Winans sentenced: Gospel singer Michael Winans Jr. was slammed by a judge, prosecutor, and victims when he was sentenced for a Ponzi scheme that defrauded investors out of $8 [...]
The brother of jailed Ponzi schemer Bernard Madoff was sentenced to 10 years in prison for crimes he committed in connection with his brother’s case.
A New York-based investment fund agreed to pay a $210 million settlement to investors who suffered losses from Bernard Madoff’s massive Ponzi scheme.
Hedge fund manager J. Ezra Merkin, who lost about $1.2 billion of his clients’ money to Bernard Madoff’s investment scam, has agreed to pay his clients $405 million in [...]
Allen Stanford, the former Texas billionaire financier, was sentenced Thursday to 110 years in prison for conducting a $7 billion Ponzi scheme, according to the FBI.
A Bronx tax preparer was charged with 35 counts of fraud, money laundering, and grand larceny in a Ponzi scheme worth around $4.6 million.
Ponzi schemes rely on people falling for promises that are literally too good to be true.
A prominent figure in Toronto’s Chinese community has been charged with orchestrating a $60-million Ponzi scheme.
A bankrupt Yilishen ant farmer killed herself by jumping off her apartment building in China’s northeastern city of Fushun on January 9, leaving behind her 13-year-old son and [...]