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 » February 1st, 2009 Before You Invest 
David Murcia Guzmán is often disparaged as the Madoff of Colombia, after Bernard L. Madoff, the New York financier accused of creating a $50 billion investment fraud. But to some in the lower classes in one of Latin America’s most stratified of countries, he is a folk hero, and his government-shaking arrest recently was just another example of the extent to which the rich will go to keep the poor in their place.In some ways, the rise and fall of Mr.
Posted in Finance Fraud Tags: Colombians, Economic Crisis, Exotic Cars, Folk Hero, Investment Fraud, Machine Guns, Madoff, Maserati, Mr Murcia, Picota, Private Jet, Provincial Governors, Pyramid Scheme, Pyramid Schemes, Revels, Ruses, Shantytowns, Slums, Southern Fringe, Whi Comments Off
