Tag Archives: Ponzi schemes

DOJ: Fake Pastors Scammed Christians Out Of $28M

Via press release from the Justice Department: A federal grand jury has indicted Dennis Jali, age 35, formerly of Upper Marlboro, Maryland; John Erasmus, age 40, of Upper Marlboro; and Arley Johnson, age 61, of Bowie, Maryland on federal charges of conspiracy, wire fraud, securities fraud, and money laundering. The indictment was returned on July 27, 2020, and was unsealed …

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TX Christian Radio Host Gets 25 Years In $20M Scam

The Dallas Morning News reports: William Neil “Doc” Gallagher, a financial consultant and radio host who stole more than $20 million from investors, has been sentenced to 25 years behind bars after he reached a plea agreement with Dallas County prosecutors. Gallagher, 79, pleaded guilty Friday to one count each of theft of more than $300,000, money laundering of more …

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Ponzi Schemer Bernie Madoff Asks Trump For Clemency

CNBC reports: Notorious Ponzi schemer Bernie Madoff has filed a petition with the Justice Department asking that President Donald Trump reduce his 150-year prison sentence. Madoff, 81, is currently serving that sentence in a federal prison in Butner, North Carolina, for orchestrating the largest Ponzi scheme in history. His decadeslong scam conducted while heading Bernard L. Madoff Investment Securities in …

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Pastor Won’t Return $1.7 Million Donation Stolen From Victims Of Bitcoin Ponzi Scheme: “It’s God’s Blessing”

The Palm Beach Post reports: Calling it “God’s blessings,” the pastor of a suburban West Palm Beach church on Thursday refused to turn over $1.7 million that financial regulators claim rightfully belongs to people who were ensnared in a $30 million Ponzi scheme. A federal judge has temporarily frozen the accounts of Winners Church and its top pastors, Fred and …

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NEW YORK CITY: Feds File Charges In $81M Ponzi Scheme Involving Resale Of Tickets To Hamilton

Via press release from the SEC: The Securities and Exchange Commission today announced fraud charges against two New York City men accused of running a Ponzi scheme with money raised from investors to fund businesses purportedly created to purchase and resell tickets to such high-demand shows as Adele concerts and the Broadway musical Hamilton. The SEC alleges that Joseph Meli …

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Eddie Long Sued For Ponzi Scheme

Atlanta megachurch founder Bishop Eddie Long is being sued by former members of his congregation who claim that he tricked them into sinking their life savings into a Ponzi scheme that operated out of his church. New Birth, Long and Ephren Taylor are all named in the suit filed by 12 former church members who say they lost more than …

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