October 9, 2009 |
The California attorney general's office sued a group of Los Angeles-area individuals and their operations, alleging they ran illegal schemes that siphoned more than $3 million from small San Diego County businesses. In three lawsuits filed Thursday, the state accused eight individuals and their companies of duping the businesses in separate scams by sending official-looking mail warning them of consequences if they failed to pay fees promptly. The fees sought ranged from $150 to $250, according to the suits.
September 29, 2009 |
In what federal prosecutors described as the longest sentence ever imposed for a financial crime in Southern California, a Riverside County man was sentenced today to 100 years in prison for operating a three-year Ponzi scheme that bilked investors of about $35 million. Richard Monroe Harkless, 65, who ran the scheme from 2000 to 2003 through a company he called MX Factors, was sentenced by U.S. District Judge Virginia A. Phillips in federal court in Riverside. In letters to the judge, victims of the massive scheme said they were forced to file for bankruptcy protection, put off medical operations or postpone retirement as a result of their losses.
September 9, 2009 |
A federal judge Tuesday sentenced Silicon Valley financier William "Boots" Del Biaggio III to more than eight years in prison for bilking investors and banks -- including one he helped launch -- out of millions of dollars in a desperate attempt to buy a pro hockey team. The disgraced scion of a prominent San Jose family is to report to prison in January, capping a long fall for a former high roller who counted hockey great Mario Lemieux as a golfing buddy and who jetted on private planes to Las Vegas, where he amassed a $4-million gambling debt.
July 2, 2009 |
The recession has killed jobs by the millions, but it's been a boon to one sector of the population: con artists. They've been offering consumers help in repairing bad credit, landing new jobs, starting lucrative work-at-home businesses and obtaining government money to pay off bills. These scams -- which are surging along with the jobless rate -- are touted on websites and infomercials, and have bilked consumers out of hundreds of millions of dollars, said David C.
May 16, 2009 |
Beverly Hills hedge fund manager Bradley L. Ruderman surrendered to FBI agents Friday after being criminally charged in federal court in Los Angeles with bilking investors out of about $44 million in a wire fraud scheme. Ruderman's surrender came two weeks after a federal judge shut down his hedge funds, Ruderman Capital Partners and Ruderman Capital Partners A, in response to a civil suit filed by the Securities and Exchange Commission.
April 29, 2009 |
Orange County money manager Danny Pang, accused this week of defrauding investors out of hundreds of millions of dollars, was arrested Tuesday by FBI agents on suspicion of evading currency reporting laws. According to an affidavit, the FBI focused on a series of check-cashing transactions at the East West Bank branch in El Monte. Pang's aim was to convert cash to gold bullion, which he tucked away in a safe concealed in a bedroom closet, the affidavit said.
March 3, 2009 |
A contractor who pleaded guilty to bilking the Pentagon out of more than $20 million during a nine-year fraudulent billing scheme was sentenced Monday to six years in prison and ordered to repay $15.5 million. Charlene Corley, 48, was sentenced by U.S. District Judge Margaret B. Seymour in Columbia, S.C. Corley also was ordered to serve three years of court-supervised release.
February 18, 2009 |
Was it the real estate downturn, or were people misled into a risky investment scheme? That's the question at the center of a lawsuit filed Tuesday that accuses Orange County real estate lender Dan J. Harkey of bilking dozens of investors out of more than $15 million. In an added twist, the investors claim that their money helped fund the election of Harkey's wife, state Assemblywoman Diane L. Harkey (R-Dana Point).
February 10, 2009 |
An Irvine lawyer convicted last year of conspiracy and securities fraud in a scheme that bilked investors out of tens of millions of dollars pleaded not guilty Monday to new charges of credit card fraud and forgery. Jeanne M. Rowzee is accused of fraudulently applying for credit cards in her children's names and adding herself to the accounts as a second cardholder.
CALIFORNIA | LOCAL
January 31, 2009 |
Two hospital executives have been indicted for allegedly paying homeless people for unnecessary medical treatment as part of an ongoing investigation into a scheme to bilk government health programs out of millions of dollars. Robert Bourseau, 74, who was chairman of City of Angels Medical Center, was arrested at his Los Angeles home Friday by federal investigators. Dante Nicholson, the hospital's former senior vice president, is scheduled to appear before a federal judge next month.