Tri Energy an Affinity Fraud and Ponzi Scheme

From The BizOp News blog by Michael Webster, Tri Energy: Massive Affinity Fraud And Ponzi Scheme.

A U.S. District Judge in California ruled against Tri Energy Inc., H&J Energy Company Inc., and several others last week. The defendants are permanently enjoined from committing violations of Securities and Exchange Commissions rules. Specifically, they may not solicit investments of the type at issue in the case. Defendants were also ordered to pay disgorgement and civil penalties.

Read moreTri Energy an Affinity Fraud and Ponzi Scheme

Pinnacle Development Partners Charged With Running a Ponzi Scheme

Pinnacle Development Partners LLC has been charged with running a Ponzi scheme that took $69 million from over 2,000 investors. The top man, Gene O’Neal was charged with 19 counts of federal mail and wire fraud.

In 2006, Pinnacle advertised 25% returns in 60 days (which equals a 280% annual return).  The company claimed it earned such high returns by purchasing distressed real estate and quickly selling it at a profit.

Read morePinnacle Development Partners Charged With Running a Ponzi Scheme

Scam Busting: The Development of Charles Ponzi’s Pyramid Scheme

Ponzi demonstrated to himself that he could achieve astronomical profits with the postal reply coupons, a far better return on investment than interest paid by the banks or profits created in the stock market.

His investment pitch included the mention of the International Reply Coupons, as he was depending upon the legitimacy of the U.S. Postal Service to bolster his image. However, Ponzi was careful not to give away too many details of his plan, lest potential investors would become skeptical or steal his idea and start companies of their own.

Read moreScam Busting: The Development of Charles Ponzi’s Pyramid Scheme

Scam Busting: The Father of the Pyramid Scheme

Charles Ponzi could be described as a clever businessman, or a ruthless cheater, depending upon how you look at him. I view him primarily as a charismatic leader who was able to convince people to give him large sums of money, even when they did not understand his investment scheme.

After an unremarkable professional life and a stint in prison, Mr. Ponzi devised a scheme utilizing .postal reply coupons. in the early 1900s. These coupons were included with letters to family, and the family could redeem the coupon at the post office for postage on a return letter. Mr. Ponzi.s scheme seemed simple: trade international postal reply coupons to turn a profit.

Read moreScam Busting: The Father of the Pyramid Scheme

Operator of Ponzi Scheme Sentenced to 30 Years

James Lewis Jr., the operator of one of the largest Ponzi schemes in U.S. history was sentenced to 30 years in prison last week. That was the maximum sentence that could be imposed. He was also ordered to pay $156 million in restitution. The sentence comes after a guilty plea to one count of money … Read more Operator of Ponzi Scheme Sentenced to 30 Years

Milwaukee Fraud: Convicted Con Artist Gets 30 years

Leslie John Hamilton was sentenced to 30 years in prison for masterminding a pyramid scheme that he claimed was an investment in rare coins. The scheme involved over 300 victims, who lost more than $10 million. Hamilton was convicted by a federal jury on 28 counts of mail fraud and wire fraud, after representing himself … Read more Milwaukee Fraud: Convicted Con Artist Gets 30 years