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Tax Lawyer > Blog > Domestic Tax Planning > Current Ponzi Schemes & Reference Information

Current Ponzi Schemes & Reference Information

1. Gurudeo “Buddy” Persaud

Ponzi Scheme Information

  • Orlando broker
  • astrology-based investment methods
  • reportedly told his clients that he would be investing their money in debt, stock, futures, and real estate markets. In reality, he has subscribed to the idea that gravitational forces affect human behavior and, in turn, the stock market
  • worked with at least 14 investors between July 2007 and January 2010 and according to the SEC complaint, he told them that the fund was risk-free.
  • he misappropriated around $415,000 — nearly half of the investment money — for his own personal use. The claim goes on to say that Persaud worked in “typical Ponzi scheme fashion” by repaying earlier investors with money he brought in from new investors.
  • White Elephant Trading Company

References

2. James Davis Risher

Ponzi Scheme Information

  • victims were spread out across eight US states and Canada, although most were concentrated near Lakeland, Florida.
  • sentenced to 19 years and 7 seven months in federal prison for mail fraud, money laundering, and engaging in an illegal monetary transaction
  • court also ordered Risher to forfeit a 2007 Lexus, a 2008 Lexus, a 2008 Smart Car, ten pieces of diamond and other jewelry, and a painting, which are traceable to proceeds of the offenses
  • court also entered a money judgment in the amount of $12.4 million – proceeds obtained by Risher, as part of the charged criminal conduct
  • Risher pleaded guilty on September 9, 2011
  • private equity fund, referred to as the Preservation of Principal Fund.
  • funds would be held at Penson Financial Services, Inc.
  • At least 106 victim-investors transmitted more than $21 million for investment in the purported fund.
  • http://www.justice.gov/usao/flm/press/2011/dec/20111207_Rischer.html
  • http://www.sec.gov/news/press/2011/2011-171.htm
  • http://www.fbi.gov/tampa/press-releases/2011/convicted-felon-sentenced-for-his-role-in-more-than-21-million-ponzi-scheme

3. Norman Adie

Ponzi Scheme Information

4. Allen and Wendell Jacobson

Ponzi Scheme Information

  • operate from a base in Fountain Green, Utah
  • offer investors the opportunity to invest in limited liability companies (LLCs) in order to share ownership of large apartment communities in eight states
  • SEC alleges that the Jacobsons represent that they buy apartment complexes with low occupancy rates at significantly discounted prices. They then renovate them and improve their management, and aim to resell them within five years
  • Investors are said to share in the profits derived from rental income at the apartment complexes as well as the eventual sales.
  • the Jacobsons raised more than $220 million from approximately 225 investors through a complex web of entities under the umbrella of Management Solutions, Inc.
  • http://www.sec.gov/news/press/2011/2011-266.htm
  • http://www.sec.gov/litigation/litreleases/2011/lr22195.htm

5. Dunya Predovan

Ponzi Scheme Information

6. Frederick Darren Berg

Ponzi Scheme Information

7. Mark Feathers

Ponzi Scheme Information

  • SEC alleges that more than 400 investors were attracted to the funds by promises that profits from mortgage investments would yield annual returns of 7.5 percent or more.
  • Small Business Capital Corp.
  • raised $42 million by selling securities issued by Investors Prime Fund LLC and SBC Portfolio Fund LLC – two mortgage investment funds they controlled.
  • http://www.sec.gov/news/press/2012/2012-125.htm

8. Scott Rothstein

Ponzi Scheme Information

9. (14 ) sales agents : Bryan Arias, Hugo A. Arias, Anthony C. Ciccone , Salvatore Ciccone, Jason A. Keryc, Michael D. Keryc, Martin C. Hartmann III , Laura Ann Tordy, Christopher E. Curran, Ryan K. Dunaske, Michael P. Dunne, Diane Kaylor, Anthony Massaro, Ronald R. Roaldsen Jr.

Ponzi Scheme Information

10. Stanley Shew-A-Tjon

Ponzi Scheme Information

11. George Levin/Frank Preve

12. R. Allen Stanford

13. Brian Ray Dinning

14. Martin B. Feibish

15. George Elia

16. Ray Bitar

17. Keith Franklin Simmons

18. Alan G. Flesher, Nancy Carol Khalial

19. Thomas E. Kelly

20. Wayne L. Palmer and his firm, National Note of Utah, LC

21. Samantha Delay-Wilson

22. Anthony John Johnson

23. Jason Bo-Alan Beckman, Gerald Joseph Durand, Patrick Kiley

24. Richard H. Nickles

25. Andrew S. Mackey, Inger L. Jensen

26. Joseph Blimline

27. Anthony C. Morris

28. Robert G. Tunnell, Jr.

29. Daniel Wise

30. Steven Bartko

31. Shervin Neman

32. Ephren W. Taylor II

33. Timothy Melvin Murphy

34. Brett A. Amendola

35. C. Tate George

36. Kenneth Alfred Scudder

37. Lauren Baumann

38. William Wise, Jacquline Hoegel

39. John Terzakis

40. Jonathan D. Davey, Chad A. Sloat, Michael J. Murphy, Jeffrey M. Toft

41. Ira J. Pressman

42. Joseph Mazella

43. Richard Pettibone

44. CHARLES MICHAEL VAUGHN

45. Laurie Schneider

46. Gregory Viola

47. Ronald W. Shepard

48. ALGIRD M. NORKUS

49. Jenifer Devine

50. Douglas F. Vaughan

51. Johnny “Mickey” Brown

52. GEOFFREY A. GISH, MYRA J. ETTENBOROUGH

53. Richard Elkinson

54. Louis J. Borstelmann

55. David Lincoln Johnson

  • http://www.justice.gov/usao/cac/Pressroom/2012/088.html

56. Celia Gallardo

57. Miko Dion Wady

58. Edward P. May

59. Daren Palmer

60. Kurt Branham Barton

61. Dante DeMiro

62. Wifredo A. Ferrer

63. Martin T. Sigillito, James Scott Brown, Derek J. Smith

64. Jeremiah C. Yancy

65. Timothy Durham

66. Francisco Illarramendi

67. Frederick H.K. Baker, Mark W. Akin

68. Paul Cirigliano

69. Anthony Eugene Linton

70. Richard Saunders

  • http://www.justice.gov/usao/moe/press_releases/archived_press_releases/2012_press_releases/march/saunders_richard.htm
  • http://www.kmov.com/news/local/Local-man-charged-for-operating-4-million-Ponzi-scheme-114820989.html

71. Lawrence Hamel

72. Christopher Jackson

73. Shaine Joseph Lavoie

74. Larry Benny Groover

75. Kent R.E. Whitney

76. Victoria Scardigno

  • http://articles.cnn.com/2011-02-16/travel/continental.employee.fraud_1_vouchers-airline-tickets-sales-agent?_s=PM:TRAVEL
  • http://www.justice.gov/usao/nys/pressreleases/July11/scardignovictoriasentencingpr.pdf

77. Brian Kim

78. Michael Hudspeth , Timothy Bailey

79. Monroe L. Beachy

80. Peter Sbaraglia

81. Josh Gould

82. Jeanette and Elliott Berney

83. Larry Michael Parrish

84. Dale Edward Lowell

  • http://www.bonnercountydailybee.com/news/local/article_9f759d34-715c-11e0-bf59-001cc4c002e0.html
  • http://www.cdapress.com/news/local_news/article_069fc4b4-372b-11e1-b6c8-001871e3ce6c.html

85. Ibis Febles, Giancarlo Giuseppe

86. Michael Crook, Roderick Rieman

  • http://www.justice.gov/usao/iln/pr/chicago/2011/pr0408_01.pdf

87. Garry Bradford

  • http://www.justice.gov/usao/cae/news/docs/2011/08-12-11BradfordGuiltyPlea.html

88. Royce Newcomb

  • http://www.news10.net/news/article/134775/2/Granite-Bay-man-charged-with-Ponzi-scheme
  • http://www.dailyrepublic.com/real-estate/roseville-man-gets-3-years-for-ponzi-scheme/

89. Steven Bingaman

90. Michael Morawski and Frank Constant

91. Nicholas Cox

92. John S. Dudley

93. Michael Kratville, Jonathan W. Arrington, Michael J. Welke

94. Steven White, Martin Kinsey

  • http://www.ifaonline.co.uk/ifaonline/news/2076425/british-advisers-named-gbp10m-ponzi-scheme-trial

95. Spero X. Vourliotis, Carey Michael Billingley

96. Anthony Cutaia

  • http://www.palmbeachpost.com/news/news/crime-law/well-known-radio-host-charged-with-running-ponzi-1/nLs65/

97. Victor E. Cilli

98. Juneval Eduardo Machado

99. Christopher Blackwell

  • http://www.courthousenews.com/2011/06/24/37662.htm

100. Fidel Bermudez

  • http://www.vcstar.com/news/2011/jun/27/miami-man-charged-with-ponzi-scheme-targeting/

101. Jamie Campany

102. Wayne Ogden

103. Shawon McClung

104. Edward Allen, David Olson

105. Robbie Dale Walker

  • http://www.kxan.com/dpp/news/crime/man-arrested-for-alleged-ponzi-scheme

106. Richard Dalton


ponzi scheme tax loss

If you are involved in a Ponzi Scheme that is not listed on this page – contact Richard S. Lehman, Esq.

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