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Tag Archives: real estate fraud

$11 Million Sacramento Ponzi Suspect Lived it Up in a Lambo

Posted in Ponzi Profiles

A Sacramento man finds himself under the gavel after he possibly splurged others’ fortunes on a lifestyle of champagne riches and caviar dreams. Christopher Jackson, 46, was indicted along with four other co-conspirators by a federal grand jury on a charge of wire fraud in November of 2010, and three years later, his criminal trial is still ongoing…. 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

Ponzi Defendant Was Action Hero

Posted in Ponzi Profiles

In a civil suit filed by the SEC, a federal judge has ruled the activity of Small Business Capital (SB Capital) of Los Alto, CA, to correspond with the markers of a Ponzi scheme. The SBA lender and mortgage company managed to raise $42 million from some 400 investors until an injunction brought forth by… Continue Reading

Accused Scammers Propped Up Dead Resort Project

Posted in Ponzi Profiles

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

Peruvian Real Estate was $30 Million Ponzi

Posted in Ponzi Profiles

A Seattle, WA, man pleaded guilty last week to running a large-scale real estate investment fraud. Jose L. Nino de Guzman Jr., 30, admitted responsibility to charges of wire fraud and money laundering in what the US Attorney’s Office has termed a “classic Ponzi scheme.” He raised $30 million from 200 investors, including family, friends,… Continue Reading

Ponzi Roundup: Two Sentences and Another Delay for Kim Rothstein

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. Julius Blackwelder: Stratford, CT, resident Julius Blackwelder was sentenced to 46 months in prison for perpetrating a $400,000 investment fraud…. Continue Reading

Ponzi Schemer Went Underground at Disney World

Posted in Ponzi Profiles

Jeffrey Kelly of Dublin, OH, has made a plea agreement with federal prosecutors after being accused of operating a $1.5 million Ponzi scheme that left 15 victims in its wake. The 45-year-old Kelly had been indicted last December in US District Court on 17 counts of mail fraud, wire fraud and interstate transport of fraudulently… Continue Reading

SF Real Estate Broker Was Looking Out for Number One

Posted in Ponzi Profiles

San Francisco real estate broker W.B. Coyle has become the subject of intense media scrutiny after what alleged victims assert has been a “decade of deception.” The State of California’s Department of Real Estate filed a complaint against Coyle and his business, charging that the broker engaged in numerous fraudulent practices against clients while managing… Continue Reading

$250 Million Ponzi Scheme Featured Castle Estate

Posted in Ponzi Profiles

James Koenig of Redding, CA, was convicted yesterday of operating a $250 million Ponzi scheme that victimized upwards of 2,000 investors, many of them senior citizens. A jury in Shasta County Superior Court found Koenig guilty on all but one of over three dozen criminal counts he faced. Koenig’s partner in the fraud, Gary Armitage… Continue Reading

Ponzi Schemer Made Not-So-Great Escape

Posted in Ponzi Profiles

Michael Joseph Krzyzaniak of Minneapolis, MN, is back behind bars after a brief escape from a federal prison camp. The 64-year-old Krzyzaniak, convicted last year of mail fraud, money laundering and tax evasion in relation to a $20 million real estate development Ponzi scheme, must have gotten antsy. With nine years left of his sentence… Continue Reading

Man With Own Financial Gravity Had Golden Touch

Posted in Ponzi Profiles

John Bravata advertises himself as “a man with his own gravity” who “spends his time acquiring commercial real estate, merging and turning businesses into gold.” Yet because of a federal indictment, Bravata has little time to enjoy his storied riches, instead making due with testimony about them in US District Court. This week Bravata, accused… Continue Reading

SCI Bankruptcy Trustee Files Adversary Clawback Lawsuit Against 114 Defendants: The Complaint And Its Exhibits Are Over 1800 Pages

Posted in Bankruptcy Clawback News, Legal Representation

Hackard Law attorneys regularly represent plaintiffs and defendants in adversary cases, including clawbacks, in federal bankruptcy courts. The process of representation is often initiated by a preliminary review of our prospective client’s case. A part of this review is the use of the PACER online system (Public Access to Court Electronic Records) made available by… Continue Reading

Ponzi Poster: Lee Loomis Wants You to ‘Get Rich for Sure’

Posted in Ponzi Posters

This week’s Ponzi poster features Roseville, CA “wealth guru” Lee Loomis, indicted for 50 counts of fraud in an alleged $20 million Ponzi scheme. Arrested by the FBI in September 2012, the 55-year-old Loomis is said by federal prosecutors to have defrauded nearly 200 investors through his business entities Loomis Wealth Solutions, Naras Funds and… Continue Reading