August 03, 2018
The receiver overseeing a company accused of operating a $123 million Ponzi scheme involving fraudulent ATM sales has urged a California federal court to approve a $33 million settlement resolving claims against the company's bank, City National Bank.
August 24, 2015
The U.S. Securities and Exchange Commission is asking a California federal judge for partial summary judgment against two people convicted of operating a "large, ongoing" Ponzi scheme involving phantom ATM sales that allegedly raked in $123 million in the past two years.
October 08, 2014
A California federal judge unsealed an order Tuesday freezing the assets of a company the U.S. Securities and Exchange Commission accused of operating a "large, ongoing" Ponzi scheme involving phantom ATM sales that allegedly raked in $123 million in the past year alone and has been operating since 1999.