Securities

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California Man Charged With $49 Million Ponzi Scheme
Posted on 6 Nov 2012 by Jordan D. Maglich

Federal authorities arrested a California man of Pakistani descent on charges that he masterminded an investment scheme that raised nearly $50 million from investors. Syed Qaisar Madad, 65, a Pakistani native with Canadian citizenship living in the US... Read More

California Man Receives 65-Month Sentence for $3.3 Million Ponzi Scheme
Posted on 22 Jun 2012 by Jordan D. Maglich

A California man has been sentenced to serve 65 months in federal prison after pleading guilty to operating a Ponzi scheme that duped investors out of over $3 million. Krittibas Ray, 43, of Albany, California, was indicted in December 2011 on two counts... Read More

California Woman Pleads Guilty to $2.2 Million Ponzi Scheme
Posted on 17 Oct 2012 by Jordan D. Maglich

A California woman admitted to masterminding a Ponzi scheme that bilked investors out of at least $2.2 million. Celia Gallardo, 42, pled guilty to a single count of wire fraud stemming from her role in the scheme. She was arrested earlier this year in... Read More

  • Blog Post: California Man Receives 65-Month Sentence for $3.3 Million Ponzi Scheme

    A California man has been sentenced to serve 65 months in federal prison after pleading guilty to operating a Ponzi scheme that duped investors out of over $3 million. Krittibas Ray, 43, of Albany, California, was indicted in December 2011 on two counts of wire fraud and one count of money laundering...
  • Blog Post: California Woman Pleads Guilty to $2.2 Million Ponzi Scheme

    A California woman admitted to masterminding a Ponzi scheme that bilked investors out of at least $2.2 million. Celia Gallardo, 42, pled guilty to a single count of wire fraud stemming from her role in the scheme. She was arrested earlier this year in July after a grand jury returned a sixteen-count...
  • Blog Post: California Man Charged With $49 Million Ponzi Scheme

    Federal authorities arrested a California man of Pakistani descent on charges that he masterminded an investment scheme that raised nearly $50 million from investors. Syed Qaisar Madad, 65, a Pakistani native with Canadian citizenship living in the US as a lawful permanent alien, was charged in a sixteen...