Posts Tagged ‘scam’

Jury clears way to go after Stanford’s foreign bank accounts

HOUSTON, Texas — A Texas jury cleared the way yesterday for U.S. authorities to go after $330 million in stolen investor funds sitting in frozen foreign bank accounts controlled by convicted Ponzi schemer R. Allen Stanford. The jury, which convicted the former tycoon on 13 of 14 fraud-related counts earlier this week, found there to […] [...]

After more than a decade, federal judge schedules Frankel trial

by Published: February 27,2012

Tags: courts, fraud, insurance, judge, judicial, judiciary, scam, scheme

JACKSON — More than a decade after it was filed, a federal judge in Mississippi has set a tentative trial date in a lawsuit stemming from scams run by a notorious financier who looted $200 million from insurance companies and created a charity that claimed to have Vatican connections to further his scheme and cover […] [...]

Judge postpones ex-NFL player’s sentencing for fraud

MADISON — A federal judge has put off a former NFL player’s sentencing to give prosecutors time to notify possible fraud victims in Mississippi, Tennessee, Florida and Arizona. The Clarion-Ledger reports that the amount of Jeffrey Walker’s restitution payment will depend on the number of victims. Sentencing had been scheduled for last Friday. Federal assistant […] [...]

FBI issues alert on federal grant scam

ACROSS MISSISSIPPI — The FBI has warned Mississippi residents of a telephone scam that claims the person is eligible for a $5,000 to $10,000 grant from the Grants Department of the federal government. It supposedly can be used for home or residential purposes. The FBI says in a statement that a claim code containing two […] [...]

Hawaii man charged with post-Katrina investment scheme

MISSISSIPPI GULF COAST — Federal officials say a man in Hawaii has been charged by a grand jury in connection with an investment scheme related to rebuilding projects in areas of Mississippi affected by Hurricane Katrina. A Justice Department news release from the Jackson FBI office identifies the man as 54-year-old Dan Doyle, a resident […] [...]

Stanford’s Ponzi scheme trial to begin today in Texas

by Published: January 24,2012

Tags: courts, financier, fraud, investing, investment, investor, ponzi, scam, scheme

HOUSTON, Texas — Texas financier R. Allen Stanford built a vast fortune through his network of banks and other businesses in the U.S., Latin America the Caribbean, and led a lifestyle befitting a billionaire business magnate. Once considered one of the U.S.’s wealthiest people, with an estimated net worth of more than $2 billion, Stanford […] [...]

Payton, Brees, Manning among Saints taken by scammer

NEW ORLEANS — Unlike this season’s winning on the football field, current and former members of the New Orleans Saints who bought nonexistent tax credits from a defunct movie studio are likely to come out big losers — perhaps getting back only 15 percent of their investment. The Saints personnel — including coach Sean Payton, […] [...]

Texans face prison for Ponzi scheme involving ex-NFL player

SAN ANTONIO, Texas — Two people in South Texas face up to 18 years in prison over a Ponzi scheme involving ex-NFL player T.J. Slaughter and other investors. Alan Keith Nelsen and Mary Alice Monteza pleaded no contest in San Antonio to setting up a fake international investing firm. Slaughter in 2009 filed a complaint […] [...]

SEC asks court to decide on compensation to Stanford victims

WASHINGTON — The Securities and Exchange Commission (SEC) has asked a federal court to determine whether the Securities Investor Protection Corp. should provide compensation to victims of a Ponzi scheme perpetrated by the Stanford Group. Sen. Thad Cochran (R-Miss.) has supported efforts to have the SEC and SIPC address the losses incurred by investors, including […] [...]

State’s action against Morgan Keegan workers settled

JACKSON — An administrative action against Morgan Keegan & Company employees and Morgan Asset Management employees, Brian B. Sullivan, Gary Stringer, and Michele Wood has been resolved with the State of Mississippi, according to the Secretary of State’s Office. No Mississippi Morgan Keegan brokers were involved in this action. The order resolving the case is […] [...]

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