Blog
Donald Anthony Walker Young
An investment adviser from the Philadelphia area is accused of misappropriating more than $23M of client funds. The proceeds were allegedly used to pay personal expenses related to horse ownership and racing, construction, boats, limousines, chartered aircraft and...
Stanford Requests $10M to be Unfrozen to pay Lawyers
The request for $10M in funds to pay his defense team as he defends himself against allegations of a potentially massive fraud. The full NYtims.com article can be read here.
Jadis Capital Inc.
Seven members of a Queens, NY church defrauded more than $12M from elderly parishioners. The SEC says that returns up to 75% were promised and the money was used to by luxury cars, jewelry, and for traveling. More can be read at crainsnewyork.com.
The biggest tax cheats: Rich folks
The Forbes.com article writes about a study that shows that the wealthy are most likely to cheat on their taxes. Of those who make between $500K and $1M, incomes are understated by a net of 21%. The article has a link to a list of some of the biggest tax cheats of all...
FBI swamped by financial fraud cases
Discussion of future and current financial fraud as the Obama stimulus package gets into the hands of fleecers. A transcript of the audio can be found at abc.net.
Allen Stanford
Stanford is denying any crime or Ponzi scheme as alleged by the SEC. “The SEC has cremated the Stanford companies and Stanford, partly to get over the embarrassment at their lack of oversight in the Madoff case,’’ DeGuerin [Stanford's Lawyer] said. “But this isn’t...
Subprime Swindlers Reconnect to Homeowners in Foreclosure Scams
Subprime Swindlers Reconnect to Homeowners in Foreclosure Scams By Edward Robinson
Allen Stanford
The IRS is trying to get back $226.6M in unpaid taxes (1999-2003) as well as penalties and interest from Allen Stanford. This comes after the SEC alleged that he participated in an $8B fraud. More can be read about Mr. Stanford at BBC.co.uk.