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Tag Archives: Ponzi schemes

SEC, U.S. Attorney Prosecute Miami Ponzi Scheme That Targeted Retirees

By Gregory Tendrich, P.A. |

A Miami resident is facing federal criminal charges for allegedly running a Ponzi scheme targeting retired public sector workers. Phil Donnahue Williamson has already settled civil charges brought by the U.S. Securities and Exchange Commission, agreeing to repay nearly $750,000 to investors. The U.S. Attorney’s Office in Miami separately charged Williamson with investment advisor… Read More »

SEC Charges Rhode Island Broker With Running $11 Million Ponzi Scheme

By Gregory Tendrich, P.A. |

On May 7, the U.S. Securities and Exchange Commission charged a Rhode Island investment adviser with running what amounted to a Ponzi scheme. The SEC alleges Patrick Churchville used his one-man company, ClearPath Wealth Management, LLC, to defraud investors out of millions of dollars. The SEC has asked a federal judge in Providence to… Read More »

Michigan Real Estate Promoter Sentenced for Running Ponzi-Type Scheme

By Gregory Tendrich, P.A. |

On April 24, a Michigan judge sentenced a former real estate promoter to prison after a jury convicted him in March of orchestrating what the state attorney general and the U.S. Securities and Exchange Commission described as a Ponzi scheme. Even at his sentencing hearing, Joel I. Wilson maintained he never intended to defraud… Read More »

Feds Charge Son-in-Law of Prominent New York Politician With Securities Fraud

By Gregory Tendrich, P.A. |

On April 13, federal prosecutors in New York City charged a Brooklyn man with scheming to defraud investors out of more than $7 million. The U.S. Attorney’s Office in Manhattan claims Marcello Trebitsch, also known as Yair Trebitsch, promised to invest customer funds while actually appropriating money for himself. Trebitsch is married to the… Read More »

SEC Cannot Be Sued for Failing to Stop Ponzi Scheme Sooner

By Gregory Tendrich, P.A. |

Federal securities regulators are responsible for identifying and stopping fraud that harms investors. But what happens when the regulators act too late? Can the government be held responsible for the negligence of its own officials when they fail to act on obvious warning signs of securities fraud? A federal appeals court recently addressed this… Read More »

Ex-Miami Dolphins Player Accused of Running Ponzi Scheme

By Gregory Tendrich, P.A. |

Miami Dolphins fans may remember Will Allen’s five-year stint with the team as a defensive back. Allen played 11 seasons altogether in the NFL, ending his career with the New England Patriots in 2012. However, Allen’s time in New England was not exclusively devoted to football; he also co-founded a group of investment companies… Read More »

Final Defendant Sentenced in Massive North Carolina Ponzi Scheme

By Gregory Tendrich, P.A. |

Earlier this year, a federal judge in North Carolina sentenced the 11th and final defendant in a massive Ponzi scheme that cost investors upwards of $40 million. The so-called Black Diamond Ponzi Scheme conned about 400 victims with promises of significant profits through trading in foreign currencies. Unlike traditional securities markets, foreign exchange (or… Read More »

SEC Says Buffalo Man Running Ponzi Scheme

By Gregory Tendrich, P.A. |

On Feb. 27, the U.S. Securities and Exchange Commission obtained an emergency order from a federal judge in Buffalo, freezing the assets of a venture capital fund manager accused of running a “Ponzi-like scheme.” Regulators believe the fund manager made false promises to investors about his ability to obtain pre-IPO shares of popular stocks… Read More »

Another Man Sentenced in Connection with Billion-Dollar Florida Ponzi Scheme

By Gregory Tendrich, P.A. |

On Feb. 20, a federal judge in Miami sentenced former attorney Frank Preve to 3½ years in jail for his role in one of the most infamous Ponzi schemes of all time. Preve is among dozens of people convicted of criminal charges in connection with the scheme, which was orchestrated by the now-defunct law… Read More »

Canadian Jury Convicts Two Men for Running $400 Million Ponzi Scheme

By Gregory Tendrich, P.A. |

On Feb. 14, a jury in Calgary, Alberta convicted Gary Sorenson and Milowe Brost of securities fraud for their role in what has been described as the largest Ponzi scheme in Canadian history. Prosecutors for the Canadian Crown presented evidence Sorenson and Brost defrauded more than 3,000 people, including a number of U.S. residents,… Read More »

Gregory Tendrich, PA
Gregory Tendrich, P.A. serves clients throughout Florida, including the cities of West Palm Beach, Palm Beach, Delray Beach, Boynton Beach, Boca Raton, Port St. Lucie, Lake Worth, Wellington, Riviera Beach, Palm Beach Gardens, Fort Pierce, Vero Beach, Hobe Sound, Jupiter Island, North Palm Beach, Lake Park, Lantana, Stuart, Palm City, Jensen Beach, Tequesta and Juno Beach and represents clients in Palm Beach County, Martin County, St. Lucie County, Indian River County and throughout Florida.

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