Ponzi scheme

FILE - In this Oct. 8, 2013 file photo, JoAnn Crupi arrives to federal court in New York, Tuesday. The longtime secretary of imprisoned financier Bernard Madoff is one of five former employees of the imprisoned financier convicted Monday, March 24, 2014 in New York, at the end of a six-month trial that portrayed them as telling an elaborate web of lies to hide a fraud that enriched them and cheated investors out of billions of dollars. . (AP Photo/Seth Wenig, File)

5 Madoff ex-workers convicted in case’s 1st trial

NEW YORK (AP) — Five former employees of imprisoned financier Bernard Madoff were convicted Monday at the end of a six-month trial that cast them as the long arms of their boss, telling an elaborate […]

03/24/2014

CEO of OC firm sentenced in Ponzi scheme

SANTA ANA, Calif. (AP) – The CEO of an Orange County-based mortgage services firm has been sentenced to over three years in prison for running a Ponzi scheme that bilked more than $6.7 million from […]

07/02/2013

James M. Davis

Ex-Stanford executive gets 5 years in $7B swindle

HOUSTON (AP) — The star prosecution witness in the trial of convicted Texas financier R. Allen Stanford was sentenced Tuesday to five years in prison for helping to bilk investors out of more than $7 billion in one of the biggest Ponzi schemes in U.S. history.

01/22/2013

Poker company founder freed on bail

(AP) – An Internet poker company founder has been released on bail after he surrendered last week to face charges he operated his business like a Ponzi scheme. Raymond Bitar was freed on $2.5 million […]

07/09/2012

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