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Ponzi Scheme

(credit: CBS)

Calif. Men Arrested In Alleged $110M Finance Fraud

A U.S. attorney’s statement says that 66-year-old Michael Stewart of Phoenix and 63-year-old John Packard of Long Beach were arrested Wednesday.

02/05/2014

(credit: CBS)

Riverside Man Sentenced For Real Estate Ponzi Scheme

A Riverside man has been sentenced to 26 years in prison for bilking victims across three states of millions in a real estate Ponzi scheme.

11/15/2013

(credit: CBS)

Man Accused Of Milking $17M From Investors In OC’s Largest-Ever Ponzi Scheme Surrenders

Adam Boskovich, of Laguna Niguel, has surrendered on a warrant to face charges of cheating 80 Orange County investors out of millions of dollars.

KNX 1070 NEWSRADIO–10/24/2013

(credit: CBS)

Insurance Agents Accused Of $1.3M Ponzi Scheme Targeting Senior Latino Investors

Two licensed insurance agents will appear in court Friday on charges they ran a $1.3 million Ponzi scheme targeting Latino investors, many of them senior citizens.

06/08/2012

(credit: CBS)

Christian Concert Promoter Sentenced For $1M Ponzi Scheme

The concert promoter of events featuring Christian rock bands was sentenced to 57 months in federal prison for a wire fraud scheme that bilked nearly $1 million from investors.

03/06/2012

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Fugitive Suspected In Large-Scale Ponzi Scheme Due In Court

A man who had been a fugitive for more than five years after being indicted for allegedly running a “large-scale Ponzi scheme” is scheduled to be arraigned Tuesday morning.

CBS2 / KCAL9–10/18/2011

OC Man Convicted Of Scamming Dozens Out Of $2.8M

An Orange County man has been convicted of scamming dozens of elderly people out of about $2.8 million dollars.

09/30/2011

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Chatsworth Man Pleads Guilty In Ponzi Case

A Chatsworth man pleaded guilty Tuesday to scamming nearly $13.5 million from his friends and family members who thought they were financing a wholesale business that distributed NASCAR merchandise.

CBS2 / KCAL9–09/06/2011

(credit: Los Angeles Sheriff's Department)

LA Sheriff: PTA Moms Cheated Investors Out Of $14M

Three former elementary school PTA members have been arrested and charged with running an alleged Ponzi scheme in Southern California that defrauded more than 40 people out of millions.

07/05/2011

(credit: AP)

Tobey Maguire: No Wrongdoing In Hollywood Poker Matches

Tobey Maguire didn’t just win $300,000 from a man convicted of running a Ponzi scheme — the actor’s attorney notes he also lost $168,500 to the convicted con man.

06/30/2011

Irvine Man Confesses To Cheating 34 People Out Of More Than $4M

A veteran real estate broker and former Irvine planning commissioner has agreed to plead guilty to interstate wire fraud in federal court, admitting he cheated 34 people out of more than $4 million.

06/09/2011

National Lampoon CEO Arrested For Alleged Ponzi Scheme

The head of National Lampoon Inc. was arrested Wednesday in West Hollywood in an alleged Ponzi scheme involving about $200 million.

CBS2 / KCAL9–03/16/2011

Santa Barbara Man Admits To $12M Investment Scam

Prosecutors say Peter Frommer entered pleas in federal court Tuesday to wire fraud, money laundering and failing to file taxes. He faces up to 33 years in prison.

11/23/2010

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