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
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 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
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
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
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 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