October 14, 2020
A Maryland federal judge on Wednesday rejected a court-appointed receiver's bid demanding that two men hand over $150,000 they had promised to repay the head of a $396 million Ponzi scheme if they failed to deliver a new 2018 customized Porsche under a purchase agreement.
August 24, 2020
The U.S. Securities and Exchange Commission on Friday slammed an effort by a woman in Maryland federal court to receive the sale proceeds of vacation homes purchased with money gained through her husband's $396 million Ponzi scheme.
October 30, 2019
A Texas certified public accountant will serve 14 years in federal prison for his supporting role in a Ponzi scheme that netted $396 million and, with his co-conspirator, will pay at least $190 million in restitution to his victims, prosecutors announced Tuesday.
October 10, 2019
A Maryland man who pled guilty to scamming investors including lawyers, bankers, investment advisers and professional athletes in a $396 million scheme offering high returns on consumer debt was sentenced Thursday to 22 years in federal prison and to pay at least $190 million in restitution.
May 16, 2019
A Maryland man accused of scamming investors including lawyers, bankers, investment advisers and professional athletes in a $550 million scheme offering high returns on consumer debt pleaded guilty to wire fraud and conspiracy in federal court, prosecutors announced Thursday.
February 04, 2019
Citing conflict of interest concerns, a Maryland federal judge has disqualified an attorney for a man who was arrested and accused by the U.S. Securities and Exchange Commission of scamming lawyers, bankers, professional athletes and other investors in a $364 million scheme promising high returns on consumer debt.
September 19, 2018
Three men have been arrested for allegedly scamming investors including lawyers, bankers, investment advisers and professional athletes in a $364 million scheme offering high returns on consumer debt, federal prosecutors and securities regulators announced in Maryland on Wednesday.