Recent Posts

Former Attorney Pleads Guilty To $7.8 Million Ponzi Scheme
Posted on 25 Oct 2012 by Jordan D. Maglich

A Houston man admitted that he operated a Ponzi scheme that defrauded victims out of at least $7.8 million. Billy Frank Davis, 67, a former attorney, attracted potential investors by claiming he was a successful real estate investor. Pleading guilty last... Read More

Jury Convicts Investment Adviser on Multiple Counts of Fraud
Posted on 30 Jul 2014 by Thomas O. Gorman

James Tagliaferri, the former President of TAG Virgin Islands, a registered investment adviser, was found guilty by a jury of one count of investment adviser fraud, six counts of violating the Travel Act, one count of securities fraud and four counts... Read More

Two New Jersey Men Admit to $3.5 Million Ponzi Scheme; 'Secret Computer Trading Program' Was Fake
Posted on 16 Aug 2012 by Jordan D. Maglich

Two New Jersey men pled guilty to charges that they masterminded a Ponzi scheme that duped investors out of nearly $4 million. Carmelo Provenzano, 29, and Daniel Dragan, 41, both entered into plea agreements with prosecutors in which they pled guilty... Read More

This Is One Market Crisis Investigation with Positive Results
Posted on 4 Apr 2011 by Thomas O. Gorman

The Taylor, Bean & Whitaker investigation spawned guilty plea number five on Friday. Paul Allen, the former CEO of the collapsed firm, pleaded guilty to conspiracy to commit bank and wire fraud and making false statements. U.S. v. Allen (E.D. Va... Read More

Man Who Operated Charity As Ponzi Scheme Sentenced to Eight Years in Prison
Posted on 13 Sep 2012 by Jordan D. Maglich

A federal judge handed down an eight-year prison term to a man who duped investors out of millions of dollars in a Ponzi scheme that masqueraded as a charitable organization. Joseph Angelo Sivigliano, 80, received the sentence from United States District... 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

Authorities Charge Three With $28 Million Ponzi Scheme That Targeted Retirees
Posted on 22 Oct 2012 by Jordan D. Maglich

Authorities charged three men with operating a massive Ponzi scheme that targeted retirees and raked in nearly $30 million. Robert C. Pribilski, 54, Mahmut Erhan Durmaz, 42, and John T. Burns III, 53, were each charged with multiple criminal fraud counts... Read More