Blog
Madoff’s Questionable Compliance
Come to find out, Bernard Madoff’s brother functioned as the Ponzi afficianado’s compliance officer at his investment company. Um, yeah. Isn’t that some sort of oxymoron? That’s what court-appointed trustee Irving Picard is asking. He’s suing Madoff’s brother, two...
Beware Ponzis at Every Turn
Seems as though Ponzi artists would slow down operations in this post-Madoff era. But as USA Today explains, the shifty crooks and their schemes continue to flourish. Read this article and head this advice: be wary....
Fraud Stranger than Fiction
One of Fleecing Central's most notorious, Marc Dreier is currently serving a 20-year prison sentence for stealing $380 million from hedge funds. Despite his less-than-prestigious new address, Vanity Fair revisits the former hot shot ligigator's fall from...
Broker Perks at Clients’ Expense
Isn’t it customary for the broker to pick up the tab? In this case, the broker supposedly left his mortgage payment and travel expenses to his clients – to the tune of $350,000. Shane Selewach of Massachusetts claims he’s not guilty, merely having invested the funds...
Bank Fraud of Grand Proportions
Fudging the books costs former Le-Nature CEO. Not only is Gregory Podlucky indicted and losing his job, he has also been forced to hand over millions of dollars worth of jewelry, $7 million in bank accounts, and a model train set worth $1 million. Apparently Mr....
Three Strikes and…
The CFP Board had a lengthy docket of cases to review at a recent meeting. Three advisors were stripped of advisor licenses and CFP designations for a host of offenses. Additional advisors were penalized with suspensions. Their offenses ranged from ethical...
Telecom Charade Bilks Elderly
A Detroit broker managed to defraud hundreds of elderly clients of $74 million in exchange for investments in imaginary telecommunications contracts. To make matters worse, Frank Bluestein’s sham contributed to a far larger Ponzi scheme managed by the notorious Edward...
Scoundrel Targets Little Old Lady
This Tar Heel should be tarred and feathered. Charles Mark Hall is accused of embezzling nearly $170,000 from a 90-year-old client he conned into signing surrender forms. Then he made away with the funds, easy as taking candy from a baby. There are plenty of other...