(Bloomberg) — Poland’s central bank bought foreign currency to weaken the zloty for the first time since 1998 and said it may do so again, putting investors on notice it will seek to prevent exchange rate gains harming economic growth.The zloty dropped as much as 1.2 percent against the euro, the largest decline in two months, and traded 0.8 percent lower at 4:39 p.m.
Posts Tagged ‘50 Million’
Poland Buys Euros to Weaken Zloty, 1st Time in Decade
April 10th, 2010 
Before You Invest 
Posted in Finance Fraud 
Tags: 50 Million, Asset Managers, Bre Bank, Clear Signal, Deputy Finance Minister, Deputy Governor, Dominik, E Mail, Emerging Market Bonds, First Three Months, Foreign Currency, Kozinski, Money Manager, Paul Mcnamara, Pko Bank Polski, Radziwill, Recession, S Central, Warsaw, Witold 
Comments OffSEC halts alleged Ponzi scheme in Detroit
July 31st, 2009 Before You Invest The Securities and Exchange Commission (SEC) has went to halt a Ponzi scheme that is allegedly being conducted by two firms in Detroit.It has obtained a court order against Michigan residents John Bravata and Richard Trabulsy after they were accused of misusing investors’ money.The pair obtained over $50 million from more than 440 investors who believed they were buying into a real estate fund that offered annual returns of up to 12 per cent.But, at least half the money was used to make payments to early investors, with a proportion of it being spent on personal items, the SEC states.”Investors thought they were investing in a safe and profitable real estate investment fund,” Merri Jo Gillette, director of the SEC’s office in Chicago, stated.
Posted in Finance Fraud, Fraud, Ponzi Scheme Tags: 50 Million, Bravata, Gillette, Investing, Investors, Michigan Residents, Money, Ponzi Scheme, Proportion, Real Estate Fund, Real Estate Investment, Real Estate Investment Fund, Sec States, Securities And Exchange, Securities And Exchange Commission No Comments »SEC Halts $50 Million Ponzi Scheme
July 29th, 2009 Before You Invest The U.S. Securities and Exchange Commission said it halted a $50 million Ponzi scheme near Detroit that raised money for a real-estate investment fund and targeted the elderly. A federal judge in Michigan agreed to freeze assets after the SEC sued John Bravata, 41, and Richard Trabulsy, 26, claiming they lured more than 400 investors by promising 8 percent to 12 percent annual returns, the agency said today in a statement.
Posted in Finance Fraud Tags: 1 Million, 50 Million, Assets, Bravata, Exotic Vacations, Federal Judge, Ferrari, Gambling Debts, Gillette, Jewelry, Luxury Homes, Maserati, Merri, Mortgage, Prospective Investors, Real Estate Investment, Real Estate Investment Fund, Regional Office, Securities And Exchange, Securities And Exchange Commission No Comments »Free Capitalist host charged with $100m Ponzi scheme
June 2nd, 2009 Before You Invest A Utah businessman and host of the Free Capitalist radio show has been indicted by a federal grand jury over allegedly running a $100 million Ponzi scheme. Claud Koerber, also known as Rick Koerber, faces charges of mail fraud, wire fraud and tax evasion. He is alleged to have obtained the money through loans for Founders Capital, a subsidiary of his Provo-based real estate firm FranklinSquires. According to the indictment, over $50 million was used to pay earlier investors to give the “fake impression” that his businesses were profitable and their investments were secure, the Star-Tribune reports. Mr Koerber is also accused of using investors’ cash to fund personal interests, including investing $850,000 in restaurants, $1 million in luxury automobiles and $5 million in filmmaking.On his official site, Mr Koerber describes himself as a “capitalist, Mormon [and] dad”. He started the daily Free Capitalist talk radio show in 2005.
Posted in Finance Fraud Tags: 100 Million, 5 Million, 50 Million, Businessman, Claud, False Impression, Federal Grand Jury, Filmmaking, Founders, Indictment, Luxury Automobiles, Mail Fraud, Mormon, Personal Interests, Ponzi Scheme, Rick Koerber, Star Tribune, Talk Radio Show, Tax Evasion, Wire Fraud No Comments »
