I'm very familiar with Stanford Financial and that scheme. I was personal friends with the CFO Jim Davis. Talk about someone who hid their nefarious deeds well. He was a Christian (so-called), church leader, his sons and mine went to school and played sports together. (He and I even nearly got thrown out during an intense basketball game our sons played where we started yelling at the ref!) My son even worked in one of his money-laundering businesses - a restaurant. Oh, and both his son and mine worked one summer at Stanford. Almost forgot about that.
Talk about the shock when we found out he was part of that scheme and brought others into it -- we were dumbfounded!
The case that brought the insider trading law was the manipulation of the Comstock Min stock. Look up Flood, Fair, O'Brian, and McKay It is in "The Big Bonanza," by Dan De Quille. When the ore ran out, the stockholders would be assessed in order to explore for more. the stock would loose most of its value. When a new lode was found McKay and Fair would send a messenger to SF where Flood and O'Brian would buy up all the stock they could before the word got out. Fair's daughter went on to marry into the Vanderbilts. .
You are missing the biggest Ponzi master of all. He signed contracts with 2000 small business companies for work on his hotels. Then refused to pay when the work was done, said it had not been done right even after it passed inspections. Told them to sue, which he knew as civil suits, could take two years or more to get to court. Then offered half, which they accepted as they could not wait that long for even the smaller amount.
"Then he sold stock in his made up companies, like a stake company, an airline, and some casinos. He made himself president of these companies, loaded them up with debt, paid himself but did not invest any of his own money. Put the companies into bankruptcy, got paid for that too.
Not to beat a dead horse too much, but stumbled upon this handy resource after looking for the case of the gold-mine share selling minister and couples' counselor whose case I covered in Charleston in 1991, and at whose trial a female FBI investigator (the model for 'Clarice' in 'Silence of the Lambs') testified about the unknown subject's profile until he was caught. He, too, cited biblical references to convince his family, his wife, and couples he counseled to invest in a salted gold mine in Nevada...https://theponzibook.blogspot.com/2024/08/august-2024-ponzi-scheme-roundup.html
There’s a new Ponzi uncovered just about every week. This attorney does a nice job of tracking them. Another lawyer does this at ponzitracker.com, but he hasn’t updated in a while. Thanks, Terin.
Another name that should be added to this list is Timothy Krieger of MN now residing in AZ. He creatively stole millions from over 900 victims but went to trial and was founded not guilty by the court. Solid evidence was provided but he managed to lie his way around the jury which was additional proof of his deranged mentality. He presently is living the high life on the investor's money in AZ.
The DOJ in the state of MN is in need of a investigation of it's own and a overhaul.
Does the Social Security Trust Fund deserve a place on this list? People contribute money into the fund only to have its manager (our Dear Leaders) use the fund to invest in increasingly speculative treasuries. Privatization could allow others (our Dear Bankers) to invest in even more speculative ventures (retirement via GameStop, anyone?).
I never tire of these. lol keep them coming! Its like trying to not to look at a a train wreck on the opposite side of the road.
I'm very familiar with Stanford Financial and that scheme. I was personal friends with the CFO Jim Davis. Talk about someone who hid their nefarious deeds well. He was a Christian (so-called), church leader, his sons and mine went to school and played sports together. (He and I even nearly got thrown out during an intense basketball game our sons played where we started yelling at the ref!) My son even worked in one of his money-laundering businesses - a restaurant. Oh, and both his son and mine worked one summer at Stanford. Almost forgot about that.
Talk about the shock when we found out he was part of that scheme and brought others into it -- we were dumbfounded!
Thanks, Paul. Amazing how many white collar criminals hide behind the flag and the cross.
Well, like the Bible says, the deeds done in darkness will be shouted from the rooftops. His sure were.
The case that brought the insider trading law was the manipulation of the Comstock Min stock. Look up Flood, Fair, O'Brian, and McKay It is in "The Big Bonanza," by Dan De Quille. When the ore ran out, the stockholders would be assessed in order to explore for more. the stock would loose most of its value. When a new lode was found McKay and Fair would send a messenger to SF where Flood and O'Brian would buy up all the stock they could before the word got out. Fair's daughter went on to marry into the Vanderbilts. .
You are missing the biggest Ponzi master of all. He signed contracts with 2000 small business companies for work on his hotels. Then refused to pay when the work was done, said it had not been done right even after it passed inspections. Told them to sue, which he knew as civil suits, could take two years or more to get to court. Then offered half, which they accepted as they could not wait that long for even the smaller amount.
"Then he sold stock in his made up companies, like a stake company, an airline, and some casinos. He made himself president of these companies, loaded them up with debt, paid himself but did not invest any of his own money. Put the companies into bankruptcy, got paid for that too.
The got elected U.S. president.
Not to beat a dead horse too much, but stumbled upon this handy resource after looking for the case of the gold-mine share selling minister and couples' counselor whose case I covered in Charleston in 1991, and at whose trial a female FBI investigator (the model for 'Clarice' in 'Silence of the Lambs') testified about the unknown subject's profile until he was caught. He, too, cited biblical references to convince his family, his wife, and couples he counseled to invest in a salted gold mine in Nevada...https://theponzibook.blogspot.com/2024/08/august-2024-ponzi-scheme-roundup.html
There’s a new Ponzi uncovered just about every week. This attorney does a nice job of tracking them. Another lawyer does this at ponzitracker.com, but he hasn’t updated in a while. Thanks, Terin.
Another name that should be added to this list is Timothy Krieger of MN now residing in AZ. He creatively stole millions from over 900 victims but went to trial and was founded not guilty by the court. Solid evidence was provided but he managed to lie his way around the jury which was additional proof of his deranged mentality. He presently is living the high life on the investor's money in AZ.
The DOJ in the state of MN is in need of a investigation of it's own and a overhaul.
Does the Social Security Trust Fund deserve a place on this list? People contribute money into the fund only to have its manager (our Dear Leaders) use the fund to invest in increasingly speculative treasuries. Privatization could allow others (our Dear Bankers) to invest in even more speculative ventures (retirement via GameStop, anyone?).
Yes, but it doesn’t make this list because it’s all legal and hasn’t blown up … yet.