Ponzi Scheme Series: FBI Charges New Jersey Real Estate Investment Promoter Eliyahu Weinstein with Operating a Ponzi Scheme

August 12, 2010

According to the FBI complaint, Eliyahu Weinstein operated a Ponzi scheme in New Jersey beginning as early as September 2005 through an entity called Pine Projects, LLC. It appears that at least $200 million of investor capital has been lost. Like many other Ponzi schemes, Weinstein preyed on his own kind. He is an observant [...]

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VICTIMS OF INVESTMENT FRAUD ARE MORE LIKELY TO RELY ON THEIR OWN EXPERIENCE AND KNOWLEDGE WHEN MAKING INVESTMENT DECISIONS

August 12, 2010

August 12, 2010 by Jeffrey Wittenberg, Esq. This morning, like virtually every morning for the last year, I woke up to a news report that the federal government has shut down a Ponzi scheme.  Like many before it, this Ponzi scheme was a so-called “affinity” scam, meaning that the investment promoter was of the same [...]

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Ponzi Scheme Series: SEC Shuts Down Ponzi Operation in Canton, Michigan

August 9, 2010

Last week, the Securities and Exchange Commission (SEC) filed a complaint in the U.S. District Court, Eastern District of Michigan, against C.J.’s Financial and, its Chief Financial Officer, Candice D. Campbell, alleging that Campbell has been running a Ponzi scheme out of Canton, Michigan. According to the SEC, Campbell has raised at least $1 million [...]

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Ponzi Scheme Series: Federal Prosecutors Charge Santa Ana Investment Adviser with Operating a Ponzi Scheme

August 6, 2010

According to the Associated Press, Federal prosecutors have charged a Southern California investment adviser on charges he bilked elderly residents in a $6 million Ponzi scheme. Richard H. Nickles, the owner of Innovative Advisory Services in Santa Ana, was charged late Thursday with four counts of mail fraud and two counts of securities fraud. The [...]

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SEC Shuts Down Orange County, California, Penny Stock Boiler Room Operation

August 6, 2010

On August 4, 2010, the Securities and Exchange Commission (SEC) filed a complaint in the U.S. District Court, Central District of California, alleging that Kensington Resources, Inc. through its principals, Joseph R. Porche and Larry R. Crowder and sales agents, Konrad C. Kafarski, Carlton L. Williams, Gary K. Juncker and Dale J. Engelhardt raised over [...]

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