Bert Whalen was ordered to serve over 3 years in prison for his role in a scheme to sell hundreds of dilapidated homes to rookie…
Posts published in “Ponzi scheme”
Executives of investment firm iCap ran the scheme from 2013 to 2022, a federal bankruptcy judge ruled this week. They turned to the scheme when…
Federal prosecutors announced Wednesday that Cesar Pina had been charged with one count of wire fraud for running a pyramid scheme targeting real estate investors. …
“Nearly everything about his scheme was a lie,’” the SEC says in new charges against the investor, who raised money to buy homes in northern…
Robert Shapiro’s Woodbridge Group reportedly promised low-risk investments with high-risk returns, but instead, the money was shuffled into shell companies. Source: Inman News
The U.S. Securities and Exchange Commission filed an emergency action Thursday against New York State real estate developer Robert Morgan. Source: Inman News
A New York-based real estate developer was sentenced to six years in prison on Thursday for running a years-long scheme to defraud investors of $58…