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Tag Archives: commodity pool

Ponzi Roundup: Two Sentences and Another Delay for Kim Rothstein

Posted in Ponzi Profiles

With a high volume of relevant stories from cases we’ve previously covered, Ponzi Clawbacks is delivering a news roundup today. This feature will likely be periodic during the resolution of multiple cases from Ponzi Profiles. Julius Blackwelder: Stratford, CT, resident Julius Blackwelder was sentenced to 46 months in prison for perpetrating a $400,000 investment fraud…. Continue Reading

“Major Play Fund” Was Major League Fraud

Posted in Ponzi Profiles

A North Carolina man has agreed to plead guilty to charges of securities fraud brought forward by the US Attorney’s Office in Charlotte. Vass resident James Alexander Shepherd, 58, admitted responsibility for running a $6 million scam that defrauded 176 investors. While the sum of claims is still be determined, Shepherd has agreed to pay restitution to victims… Continue Reading

Man’s Commodity Trading Robot Wasn’t Real

Posted in Ponzi Profiles

The operators of an unregistered commodity pool have been ordered to cough up millions in penalties for running what regulators say was a $28.4 million Ponzi scheme that swindled 2,000 victims. US District Court Judge Daniel Hurley ruled in a CFTC suit that Philip Milton of Palm Beach Gardens, FL, must pay $10.8 million in… Continue Reading

Man Operated Ponzi Scheme out of Trump Tower

Posted in Ponzi Profiles

Chicago resident Christopher Varlesi, 53, was sentenced last week in US District Court to 5 years in federal prison for running a Ponzi scheme. Varlesi, who admitted guilt in a plea agreement with prosecutors in December 2012, managed to raise approximately $1.5 million from 18 investors, many of them family and friends, ostensibly for use… Continue Reading

How High Was Ponzi Schemer?

Posted in Ponzi Profiles

In certain cases of fraud one cannot but suspect the influence of narcotics, giving new meaning to high-yield investment programs. When a con-man formulates outrageous rates of return that would have the late, great Charles Ponzi rolling in his grave from laughter, we can only ask the question, “How high was this guy?” Such has… Continue Reading

Fraudster Exploited Deaf Community in Commodities Ponzi Scheme

Posted in Ponzi Profiles

California resident Marc Perlman has been ordered by a federal judge in the Southern District of New York to pay a hefty penalty and restitution to victims for operating a commodity pool Ponzi scheme. Through his company iGlobal Strategic Management, Perlman solicited investments for trading leveraged off-exchange foreign currency contracts. From 2009 to 2011, under the… Continue Reading