Blog
The High Life Has a Downside
Advisor Sean Healy is sorely disappointed to learn that the Ponzi party is over. According to the SEC, Healy used approximately $20 million he acquired through a Ponzi scheme to satisfy every whim. A fancy home in Florida, a vast collection of luxury automobilies,...
Former ING Rep Gets Pumped Up
Pennsylvania advisor Frank Peperno took money from his securities business, put it in a business bank account, and used some of it to purchase a gym. Frank, FYI the Feds consider this money laundering. You can’t chalk this up to good physical fitness. See the...
Stanford Pointing Fingers From Behind Bars
In an effort to offload some blame for his notorious $7 billion financial scandal, R. Allen Stanford fingered two former advisors who served at his firm. The two men are being sued for more than $11 million that must be returned to clients. Perhaps the lawsuits...
Fedorov Gets Checked in Scam
A pro on the ice got frozen out of $60 million in this scam. Former Detroit Red Wings hockey player Sergei Fedorov is suing to recover his millions lost in apparent penalty-laden investment mismanagement. See the Investment News story here....
You’ve Been Friended… and Busted
Here’s tip number one when you’re on the run from the U.S. Justice Department: Refrain from updating your Facebook page with your whereabouts and hijinx. Tip number two: Don’t friend Justice Department officials. Fraud guru Maxi Sopo hadn’t brushed up on these rules...
From Prison to Barnes & Noble
The same investment guy who is charged with scamming clients out of $1.5 million and then purposely crashed his own plane is now writing a book about how his bipolar disorder contributed to his downfall… How precious is this? Wonder how his mental health would be...
This Crook Just Keeps on Tickin’
Out of federal prison for mail fraud, Nicholas Cosmo allegedly proceeded to bilk $400 million in a Ponzi scam. While on house arrest, he then broke the terms of release in a variety of ways. This guy couldn’t abide by an order if his life depended on it… well,...
Miami Vices
Miami insurance agent Jose Peris pleaded not guilty to stealing about $14 million. His alleged vices include submitting insurance contracts with fake policyholders. Stay tuned to see if this guy gets out of jail. Read the full Investment News story....