NEW JERSEY – Ahmet Neidik, 65, of Fort Lee, New Jersey, was sentenced on March 7, 2024, to 18 months in prison for his involvement in a nationwide off-the-road tire …
Ponzi scheme
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Money-Laundering ScamsPonzi Scam
ED Arrests Jawahar Lal Shah in Connection with Ponzi Scheme in Bihar
by Ananya MehtaThe Enforcement Directorate (ED), Patna Zonal Office, arrested Jawahar Lal Shah under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, in connection with a Ponzi scheme. Shah …
by Ananya Mehta -
Wilmington, N.C. — Willard Sutton, 64, of Winterville, North Carolina, has pled guilty to running a Ponzi scheme that defrauded more than 60 investors of over $8 million. Sutton, a …
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A San Diego man, Denny Thakorbhai Bhakta, has been sentenced to more than 19 years in federal prison for securities fraud, bank fraud, and money laundering, linked to a $35 …
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FinancialInvestment Scams
School Principal Arrested in BZ Group Ponzi Scam in Gujarat
by Ananya MehtaThe Gujarat Crime Investigation Department (CID) on Wednesday arrested Vinod Patel, a school principal, for his involvement in the multi-crore BZ Group Ponzi scam. His arrest brings the total number …
by Ananya Mehta -
Fake Financial Services ScamsFinancial
Matthew Mencarelli Sentenced to 97 Months for $1.6 Million Fraud Scheme
BELMONT, Mich. (CBS12) — Matthew Mencarelli, 39, from Belmont, Michigan, has been sentenced to 97 months in federal prison for running a wire fraud scheme that defrauded 15 victims out …
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Charity Scams
Four Arrested in Salem for Running Ponzi Scheme, Cheating Investors of Crores
by Ananya MehtaThe Economic Offences Wing (EOW) police in Salem have arrested four trustees, including the founders of the St. Mother Theresa Humanitarian Charitable Trust, for allegedly deceiving investors and cheating them …
by Ananya Mehta -
FinancialInvestment Scams
Delhi Police Arrest Man for Running Rs 80 Lakh Ponzi Scheme
by Ananya MehtaDelhi Police have arrested Inderjeet Singh (55) for allegedly cheating over 65 individuals out of approximately Rs 80 lakh through a fraudulent Ponzi scheme. The Economic Offences Wing (EOW) of …
by Ananya Mehta -
R.L., also known as “Lord Lester,” a professional gambler from Luton, England, was recently convicted and sentenced to five years in prison for scamming nearly 200 individuals with promises of …
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FinancialInvestment Scams
Hyberabad EOW Arrests Two for Rs 850 Crore Falcon Invoice Discounting Scam
by Ananya MehtaThe Economic Offences Wing (EOW) of Hyberabad arrested two individuals on Saturday for allegedly swindling Rs 850 crore through fraudulent promises of high returns in the Falcon Invoice Discounting Platform …
by Ananya Mehta