Securities

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Ponzi Schemer Receives 27-Year Sentence for $12.3 Million Scheme
Posted on 14 Nov 2012 by Jordan D. Maglich

A Georgia federal judge handed down a 27-year sentence - the longest of its its kind in Atlanta for a fraudulent investment scheme - to a New York man convicted of operating a Ponzi scheme that duped investors out of more than $12 million. Andrew Mackey... Read More

Fourteen Charged For Ignoring Red Flags Suggesting Fund Was A Fraud
Posted on 15 Jun 2012 by Thomas O. Gorman

The Commission brought an action naming fourteen individuals as defendants who sold interests in a massive Ponzi scheme. The complaint centers on claims that they ignored red flags indicating that the fund was a fraud. SEC v. Arias, CV 12-2937 (E.D.N... Read More

Madoff Losses Down from $65 Billion to $20 Billion
Posted on 12 Mar 2010 by Doug Cornelius

How do you value fraud? When the Madoff ponzi scheme collapsed the claim was that there was $65 billion in losses. That was the total dollar value on the account statements given to investors. Of course, that number was fictional because there were... Read More

  • Blog Post: Madoff Losses Down from $65 Billion to $20 Billion

    How do you value fraud? When the Madoff ponzi scheme collapsed the claim was that there was $65 billion in losses. That was the total dollar value on the account statements given to investors. Of course, that number was fictional because there were not real assets behind those numbers. The trustee...
  • Blog Post: Fourteen Charged For Ignoring Red Flags Suggesting Fund Was A Fraud

    The Commission brought an action naming fourteen individuals as defendants who sold interests in a massive Ponzi scheme. The complaint centers on claims that they ignored red flags indicating that the fund was a fraud. SEC v. Arias, CV 12-2937 (E.D.N.Y. Filed June 12, 2012). The action focuses on...
  • Blog Post: Ponzi Schemer Receives 27-Year Sentence for $12.3 Million Scheme

    A Georgia federal judge handed down a 27-year sentence - the longest of its its kind in Atlanta for a fraudulent investment scheme - to a New York man convicted of operating a Ponzi scheme that duped investors out of more than $12 million. Andrew Mackey, 62, received the sentence from United States District...