All articles tagged with #investment scheme
Originally Published 2 months ago — by fbi.gov
The founder and CFO of investment firm 777 Partners, Joshua Wander and Damien Alfalla, have been charged with a $500 million fraud scheme involving misrepresentations, asset pledging, and misuse of funds to deceive lenders and investors, leading to criminal charges and ongoing investigations.
Originally Published 1 year ago — by WKMG News 6 & ClickOrlando
A Miami man lost $42,000 in an Ethereum investment scheme that began with a romance scam on Instagram, using the photograph of a woman claiming to be a CEO of Estee Lauder. The victim made small investments and saw gains, but when he tried to withdraw the funds, he was asked to pay, and his money disappeared. The U.S. Federal Trade Commission reported that losses to romance scams totaled $1.14 billion in 2023, advising people to never send money to anyone they haven't met in person and to be suspicious of promises of increasing their nest egg.
Originally Published 2 years ago — by WBTV
A Charlotte man, Wynn A.D. Charlebois, has pleaded guilty to wire fraud after scheming investors out of over $5.3 million through an investment scheme. Charlebois used various companies he owned to deceive investors, promising risk-free investments, subscription agreements, and loans. Instead, he used the funds for personal expenses and to make Ponzi-style payments to other investors. Charlebois faces a maximum penalty of 20 years in prison and a $500,000 fine.
Originally Published 2 years ago — by The New York Times
Caz Craffy, a former U.S. Army financial counselor, has been charged with wire and securities fraud for defrauding Gold Star families, the immediate relatives of deceased service members, out of life insurance and other benefits. Prosecutors allege that Craffy steered the families towards investments on which he secretly earned substantial commissions, resulting in $3.4 million in investment losses for the families and $1.4 million in commissions for himself. In addition to the criminal charges, Craffy also faces a civil complaint filed by the Securities and Exchange Commission. The charges come after a Washington Post article exposed the families' complaints, leading to proposed legislation to improve the screening of financial counselors employed by the Defense Department.
Originally Published 2 years ago — by Decrypt
Aiden Pleterski, Canada's self-proclaimed "Crypto King," was allegedly kidnapped, tortured, and held for ransom after running an investment scheme that fleeced investors out of millions. Pleterski spent close to $16 million on his personal lifestyle, including renting private jets, going on elaborate vacations, and purchasing exotic vehicles. He was petitioned into bankruptcy last August, and since then, $25 million Canadian worth of claims have been filed in his case. Pleterski was eventually released under the condition that he quickly find money to pay his kidnappers and refrain from contacting law enforcement.