All articles tagged with #investment scam
A former CEO of fashion tech companies, Christine Hunsicker, was charged with over $300 million fraud for forging documents and misleading investors about her company's financial health, continuing her scheme even after being removed from her position. Despite her previous recognition as a rising star, she allegedly lied about the company's profitability and financial status to inflate its valuation and deceive investors.
Ray Brewer, a man from Porterville, California, has been sentenced to six years and nine months in federal prison for running a multimillion-dollar fraud scheme. Brewer deceived investors by claiming he could convert cow manure into green energy and took in millions of dollars through forged bank agreements, contracts, and fake photos. He promised investors a share of profits and tax incentives from building anaerobic digesters at dairy farms in California. Instead, Brewer transferred the funds to his own accounts and used the money to buy properties and vehicles. Some investors received refunds, but these came from new investors unknowingly contributing to the Ponzi scheme. Brewer changed his name and moved to Montana before being arrested.
A divorced mother of three lost over $100,000 to a scammer she met on Tinder who convinced her to invest in bogus cryptocurrency schemes. The scam, known as "pig butchering," involves building a fake romantic relationship with the victim before providing fraudulent investment advice. The con is reportedly exploding across the US and Australia, with victims losing up to $850,000. The scam is often run by criminal syndicates in Cambodia, and victims are given scripts tailored to their individual circumstances.
Aiden Pleterski, a self-proclaimed "Crypto King" who allegedly defrauded investors out of millions, was kidnapped and tortured by disgruntled creditors. Pleterski, who owned luxury cars and rented a waterfront home for $45,000 a month, promised investors healthy returns of 7%, but ended up filing for bankruptcy. He claimed the money was lost in bad trades and margin calls, but it's estimated that he had only invested 1.6% of the funds he was given. Efforts are now underway to recover as much money as possible for Pleterski's victims.
Ho Wan Kwok, also known as "Miles Guo," has been arrested for orchestrating a $1 billion fraud conspiracy. He and his financier, Kin Ming Je, are charged with wire fraud, securities fraud, bank fraud, and money laundering. The scheme involved soliciting investments through false statements and representations to Kwok's online followers. The defendants misappropriated hundreds of millions of dollars in fraudulently obtained funds during the course of their conspiracy. The US government has seized approximately $634 million from 21 different bank accounts and will seek to forfeit the funds.