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Tag Archives: Forex

Former Deputy Sentenced for Ponzi Scheme

Posted in Ponzi Profiles

A former El Paso County, CO, sheriff’s deputy was sentenced in US District Court to 2.5 years in prison Tuesday for running a Ponzi scheme. David N. Hawkins, 44, had operated a bogus foreign exchange investment program that bilked 73 victims, some of them his colleagues in law enforcement, out of $1.2 million. Hawkins had… Continue Reading

Preachers on Party Bus Peddled Smoking Hot Returns

Posted in Ponzi Profiles

This week victims of the ‘3 Hebrew Boys’ scam learned they are set to receive $2.5 million more in recovered funds. Court-appointed receiver Beattie Ashmore, working out of Greenville, SC, announced that this latest round of recompense would probably be the last, barring any discovery of other money stashed away by the fraudsters. Last year… Continue Reading

Ponzi Roundup: Stiff Sentences and Civil Judgment

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. Qaisar Madad: Diamond Bar, CA, resident Syed Qaisar Madad was sentenced to 12 years and 7 months in prison for… Continue Reading

Man Operated Ponzi Scheme out of Trump Tower

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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

Fake Navy SEAL was on Ponzi Mission

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Tiburon, 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 Profiles

George 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