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Tag Archives: Indictment

Ponzi Roundup: Accused Schemers Splurged on Tanning

Posted in Ponzi Profiles

Scott Rothstein: The never-ending Rothstein Ponzi saga continues unabated; in the latest news, two former Broward County Sheriff’s deputies have made a plea deal with federal prosecutors. Detective Jeff Poole, 47, and Lieutenant David Benjamin, 48, acted as Rothstein’s personal enforcers during the height of his power – when the master schemer had virtual carte… Continue Reading

Wannakuwatte: What Might a Plea Agreement Look Like?

Posted in Bankruptcy Clawback News, Legal Representation, Ponzi Profiles

Deepal Wannakuwatte has been accused of masterminding a $150 million-plus Ponzi scheme, and he’s set to change his plea to guilty on May 1st in US District Court in Sacramento. Wannakuwatte’s indictment, however, doesn’t present the full array of charges that could be levelled against him; rather, it is limited to two counts of bank… Continue Reading

.44 Magnum Scheme Shot Down Over Fraud Charges

Posted in Ponzi Profiles

A Colorado man has been charged with wire fraud and money laundering in an epic clown prime bank scheme. Peddling something called the “.44 Magnum Leveraged Financing Program,” 58-year-old Boulder-area bozo resident Geoffrey Lunn was able to pull off an investment fraud that flushed away $5.77 million from 70 investors, federal authorities say. Prior to… 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

Rothstein Partner Indicted on Campaign Corruption Charges

Posted in Ponzi Profiles

With the clock ticking on possible further indictments in the $1.4 billion Scott Rothstein Ponzi case, a major figure in the affair has been charged with conspiracy this morning. Russell Adler, Rothstein’s former co-partner at the now-infamous Fort Lauderdale law firm Rothstein Rosenfeldt Adler (RRA), was presented with a criminal information filed in US District… Continue Reading

Guilty Plea in “Janitor” Ponzi Scheme

Posted in Ponzi Profiles

A Long Island woman has decided to admit responsibility for carrying out a $6.9 million Ponzi scheme. Within the framework of a plea deal with federal prosecutors, 39-year-old Laurie Schneider, a resident of Oceanside, pleaded guilty to one count of wire fraud in US District Court on Friday. In the course of her scheme, Schneider… Continue Reading

Ponzi Indictment for “Financial Rock Star”

Posted in Ponzi Profiles

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

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

An Officer and a Ponzi Schemer?

Posted in Ponzi Profiles

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

Special Investment Formula Was Ponzi Scheme

Posted in Ponzi Profiles

A Cincinnati, OH, hedge-fund manager has struck a plea bargain with federal prosecutors after being charged with running a $100 million-plus Ponzi scheme. Glen Galemmo, the focus of local media attention beginning with the shuttering of his business this summer, has agreed to admit guilt on counts of wire fraud and money laundering in US… Continue Reading

Indictment Issued for Prime Bank Buffoonery

Posted in Ponzi Profiles

Want to make $10 million on an investment of just $60,000? So do we, and creative finance extraordinaire Frank Geivelis would be happy to show us how. Unfortunately, though, Geivelis is otherwise detained at the moment. The 34-year-old Florida resident, also known as Fotios Geveilis and Frank Anastasios, has been indicted in US District Court… 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

“Fly High Investments” Crashed Hard

Posted in Ponzi Profiles

A Miami, FL, man is facing up to 20 years in prison after admitting he engineered an investment fraud scheme. Daniel Paez, 27, managed to raise half a million dollars from at least 17 investors in multiple states, but it turned out he was running a scam. After coming under indictment in US District Court… Continue Reading