The Securities and Exchange Commission today charged a prominent Miami Beach-based businessman and philanthropist with fraud for orchestrating a $900 million offering fraud and Ponzi scheme.The SEC alleges that Nevin K. Shapiro, the founder and president of Capitol Investments USA, Inc., sold investors securities that he claimed would fund Capitol’s grocery diverting business.
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SEC Charges Prominent Miami Beach Businessman in $900 Million Ponzi Scheme
April 21st, 2010 
Before You Invest 
Posted in Finance Fraud 
Tags: Business Relationships, Business Ventures, Businessman, Diverters, Free Investment, Groceries, Investor Money, Lavish Lifestyle, Miami Beach, Philanthropist, Ponzi Scheme, Prominence, Promissory Notes, Regional Office, Sec Charges, Securities And Exchange Commission, Shapiro, Southern District Of Florida, Unrelated Business, Word Of Mouth 
Comments OffSEC charges New York money manager Philip Barry
September 13th, 2009 Before You Invest A New York-based money manager has been charged with running a $40 million Ponzi scheme by the Securities and Exchange Commission (SEC).Philip Barry of Brooklyn is alleged to have orchestrated the fraud through three of his firms – Leverage Group, North American Financial Services and Leverage Option Management.The SEC said he promised around 800 investors high returns from the sale of liquid investments, but instead used their money for private interests.It also alleged that Mr Barry guaranteed returns of as much as 21 per cent per year through the use of a proven trading strategy and misrepresented that the investors’ money would be used to trade in options and other securities.Director of the SEC’s regional office in New York George Canellos described him as being “unscrupulous and unregulated”, adding that he “lured” his victims with “fake promises” of profits and liquidity.Last month, the regulatory body filed a charge against Las Vegas accountant Michael Moore, who is alleged to have conducted securities fraud by issuing fake audit reports.
Posted in Finance Fraud Tags: Accountant, American Financial Services, Audit Reports, Brooklyn, False Promises, Leverage Group, Liquid Investments, Liquidity, Michael Moore, Money Manager, Philip Barry, Private Interests, Regional Office, Regulatory Body, Sec Charges, Securities And Exchange, Securities And Exchange Commission, Securities Fraud, Trading Strategy, York Money 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 »Securities and Exchange Commission charged a missing hedge fund manager with fraud
January 22nd, 2009 Before You Invest Securities and Exchange Commission charged a missing hedge fund manager with fraud on Wednesday, saying he misled investors and overstated the value of investments in six of his funds by at least $300 million.The six funds appear to have total assets of less than $1 million, the S.E.C.
Posted in Finance Fraud Tags: Civil Lawsuit, David Nelson, Federal District Court, Freezes, Hedge Fund Manager, Hedge Funds, Injunctions, Investment Advisers, Investment Companies, Investment Partners, Nadel, Regional Office, Restitution, Sarasota Fla, Sarasota Herald Tribune, Securities And Exchange Commission, Suicide Note, Tampa Fla, Victory Fund, Wrongdoing Comments OffSEC Halts Ponzi and Affinity Fraud Scheme
January 1st, 2009 Before You Invest The Securities and Exchange Commission has obtained an emergency court order to halt an alleged Ponzi scheme and affinity fraud that collected more than $23 million from thousands of investors in the Haitian-American community nationwide through a network of purported investment clubs.The SEC alleges that Creative Capital Consortium LLC and A Creative Capital Concept$, LLC (collectively, Creative Capital) and its principal, George L.
Posted in Finance Fraud Tags: Capital Consortium, Chatman, Creative Capital, David Nelson, Fraud Scheme, Guarantee Results, Haitian Community, Investment Clubs, Investor Funds, New Business Ventures, Personal Funds, Ponzi Scheme, Regional Office, S Trading, Securities And Exchange Commission, Sierra Leone, Successful Trading, Thomsen, Trading Stocks, Unsuspecting Members Comments Off
