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6 Oct 2009 No Comments

New York State of Money

New York politician Raymond Harding pleaded guilty to accepting $800,000 from investment companies involved with his organization’s pension fund. The money was in return for political favors. Mr. Harding could […]

6 Oct 2009 No Comments

It All Started with Mortgages

Montana businessmen Keith Kovick and Robert Congdon once had a successful (and legitimate) mortgage brokerage operation. But when they ventured into the investment arena without being registered to sell securities […]

6 Oct 2009 No Comments

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 […]

2 Oct 2009 No Comments

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 […]

2 Oct 2009 No Comments

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 […]

29 Sep 2009 No Comments

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 […]

29 Sep 2009 No Comments

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 […]

29 Sep 2009 No Comments

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. […]

28 Sep 2009 No Comments

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 […]

28 Sep 2009 No Comments

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 […]