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
Tag Archives: Forex
Man Indicted in Forex Ponzi Promised “Outrageous” Fortune
Posted in Ponzi ProfilesGraham, NC, resident James H. Mason has come under federal indictment for masterminding what the US Attorney says was a $4.7 million Ponzi scheme. Mason, 66, allegedly defrauded 500 investors through a phony foreign currency trading operation he represented as an astounding success approaching the glory of the 1972 Miami Dolphins. From 2010 to 2013… Continue Reading
Fake Navy SEAL was on Ponzi Mission
Posted in Ponzi ProfilesTiburon, CA, resident and phony US Navy SEAL Glenn Kane Jackson decided to make a plea deal with local prosecutors after facing charges that he stole $3 million from investors in the course of a Ponzi scheme. The 46-year-old Jackson admitted guilt on 27 counts of securities fraud and grand theft before his trial was… Continue Reading
Pretend Hedge-Fund Star Left $4,000 Tip at Hollywood Nightclub “Specifically for Business”
Posted in Ponzi ProfilesGeorge Sepero of Glen Rock, NJ, has pleaded guilty to multiple charges of fraud in connection with a $3.5 million Ponzi scheme. The 40-year-old Sepero ran a web of phony hedge funds and foreign currency trading accounts in collusion with fellow New Jersey residents Carmelo Provenzano, 29, and Daniel Dragan, 41. Both Provenzano and Dragan… Continue Reading
Legacy of Forex “Legend” Rocked by Ponzi Allegations
Posted in Ponzi ProfilesA self-proclaimed “living legend” of foreign currency trading possibly committed suicide to avoid the consequences of an alleged $40 million Ponzi scheme. Yakima, WA resident Dan Gaub died on May 4th, 2012 after crashing his motorcycle into a semi truck. The 53-year-old Gaub claimed to be an experienced forex trader who could produce 4% monthly… Continue Reading