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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.
Taxes Paid on Earnings from Ponzi Scheme
This NPR story discusses the interesting issue of what to do with money paid for taxes on earnings that didn't actually exist. "The IRS has been the biggest beneficiary of Madoff's fraud." It'll be interesting to see if anything comes back from...
Where did Madoff’s funds go?
One problem that is yet to be solved in this case is restitution to those investors who lost a lot. In reality there are people who made a lot of money with Madoff, taking out more money than they put in. Should they have to payback those funds? "What if they...
Marvin R. Cooper
Marvin R. Cooper allegedly targeted members of the deaf community in a Ponzi scheme that raised $4.4M dollars. The SEC said that Cooper's company, Billions Coupons, held seminars at Community Centers where deaf people were targeted. The SEC claims that Cooper took...
Joseph Nacchio
The ex-CEO of Qwest Communications International Inc., Joseph Nacchio was fired from his post after the discovery of $2.5B in improperly booked revenue. After his court of appeals hearing, Nacchio's 19 counts of insider trading were confirmed. This means that he...
Paul Greenwood and Stephen Walsh
Greenwood and Walsh are charged with conspiracy, securities fraud and wire fraud in an estimated $553M fraud. The misappropriated funds were used to fund a lavish lifestyle, raising show horses and collecting rare items. Between January 1995 and September 2008 the...