Content Tagged As ponzi_scheme

3 years 2 months ago

Utah man gets 41 months in Ponzi scheme

DENVER (AP) - A federal judge sentenced a Utah man to 41 months in prison for running a Ponzi scheme that targeted 79 residents of the Four Corners area. The Durango Herald reports that Frederick H.K. Baker was sentenced Friday after pleading guilty this summer to two counts of...

4 years 3 months ago

Former Colorado Mormon bishop sent to prison

A former stockbroker accused of running a $21 million Ponzi scheme from his suburban Denver home for 15 years has been sentenced to 12½ years in federal prison. Victims packed the courtroom Tuesday when U.S. District Judge Marcia Krieger sentenced Shawn Merriman. He had pleaded guilty to defrauding at...

4 years 6 months ago

Colorado man sent to prison for Ponzi scheme

A Denver-area businessman has been sentenced to 15 years in prison for running a $32 million Ponzi scheme. Fifty-five-year-old Mark J. Jackson was also sentenced Tuesday to five years of mandatory parole. Jackson pleaded guilty earlier this year to a felony charge of racketeering. Prosecutors say he took money...

4 years 7 months ago

Denver-area man accused in Ponzi scheme

A hedge fund manager who claimed his investments never lost money even during the downturn faces allegations of running a Ponzi scheme. Sean Mueller claimed assets of $122 million in one fund in December. Bank accounts seized by Colorado Tuesday showed a balance of $15 million, regulators said Tuesday....

4 years 7 months ago

Boulder company accused of Ponzi scheme

The owners of a Boulder investment firm are accused of running a ponzi scheme that promised investors annual returns of between 20 percent and 500 percent. Bela A. Geczy of Longmont and Michael Kass are accused of muliple counts of securities fraud and organized crime in a scheme that...

4 years 10 months ago

Florida ex-attorney pleads guilty in Ponzi scheme

A disbarred South Florida attorney has pleaded guilty to federal charges that he ran a $1.2 billion Ponzi scheme using phony legal settlements. Scott Rothstein pleaded guilty Wednesday in Fort Lauderdale federal court to five charges, including racketeering, fraud and money-laundering conspiracy. The 47-year-old faces a maximum of 100...

5 years 1 month ago

Madoff yacht, boats sold at auction in Florida

Bernard Madoff's yacht "Bull," two smaller boats and a Mercedes-Benz convertible have been auctioned in Florida for more than $1 million combined. Madoff's 1969 Rybovich, a 55-foot fishing boat, sold for $700,000 to an unknown buyer. A 38-foot Shelter Island runabout named "Sitting Bull" went for $320,000 and the 24-foot...

5 years 1 month ago

Madoff's yacht, 2 smaller boats up for auction

A vintage 55-foot yacht named "Bull" and two smaller boats that once belonged to imprisoned financier Bernard Madoff are headed for the auction block, along with an even bigger yacht once owned by Madoff's right-hand man. Madoff's 1969 Rybovitch sportfisher, a wooden boat meticulously restored, is the prize offering...

5 years 1 month ago

Madoff's long-time auditor pleads guilty

Disgraced financier Bernard Madoff's longtime auditor has entered a guilty plea in a federal court in Manhattan. David Friehling entered a plea Tuesday. The judge was questioning him before deciding whether to accept it. Prosecutors said previously that they expected Friehling to plead guilty to securities fraud and...

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