Header graphic for print

Tag Archives: FBI

Lawyer Charged in Ponzi Scheme on the Run, Considered “Armed and Dangerous”

Posted in Ponzi Profiles

A Fort Lauderdale, FL, lawyer facing Ponzi scheme-related charges has been declared wanted by the FBI after skipping out on a scheduled hearing in US District Court two weeks ago. 67-year-old Michael Ralph Casey, whose whereabouts are unknown, is said to be “armed and dangerous” by federal authorities seeking him. Casey had been indicted in… Continue Reading

Wannakuwatte Guilty; Endangered Community with $150 Million Ponzi

Posted in Legal Representation, Ponzi Profiles

Today in US District Court, Deepal Wannakuwatte, a well-known Sacramento businessman and former owner of the Sacramento Capitals tennis team, pleaded guilty in connection to masterminding a $150 million Ponzi scheme that defrauded dozens of investors. He admitted responsibility to a count of wire fraud presented by FBI agents in a February criminal complaint, making… 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

Wannakuwatte’s Victims: Safe from Further Harm?

Posted in Legal Representation

Lawyers representing Ponzi victims must have a basic understanding of the complicated interplay between criminal actions against perpetrators, potential bankruptcy and tax effects on victims, and the possibilities of civil litigation against perpetrators, other victims and aiders and abettors. While no single lawyer is likely to know the intricacies of each legal process, every lawyer… 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

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

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

Spy Preacher Gets Off Easy in Ponzi Case

Posted in Ponzi Profiles

Southern California’s most sensational spy preacher and Ponzi schemer was granted a light sentence yesterday in US District Court in Orange County. Dr. Moses Onciu, 57, was facing an extended stint in prison after being found guilty on charges of conspiracy and wire fraud in October of last year. A travelling minister who intimates he… Continue Reading

Ponzi Operator Reportedly Posed as Vice Detective

Posted in Ponzi Profiles

After being arrested for impersonating a police officer and sexually assaulting an escort, a Berlin, CT, man has been exposed as a Ponzi schemer this week. 55-year-old Frank Mete may have occupied himself with a rather peculiar set of extracurricular activities, but it’s now been established in US District Court that he was also busy… Continue Reading

“Fed” Money Slingers off to Prison

Posted in Ponzi Profiles

With the Federal Reserve in the habit of issuing a monthly $85 billion to our nation’s beloved banks through bond purchases, it’s understandable if Joe Citizen might have a difficult time differentiating which dog-and-pony shows carry the stamp of legitimacy in our economy and which are officially fraudulent. Thankfully, the FBI and US Attorney’s Office… Continue Reading

Spy Preacher Has Sensational Investment for You

Posted in Ponzi Profiles

An Arizona man has been found guilty of conspiracy and wire fraud in US District Court- this according to the Orange County paper OC News. 57-year-old Dr. Moses Onciu, a resident of Fountain Hills, has seen his trial finally wind down after originally being indicted for attempting a rather audacious high-yield investment scam in 2008…. Continue Reading

Sacramento Residents Continually Targeted by Investment Fraud

Posted in Legal Representation, Ponzi Video

The Sacramento area is unfortunately no stranger to investment fraud, as the news headlines regularly attest. Scammers use a variety of techniques and ruses to steal other people’s money under the guise of business ventures, oftentimes preying upon affinity groups like ethnic communities and churches. The Greater Sacramento Area includes seven California counties: Sacramento, Yolo,… Continue Reading

Lawyer in Ponzi Diamond Caper Gets 3 Years

Posted in Ponzi Profiles

Another page was turned in Scott Rothstein’s never-ending Ponzi story when lawyer Scott Saidel was sentenced to 3 years in federal prison. The verdict was issued in Fort Lauderdale yesterday by US District Judge Robin Rosenbaum after the 46-year-old Saidel had pleaded guilty to money laundering, obstruction and witness tampering. Saidel was the attorney for… Continue Reading

UConn Basketball Star Pulled Ponzi Scheme

Posted in Ponzi Profiles

Given America’s abiding admiration for the intellectual prowess and ironclad ethical integrity of basketball players, the country was shocked to learn that one its hoopster heroes had been convicted yesterday for running an investment scam. C. Tate George, 45, was found guilty in US District Court on four counts of wire fraud after pulling off a $2 million Ponzi… Continue Reading

Monster Ponzi Scheme Targeted Japanese Investors, Charges SEC

Posted in Ponzi Profiles

The SEC has leveled civil action against a Las Vegas, NV, man for what it says was a giant Ponzi scheme that exploited investors in Japan. Edwin Fujinaga, 66, is accused of engineering an $800 million investment fraud through the supposed purchase and profitable turnover of medical accounts receivable. Federal regulators allege that Fujinaga defrauded… Continue Reading

Man Pulled Scam to Fund Judgeship Bid

Posted in Ponzi Profiles

An Atlanta-area lawyer pleaded guilty last week in US District Court to a charge of wire fraud after operating a $1.35 million scam. In a case of creative campaign financing, 35-year-old Michael Rothenberg was apparently so eager to land a seat on DeKalb County’s Superior Court that he concocted a bogus investment program in order… Continue Reading

Rags-to-Riches “Investment Wunderkind” Admits Fraud

Posted in Ponzi Profiles

Once billing himself as the country’s youngest-ever African-American hedge fund manager, 29-year-old Fredrick Douglas Scott must now face the music of federal prison time after reaching a plea agreement with the US Attorney’s Office. Last week Scott admitted that he scammed several investors out of $1 million through a bogus bridge-loan program. He had originally… Continue Reading