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