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.
December 29, 2003 |
More than 5,200 clients across the country trusted James Paul Lewis Jr. with their life savings, pouring hundreds of millions of dollars into his Orange County investment funds on the word of a few friends. Many heard about Financial Advisory Consultants through fellow churchgoers. Lewis told clients that investors included professional athletes and at least one movie actor. They marveled at Lewis' consistent reports, over two decades, of annual returns nearing 40% from one fund and 20% from another.
May 21, 1993 |
A Redondo Beach man was indicted and arrested Thursday for allegedly bilking more than 1,500 Southern California investors out of more than $30 million in what prosecutors said is one of the largest real estate scams in California history. In a 50-count indictment, the U.S. attorney's office charged Morris D. English Jr.
November 5, 2004 |
A federal judge in San Diego froze $500 million in bank and investment accounts managed by Xelan Inc., which is accused of perpetrating a massive tax fraud and Ponzi scheme, authorities said Thursday. In a civil complaint filed Tuesday but unsealed Thursday, law enforcement officials claimed that the San Diego company lured doctors into a fraudulent tax scheme, which allowed them to write off millions of dollars in bogus deductions for supposed benefit plans and charitable contributions.
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.