LexisNexis® Legal Newsroom
Guilty Plea Expected By 26-Year Old 'Jet-Setter' Accused of $10 Million Ponzi Scheme

A 26-year old south Florida man is expected to plead guilty to criminal charges that he masterminded a $10 million Ponzi scheme that financed a his worldwide jet-setting lifestyle. Donald R. French Jr., 26, is scheduled to appear before a Florida federal judge on March 15, 2013 to enter a plea agreement...

Jury Needs Six Minutes to Convict Texas Man of $11 Million Ponzi Scheme

A federal jury needed just six minutes to return with a guilty verdict against a Texas man on trial for a $11 million Ponzi scheme. Gary Lynn McDuff, 58, was convicted of one count of conspiracy to commit wire fraud and one count of money laundering, each of which carry a maximum sentence of 20 years...

Federal Regulators: Corzine Misused Funds, ‘Responsible’ For MF Global’s Collapse

NEW YORK — (Mealey’s) The U.S. Commodities Futures Trading Commission (CFTC) on June 27 filed a civil complaint in the U.S. District Court for the Southern District of New York, alleging that Jon S. Corzine, as CEO of bankrupt MF Global Holdings Ltd. (MFGH), is legally responsible for MFGH’s...

Former Hawaiian Political Candidate Gets Four-Year Prison Sentence For $1.4 Million Ponzi Scheme

A Hawaiian man who once served as an Army reservist and former president of the Filipino Chamber of Commerce has been sentenced to four years in prison for masterminding a $1.6 million Ponzi scheme that bilked over 30 investors. Jason Pascua, 39, received the sentence after previously pleading guilty...

Husband, Wife, and Son Indicted in $10 Million Ponzi Scheme

In what is being touted as one of the largest investment scams in Boston since Charles Ponzi's infamous scheme nearly 100 years ago, Massachusetts authorities unveiled additional charges against a husband, wife, and previously-uncharged son for orchestrating a massive Ponzi scheme that allegedly...

The SEC Brings Another Case Centered on the EB-5 Immigration Program

The government’s EB-5 program is supposed to be a win win for everyone. For immigrants seeking admission to the United States it is supposed to provide a path to citizenship if the requirements, centered on the investment of $500,000 or more in select projects, are met. For the U.S. it is a job...

SEC Charged Los Angeles-Based EB-5 Lawyers with Securities Fraud

Los Angeles-based EB-5 attorney Justin Moongyu Lee, and his wife Rebecca Taewon Lee and his law firm partner Thomas Edward Kent were charged by the Securities and Exchange Commission today with securities fraud. Misrepresentation to the Investors The Lees and Mr. Kent raised nearly $11.5 million...