Blog
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...
Concerned about retirement funds? Here’s a hot tip: Get a Plan!
After decades of experience in financial planning, the folks at Fleecing Central shouldn’t be surprised that consumers are concerned about retirement planning. In fact, according to a recent CFP Board survey, 51% of respondents listed building a retirement fund was...
Noise and Over-Crowding Reveal Mortgage Scheme
A ring of mortgage crooks may have wanted to enact a strict noise policy for its many illegal boarders. But, most likely the 20 northern Virginia schemers were too busy creating a humongous mortgage fraud operation valued at about $100 million in properties. Check out...
The Secret of Success…
Is to avoid hiding millions of dollars from the Feds. U.S. tax authorities really frown on that. Case in point, UBS client Juergan Homann is in hot water over a $6.1 million account that he kept secret in a Swiss bank account. To make matters worse, he used to the...
Profits Evaporate in Foreign Currency Sham
More than 20 investors expecting profits from foreign currency trading have been taken for a ride by Ponzi artist Yongsu Meade of Oregon. Ms. Meade took in approximately $2 million in the sham. She did actually invest some of the funds in foreign currency, only to...
So Much for Mother-Daughter Tea Parties
Fleecing Central admires mother-daughter bonding, but these California ladies should really consider a more respectable pastime. The FBI agrees. Helen and Irene Sotiriadis are currently in FBI custody following claims that they bilked lenders of $5 million in home...