Ponzi schemes

  • News

    Kenneth Starr Pleads Guilty, May Go Away For 45 Years

    Meanwhile, Carly Simon, one of his victims in the Ponzi Scheme, tells the Observer, I want him to pay us back, but I don’t want him to suffer beyond that” and his wife, former Scores dancer Diane Passage is seeking backers for her pay per view TV pole dancing competition. [NYO]

    / Sep 10, 2010 at 3:43 PM
  • News

    How To Deal With Needy Investors Demanding Their Money Back

    Yesterday afternoon, Lakewood real estate developer Eliyahu Weinstein was charged with “masterminding” a $200 million scam to defraud investors, starting in September 2005. Along with Vladimir Siforov, Weinstein target Orthodox Jews in his community, “exploiting social and business customs.” And while theirs is not a business model you probably want to aspire to, there is […]

    / Aug 13, 2010 at 2:30 PM
  • News

    Alleged Ponzi Schemer Guy De Chimay Responds To Hideous Allegations

    A couple weeks back Guy de Chimay, the hedge fund manager who appeared on the first season of Wall Street Warriors telling the world “Wall Street takes the brightest people and smashes them into the pavement on a regular basis” and “Wall Street guys have really made the Hamptons what it is,” was accused of […]

    / Jul 6, 2010 at 1:15 PM
  • News

    Woman Who Bilked Investors Had Pretty Good Reason To Do So

    Not an amazing get out of jail free card but I’d say definitely a pretty decent one, which was that Antoinette Hodgson had a dream. A dream to franchise a Dunkin Donuts. (As for the gambling spree, that very well could’ve been part of her investment strategy, you have no idea.) Hodgson, 58, of Montclair, […]

    / Jun 16, 2010 at 5:35 PM
  • News

    Kenneth Starr Made Ponzi Victim Carly Simon Feel Like A Fool Who Might Have To Move Into A Trailer Park

    On Mr. Starr’s promise of 28-percent returns, Simon told the Observer: “I am that naïve and stupid. I thought that that was possible.” On her Martha’s Vineyard estate: “If I sold this house, which is our family compound, if I sold that and lived in a trailer we would have money.” No word at this […]

    / Jun 11, 2010 at 11:16 AM
  • News

    Kenneth Starr’s Wife Might Need To Get A Job

    When you marry a rich man whose income affords you the opportunity to quit your job, it’s important to have a skill-set to fall back on in the event it turns out he’s running a Ponzi scheme. Luckily, Diane Passage, who was told by an SEC lawyer today that regulators will “oppose any attempt to […]

    / Jun 10, 2010 at 3:00 PM
  • News

    Bernie Madoff Has A Few Things To Say

    All statements were communicated via his friends on the inside, for a recent New York article on how life’s been going in the big house. 1. “Fuck my victims” (Berns is of the opinion they’re a bunch of ingrates who he “…carried for twenty years, and now I’m doing 150 years.”)

    / Jun 7, 2010 at 10:30 AM
  • News

    Kenneth Starr’s $7.5 Million Ponzi Palace

    Kenneth Starr’s $7.5 Million Ponzi Palace

    / May 27, 2010 at 5:04 PM
  • News

    Former Scores Stripper Took Cash in Ponzi Scheme

    In the land of mini-Madoff’s, Kenneth Starr isn’t the biggest one out there. But, he did have a list of A-list clients that rivals only Bernie himself. Plus, his wife was a stripper at Scores, which is a lot more than you can say for Ruth Madoff.

    / May 27, 2010 at 4:54 PM
  • News

    Allen Stanford Wants Out Of Prison, Claims Constitutional Rights, Among Other Things, Are Being Violated

    Hey remember Allen Stanford? It’s been a while, hasn’t it? When we last checked in with the accused Ponzier, in December, a prison psychologist was arguing that if the guy wasn’t let out of jail ASAP, it was very likely he’d “a complete nervous breakdown.” Apparently that wasn’t a convincing argument for those who make […]

    / May 19, 2010 at 10:46 AM
  • News

    More Charges Coming for Madoff Cohorts

    Looks like Bernie Madoff’s right hand man, Frank DiPascali, is squealing like a pig to federal investigators, who are preparing criminal charges against two more Madoff employees. It’s unclear who the new charges are being brought against, but it appears Bernie’s two boys and his brother may have dodged securities fraud for now.

    / Apr 30, 2010 at 3:18 PM
  • News

    Shaq Once Bench-Pressed Florida Grocery Arbitrageur, But Did Not Take His Diamond Handcuffs

    Shaquille O’Neal may have hung out with, and even bench-pressed, accused Florida Ponzi man Nevin Shapiro, but he flatly denies Shapiro ever gave him a pair of diamond-studded handcuffs. Shapiro, who liked to hang out with pro athletes, was arrested last week on charges of running a $900 million Ponzi scheme. He promised investors annual […]

    / Apr 26, 2010 at 12:34 PM
  • News

    Florida Grocery Arbitrageur Busted in $900M Ponzi Scheme

    Only in South Florida can a guy dupe investors out of $900 million by promising guaranteed annual returns of 10-26 percent from profits on arbitraging groceries. Reminds you of the Seinfeld episode when Kramer and Newman decided to collect empty bottles in New York and drive them to Michigan to get the extra deposit money. […]

    / Apr 21, 2010 at 12:23 PM
  • News

    “Pretty Okay Dude” Defense Turns Out Not To Work For Tom Petters

    Tom Petters was sentenced by a judge today for his $3.65 billion Ponzi scheme and surprise! The fact that his lawyer described him as a “a flawed, but benevolent individual, a very decent guy” (save for the whole massive scam thing) did not help much. A federal judge sentenced Minnesota Petters to 50 years in […]

    / Apr 8, 2010 at 4:13 PM
  • News

    Spotted: Ruth Madoff

    Ruth Madoff is at the social security office in Rockland County, circa now, and not looking that bad, all things considered.

    / Feb 18, 2010 at 3:07 PM
  • News

    Allen Stanford Wants Out Of Prison ASAP

    If accused Ponzi schemer Allen Stanford is not released from the big house on bail, it’s very likely that he will go batshit insane, according to a prison psychologist. This is sad for a couple of reasons: 1) it sounds like he really might be losing it and should be let out and 2) no […]

    / Dec 23, 2009 at 10:15 AM

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