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The scheme resulted in a conviction for fraud and a lifetime ban from the securities industry. However, this conviction did not stop Steinger. Steinger continued to run a variety of investments scams from oil wells to diet pizza. In 1994, Steinger set up the Mutual Benefits Corporation. [1]
The difficult part of the scam is to do many other things over long years that imbue the con artist and the documents he generates with an aura of wealth around the frontman. In the case of the Trump Organization , the phony financial documents were provided first to independent auditors who themselves then generated third-party documents based ...
Phishing scams happen when you receive an email that looks like it came from a company you trust (like AOL), but is ultimately from a hacker trying to get your information. All legitimate AOL Mail will be marked as either Certified Mail, if its an official marketing email, or Official Mail, if it's an important account email. If you get an ...
The Saradha Group financial scandal was a major political scandal caused by the collapse of a Ponzi scheme run by Saradha Group, a consortium of over 200 private companies that was believed to be running collective investment schemes popularly but incorrectly referred to as chit funds [1] [2] [3] in Eastern India.
On March 12, 2009, Madoff pleaded guilty to 11 federal felonies and admitted to turning his wealth management business into a massive Ponzi scheme. The Madoff investment scandal defrauded thousands of investors of billions of dollars. Madoff said that he began the Ponzi scheme in the early 1990s, but an ex-trader admitted in court to faking ...
Anthony Gignac, a serial con man and fraudster who falsely took on the identity of Saudi prince Khalid bin Al Saud to entrap victims in investment scams and other schemes, currently serving an 18-year jail sentence [26]
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As of 18 May 2018, the scam has ballooned ₹14,356.84 crore (US$2.1 billion) and Nirav Modi is said to be hiding in London, allegedly travelling on a fake passport. [ 11 ] [ 12 ] On 13 June 2018, the CBI approached the Interpol to issue a red corner notice (RCN) against Nirav Modi's brother Nishal and one of his executives in connection with ...