August 06, 2021
A Colorado man must serve 18 years in prison for his role in a $54 million "green energy" Ponzi scheme and must pay $37 million in restitution to investors, a Pennsylvania federal court ordered Friday.
July 17, 2020
A Pennsylvania federal judge on Thursday denied a Ponzi schemer's request to leave prison during the COVID-19 pandemic for fear of catching the virus, saying his epilepsy has been exaggerated or even fabricated, he has served less than two years of a 22-year sentence and he may still be a danger to the community.
May 15, 2020
The mastermind behind a $54 million Ponzi scheme is urging a Pennsylvania federal judge to free him from his 22-year prison sentence due to the heightened risk he faces from a potential COVID-19 infection as a result of his weight and an underlying seizure disorder.
August 20, 2019
The mastermind behind a $54 million Ponzi scheme was handed a 22-year prison sentence Tuesday as a judge questioned whether the admitted fraudster could ever be trusted to respect the law after cooking up a second plan to pilfer investors while on bail for the original crime.
October 12, 2018
A Pennsylvania federal jury on Friday convicted a former insurance salesman for his role as the deal-closer in a $54 million Ponzi scheme that had naive investors pouring cash into bogus land and green energy investments.
September 25, 2018
The man known as the deal-closer in a $54 million Ponzi scheme rooted in bogus investments involving land and green energy preyed upon unsophisticated investors, such as widows and retirees, and squandered their money on a lavish lifestyle, a federal prosecutor told a Pennsylvania federal jury on Tuesday.
November 20, 2017
A Pennsylvania judge on Friday ruled that a man accused of helping run a $54 million Ponzi scheme must face charges of wire fraud and conspiracy to commit wire fraud, finding that a longer statute of limitations applies to the charges because the government sufficiently alleged his conduct affected a financial institution.
August 01, 2017
Prosecutors told a Pennsylvania federal court Tuesday that a man charged for his role in running an alleged $54.5 million Ponzi scheme is trying to "twist and contort" the facts by arguing much of the indictment lies outside the statute of limitations on wire fraud.
May 26, 2016
One of the founders of a failed Pennsylvania green energy company accused of running a $54.5 million Ponzi scheme and selling bogus securities pled guilty in Pennsylvania federal court Tuesday to conspiracy and fraud charges, according to court documents.