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Tag Archives: Hedge-fund fraud

Ponzi Indictment for “Financial Rock Star”

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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

An Officer and a Ponzi Schemer?

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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

Rags-to-Riches “Investment Wunderkind” Admits Fraud

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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

High School Girls Hoops Coach Pitched Winning Investment Program

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A San Diego, CA, man is in jail on charges of perpetrating an investment scam. 42-year-old Rodolfo “Rudy” Villareal, formerly the girls basketball coach at local Westview High School, was arrested last week after his indictment in US District Court on several counts of wire fraud and conspiracy. Federal prosecutors have indicated that Villareal managed… Continue Reading

“Financial Rock Star” in Trouble with SEC

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Cleveland’s self-styled hedge fund whiz kid Anthony Davian is facing federal civil action after an in-depth investigative report from last month exposed potential fraud in his operations. Davian, 34, has come under the scrutiny of the SEC, which alleges that several clients were taken to the cleaners for at least $1.5 million under the auspices… Continue Reading

Marine Vet Pulled Hedge Fund Scam, Says SEC

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A former Marine is the subject of an SEC complaint for allegedly scamming fellow veterans through his hedge fund business. 26-year-old Clayton Cohn, a Chicago resident and one-time infantry machine gunner who served two tours in Iraq, is accused by the regulatory agency of perpetrating a $1.8 million fraud against 24 investors that included current… Continue Reading

Accused Scammers Propped Up Dead Resort Project

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Two Long Island men have been indicted on charges of conspiracy, wire fraud and securities fraud in what federal prosecutors say was a $96 million Ponzi scheme. Brian Raymond Callahan, 43, and his brother-in-law Adam Manson, 41, are alleged to have operated a complex investment scam that ensnared at least 40 victims. The pair will… Continue Reading

Admitted Ponzi Schemer Now Denies Guilt

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Anthony Vassallo of Folsom, CA, is seeking to withdraw his guilty plea from US District Court after having made a plea agreement with federal prosecutors earlier this year. In February the 33-year-old Vassallo admitted responsibility for running an $83 million Ponzi scheme that racked up $45 million in damages to 300 victims. Vassallo’s attorney told… Continue Reading

Pretend Hedge-Fund Star Left $4,000 Tip at Hollywood Nightclub “Specifically for Business”

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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

Hedge-Fund Fraudster Flew off with Half a Billion

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Helmut Kiener, convicted in his native Germany for running a $500 million hedge-fund Ponzi scheme, has now been indicted in the United States on multiple counts of fraud and money laundering. He is currently sitting out a 10-year sentence in a German prison. Last week the US Attorney’s Office in Philadelphia alleged that from 2005… Continue Reading