Tag Archives: Ponzi Scheme

California agent fesses up to $9M Ponzi scheme

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Since 2018, Matthew Campbell used at least $2.29 million in newly acquired investor funds to pay previous investors and keep up his scheme. Continue reading →

CEO pleads guilty to $380M real estate Ponzi scheme

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Todd Burkhalter executed one of the largest Ponzi schemes in Georgia history while acquiring a yacht, a luxury condo in Mexico, luxury vehicles, and jewelry via fraudulent real estate investments. Continue reading →

Investor who worked with Fox & Friends host sentenced for fraud

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Bert Whalen was ordered to serve over 3 years in prison for his role in a scheme to sell hundreds of dilapidated homes to rookie investors, working at times with a former host of Fox & Friends. Continue reading →

Real estate investors ran $230M Ponzi ploy to recoup shareholders

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Executives of investment firm iCap ran the scheme from 2013 to 2022, a federal bankruptcy judge ruled this week. They turned to the scheme when their real estate portfolio failed to yield results. Continue reading →

DJ Envy partner charged in alleged real estate Ponzi scheme

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Federal prosecutors announced Wednesday that Cesar Pina had been charged with one count of wire fraud for running a pyramid scheme targeting real estate investors. Continue reading →

‘Cash Flow King’ took millions in Ponzi scheme, according to SEC

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“Nearly everything about his scheme was a lie,’” the SEC says in new charges against the investor, who raised money to buy homes in northern Ohio. Continue reading →

Developer gets 25 years for ponzi scheme that preyed on elderly

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Robert Shapiro’s Woodbridge Group reportedly promised low-risk investments with high-risk returns, but instead, the money was shuffled into shell companies. Continue reading →

SEC charges real estate developer with fraud in Ponzi-scheme

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The U.S. Securities and Exchange Commission filed an emergency action Thursday against New York State real estate developer Robert Morgan. Continue reading →

NY developer sentenced to 6 years in prison for fraud

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A New York-based real estate developer was sentenced to six years in prison on Thursday for running a years-long scheme to defraud investors of $58 million, the U.S. Attorney’s Office for the Southern District of New York announced.  Continue reading →