Eight people have been charged in a real estate scheme that federal prosecutors say swindled investors out of more than $11.4 million between 2006 and 2008. Prosecutors allege the defendants solicited investors through their family run company in Sacramento, Heaven Investments. They promised to buy, renovate and resell single-family homes and use investors’ money to develop four pieces of property, pitching annual returns of 12 to 15 percent. The indictment says the company operated like a Ponzi scheme, using money from new investors to make interest payments to earlier ones.
Posts Tagged ‘Indictment’
8 Charged In California Real Estate Scheme
August 17th, 2010 
Before You Invest 
Posted in Finance Fraud 
Tags: California Real Estate, Federal Prosecutors, Heaven, Indictment, Interest Payments, Investments, Investors, Money, Ponzi Scheme, Real People, Single Family 
Comments OffAlleged global credit card fraud kingpin arrested in France – csmonitor.com – 11 Aug 2010
August 12th, 2010 Before You Invest French authorities have arrested a man alleged to be one of the most active international dealers in stolen credit card information, delivering a potentially significant blow to an innovative and thriving criminal network.Vladislav Anatolievich Horohorin, 27, of Russia, was arrested Saturday in Nice, France, while attempting to board a flight to Moscow.The French national police made the arrest based on pending charges against Mr.
Posted in Finance Fraud Tags: Assistant Director, Credit Card Fraud, Credit Card Information, Csmonitor, Extradition, Federal Grand Jury, Fraudulent Transactions, French Authorities, Global Credit Card, Indictment, Kingpin, Law Enf, Line Forums, Michael Merritt, National Police, Nice France, Online Forums, Secret Service Agents, Service Investigation, Target Comments Offeropostale Inc.’s former merchandising chief, Christopher Finazzo, was accused by federal prosecutors of conspiring to overcharge
June 16th, 2010 Before You Invest eropostale Inc.’s former merchandising chief, Christopher Finazzo, was accused by federal prosecutors of conspiring to overcharge the teen-clothing retailer on buys from a vendor and sharing in the proceeds.Finazzo, 54, acted with Douglas Dey, the owner of South Bay Apparel Inc., a company based in Calverton, New York, that sold clothing to Aeropostale, according to an indictment returned in Brooklyn, New York.
Posted in Finance Fraud Tags: Abercrombie Fitch, Abercrombie Fitch Co, Aeropostale, American Eagle Outfitters, American Eagle Outfitters Inc, Brooklyn New York, Calverton New York, Christopher Finazzo, Clothing Retailer, Consulting Company, Dey, Eropostale, Federal Prosecutors, Indictment, Mail, Money Laundering, Related Party Transactions, Shareholders, Teen Clothing, Wire Fraud Comments OffN.J. authorities indict 34 in Lucchese crime family bust from ‘Operation Heat’ | – NJ.com
May 17th, 2010 Before You Invest N.J. authorities indict 34 in Lucchese crime family bust from 'Operation Heat' | – NJ.com: “indictment charged 34 Lucchese members and associates with crimes included racketeering, weapons possession, tax evasion, bribery, money laundering and conspiracy.Scarfo, the son of a convicted mob boss, was previously sentenced to 33 months in prison in a federal gambling case.
Posted in Finance Fraud Tags: Authorities, Being A Leader, Bribery, Bust, Conspiracy, Crime Family, Crimes, Dinapoli, East Hanover, Faction, Indictment, Madonna, Mob Boss, Money Laundering, Perna, Possession, Racketeering, Scarsdale, Tax Evasion, Weapons Comments OffMadoff Aide Daniel Bonventre Is Indicted for Fraud
March 25th, 2010 Before You Invest (Bloomberg) — Bernard M. Madoff’s ex-operations chief, who was arrested last month, was indicted by a federal grand jury for helping his boss run a Ponzi scheme that bilked investors and illegally infused $750 million into parts of the business that Madoff insisted was legitimate.Daniel Bonventre, 63, is the sixth person charged in the largest-ever U.S.
Posted in Finance Fraud Tags: 5 Million, Accountant, Billions Of Dollars, Computer Operators, Cr, Federal Grand Jury, Fraud, George Perez, Indictment, Investment Securities, Lieutenant, New York Manhattan, O Hara, Operations Chief, Ponzi Scheme, Prosecutors, Queens New York, Regulators, Sixth Person, Southern District Of New York Comments OffEx-Goldman Programmer Aleynikov Pleads Not Guilty
February 18th, 2010 Before You Invest (Bloomberg) — Former Goldman Sachs Group Inc. computer programmer Sergey Aleynikov pleaded not guilty to federal charges that he stole trading software from the bank.Aleynikov, 40, entered his plea today before U.S. District Judge Denise L. Cote in New York. The judge set a trial date of Nov.
Posted in Finance Fraud Tags: Citadel Investment Group, Computer Programmer, Court Appearance, Deleting History, District Judge, Employment Assistant, Federal Charges, Goldman Sachs, Goldman Sachs Group, Goldman Sachs Group Inc, Group Llc, Indictment, Laptop Computer, Misha, Preet Bharara, Sachs Group Inc, Shroff, Storage Device, Trading Platform, Trading Software Comments OffSeven more indicted in Galleon case
January 23rd, 2010 Before You Invest Seven more people have been indicted in the Galleon Group insider trading ring court case.Previously only two people had been indicted – Danielle Chiesi and Galleon Group founder Raj Rajaratnam.Another seven people have already entered guilty pleas in regard to the case.Among those brought before a grand jury this week are Zvi Goffer, a former Galleon Group employee who went on to found trading firm Incremental Capital.Prosecutors have claimed that Mr Goffer played a leading role in the insider trading – he is alleged to have passed out prepaid phones to tippers to limit the chances of them getting caught.He was also nicknamed ‘Octopussy’ by investigators on the grounds of his reported ability at getting hold of insider information.Others charged in the latest indictment include Mr Goffer’s brother Emanuel, Incremental workers Michael Kimelman and David Plate and two lawyers, Jason Goldfarb and Arthur Cutillo.Last month, insiders told Bloomberg that Galleon Group is to shut down its operations in Singapore as the company is place through liquidation.
Posted in Finance Fraud Tags: Chiesi, Court Case, Emanuel, Galleon, Galleon Group, Goffer, Goldfarb, Grand Jury, Group Employee, Group Founder, Guilty Pleas, Indictment, Insider Information, Insider Trading, Insiders, Octopussy, Prepaid Phones, Prosecutors, Raj Rajaratnam, Zvi Comments OffLawyer Scott Rothstein Pleads Not Guilty To Ponzi Scheme Allegations
December 1st, 2009 Before You Invest A once high-flying attorney who courted politicians and celebrities was arrested Tuesday on federal racketeering and fraud charges alleging he operated a $1 billion investment scheme involving phony legal settlements.Lawyer Scott Rothstein was led into the Miami FBI office in handcuffs following his early morning arrest on five charges, including a violation of the Racketeer Influenced and Corrupt Organizations, or RICO law, often used against the Mafia and other criminal organizations.Rothstein was also charged with wire fraud, money laundering, and mail and wire fraud conspiracy. The combined maximum prison term for convictions on all counts is 100 years, according to court documents.A few hours after his arrest, Rothstein pleaded not guilty in federal court even though the information charging document — rather than an indictment — used by prosecutors typically means a defendant has agreed to eventually plead guilty.
Posted in Finance Fraud Tags: 100 Years, Court Documents, Criminal Organizations, Defendant, Fbi Office, Federal Racketeering, Fraud Charges, Handcuffs, Indictment, Investment Scheme, Legal Settlements, Mafia, Mail, Maximum Prison, Money Laundering, Prison Term, Prosecutors, Racketeer Influenced And Corrupt Organizations, Rico Law, Wire Fraud No Comments »Radisson Hotels: Data breach affected ‘limited’ number of sites, guests – computerworld.com – 19 Aug 09
August 22nd, 2009 Before You Invest Radisson Hotels revealed Wednesday that a “limited” number of guests may have had their credit or debit card data stolen, due to a breach of the computer systems at some of the chain’s hotels.The illegal access was learned this past spring. The company says the breaches took place between November 2008 and May 2009 at some hotels in the United States and Canada.
Posted in Finance Fraud Tags: Additional Security Measures, Card Issuers, Card Numbers, Card Processors, Computer Systems, Computerworld, Credit Reporting Agencies, Data Breach, Data Breaches, Debit Card, Expiration Dates, Federal Criminal Investigations, Heartland Payment Systems, Indictment, Number Of Guests, Payment Processor, Ponemon Institute, Radisson Hotels, Radisson Web, Socia, Three Men 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 »
