December 21, 2001 |
Investors who profited from Reed Slatkin's alleged Ponzi scheme will be asked--and if necessary sued--to pay back millions of dollars they received in bogus gains, a U.S. Bankruptcy Court trustee said Thursday. Trustee R. Todd Neilson said he is reviewing a list of 75 people who allegedly reaped $151 million in profits from their investment with Slatkin to determine who will receive a letter demanding they return the money. Those who do not comply could face lawsuits, Neilson said.
March 29, 1996 |
California Atty. Gen. Dan Lungren on Thursday alleged that a Costa Mesa-based company that bills itself as a fund-raising vehicle for nonprofit organizations instead is operating a Ponzi scheme that is placing millions of dollars in consumer funds at risk. Lungren's lawsuit, filed Thursday in Superior Court in Los Angeles against United Grocer's Clearinghouse, seeks more than $2 million in restitution for customers and distributors and an additional $2 million in fines.
January 12, 1993 |
Tipped off by disgruntled investors and suspicious company officials, authorities on Monday seized records and computer equipment at a Tustin investment management firm suspected of bilking customers out of about $24 million. Armed with a federal search warrant, about a dozen FBI agents spent the day at the Tustin office of B.H. Rothchild & Gray, carting away about 100 boxes of records and computer equipment that might hold clues.
November 5, 2004 |
Before hearing the sales pitch, the 500 potential investors invited to the Ritz-Carlton Hotel in Marina del Rey last month feasted on lobster and prime rib and enjoyed drinks from an open bar. They had been told that sports greats Mike Tyson and Earvin "Magic" Johnson would be attending the free dinner and presentation. Tyson was indeed there, a glass of Courvoisier in hand, federal authorities said Thursday, as an investment advisor they described as a scam artist gave his pitch. Christiano K.
May 12, 2001 |
Federal regulators pounced on EarthLink co-founder Reed E. Slatkin on Friday, raiding his offices and persuading a federal judge to freeze his bank and brokerage accounts to prevent Slatkin from hiding investors' money or destroying documents. The actions turn what had been a civil matter--with investors accusing Slatkin of running a 16-year Ponzi scheme--into a criminal investigation. Moreover, documents filed Friday revealed several Hollywood names on Slatkin's list of investors. At 8 a.m.
September 6, 1995 |
Two former salesmen for convicted swindler Steven D. Wymer's municipal investment operation were sued by securities regulators Tuesday over their role in allegedly helping Wymer's Newport Beach companies bilk $105 million from cities from Orange County to Iowa. Former marketing director James A. Pearce, 49, of Newport Beach, and salesman Steen Ronlov, 50, of Northglenn, Colo., outside Denver, were accused of receiving a total of nearly $2.3 million in ill-gotten gains.
CALIFORNIA | LOCAL
August 21, 2002 |
A Los Angeles businessman has agreed to plead guilty to defrauding more than 200 friends, relatives and associates through a $21-million Ponzi scheme, federal prosecutors said Tuesday. Gary A. Eisenberg, 64, who operated Advance Finance Inc. and Advance Finance Holding Inc. in Beverly Hills, was charged with four counts of securities and mail fraud.
September 21, 2007 |
The U.S. attorney here on Thursday charged enigmatic Democratic fundraiser Norman Hsu with masterminding a massive Ponzi scheme that defrauded investors from New York to California out of more than $60 million, while pressing many to make campaign contributions to Sen. Hillary Rodham Clinton and other politicians. The case, which came together with surprising speed, includes Hsu's confession to the FBI that his investment deals were "phony," officials said in unsealing the charges.
January 11, 2002 |
Some early speculators in an Orange County teenager's $1-million Internet sports-betting scheme may have to cough up their gains, legal experts say. That's partly because some of Cole A. Bartiromo's "investors" openly acknowledge that they figured the 17-year-old's plan was illegal, but hoped to reap a bonanza before the scam collapsed.
CALIFORNIA | LOCAL
April 17, 1998 |
Stanley Glickman, a principal in one of the San Fernando Valley's biggest real estate Ponzi schemes, has pleaded guilty to 17 felony counts in a case involving more than $1.2 million in losses to investors, the district attorney's office said Thursday. Glickman and his father-in-law, Elliot Fine, from 1970 to the early 1990s ran Property Mortgage Co. in Sherman Oaks.