to be a friend, both loyal and charming. Charges in a Sacramento federal criminal complaint, if proven, would expose him as a liar, a cheat and a fraud. “My phone started ringing early Saturday morning,” says Michael Hackard of… Continue Reading

Alleged IMG Ponzi Scheme Carries Potentially Devastating Consequences for Sacramentans, Says Hackard Law

Posted in Ponzi Profiles

In addition to being a land of opportunity, America is also a land overwhelmed by Ponzi schemes that have wreaked $50 billion worth of devastation on American investors over the last six years. Sacramento investors, small and large, have not escaped the devastation. Now ominous signs point to an enormous Ponzi scheme that threatens the… Continue Reading

Alleged Fake Movie Scheme Brings Indictment

Posted in Ponzi Profiles

Four men in Hollywood have come under federal indictment for allegedly scamming investors in a fake movie project that resulted in $1.8 million in losses. The US Attorney’s Office says that Samuel Braslau, 53; Rand Jay Chortkoff, 64; Stuart Rawitt, 47; and Robert Matias, 50, were running a telemarketing fraud that flushed away the money… Continue Reading

Indictment in Alleged $110 Million CA Ponzi Scheme

Posted in Ponzi Profiles

Two developers have been arrested by FBI agents over an alleged $110 million real estate Ponzi scheme that enveloped Southern California. Long Beach resident John Packard, 63, and Phoenix resident Michael Stewart, 66, had their January indictment released to the public yesterday by federal prosecutors. The two each face 11 counts of wire fraud, three… Continue Reading

Accused Ponzi Schemer Stockpiled Arsenal

Posted in Ponzi Profiles

A Philadelphia, PA, man indicted for allegedly operating a Ponzi scheme is now back in US District Court on weapons charges. Istvan Merchenthaler, 43, this time faces counts of possessing unregistered firearms and being a fugitive in possession of a weapon. His colleague Ryan Hibrick, 32, was also charged in the matter. Merchenthaler was arrested… Continue Reading

An Officer and a Ponzi Schemer?

Posted in Ponzi Profiles

A New York City man has been indicted on charges of investment fraud in Manhattan Superior Court after he is said to have stolen $1.2 million from his friends in a Ponzi scheme. 50-year-old Bryan Caisse, a graduate of the US Naval Academy class of 1985 and one-time weapons officer on the special warfare submarine… Continue Reading

Magical Investment Scheme Brings Fraud Charges

Posted in Ponzi Profiles

A Staten Island, NY, woman is facing separate criminal and civil actions in two jurisdictions of US District Court for what federal prosecutors say was a $2 million investment scam. Ishita Ganguly, the ex-wife of “Big Sexy Hair” CEO Jim Morrison, must answer to criminal counts of securities fraud, wire fraud and money laundering in… Continue Reading

Guilty Plea in Star Trek Scam

Posted in Ponzi Profiles

An Illinois resident decided to plead guilty to a count of wire fraud in US District Court today after pulling a $25 million investment scam. Howard Leventhal, 56, admitted responsibility for the scheme before a federal judge in Brooklyn, but his trail of fraud stretched from the Midwest and Canada all the way to Florida…. Continue Reading