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Jordan D. Maglich
Self-Described "Idiot" Charged With $1.5 Million Ponzi Scheme

A New Jersey man was charged with multiple violations of federal securities laws for operating what authorities allege was a Ponzi scheme that duped investors out of over $1.1 million. William Wells, along with his company, Promitor Capital Management...

Jordan D. Maglich
Banker Tied to Rothstein's Massive Ponzi Scheme Will Plead Guilty

Just before his trial was scheduled to begin next month, a former TD Bank vice president will plead guilty to a wire fraud conspiracy charge related to his relationship with convicted Ponzi schemer Scott Rothstein. Frank Spinosa, 54, is scheduled to plead...

Jordan D. Maglich
Victims of $200 Million Ponzi Scheme Set to Recover 9% of Losses

Nearly six years after a raid by the Federal Bureau of Investigation uncovered a $200 million Ponzi scheme masterminded by Tim Durham, a bankruptcy trustee tasked with recovering funds for scheme victims has announced his intention to make a first distribution...

David N. Feldman
SEC Advisory Group Recommends Private Placement Finders Be Exempted From Broker Registration

Yesterday, the SEC’s Advisory Committee on Small and Emerging Companies, comprised of a number of smart and thoughtful people I know, made some terrific recommendations to the Commission. The biggest, something for which many have been waiting for...

Ballard Spahr LLP
CFPB Highlight Mortgage Complaints in Third Monthly Complaint Report

by Barbara S. Mishkin The CFPB has issued its September 2015 complaint report, the third in its new series of monthly complaint reports. The new report spotlights mortgage complaints and complaints from consumers in the Denver, Colorado metro area...

Jordan D. Maglich
Texas Man Admits to $4.5 Million Bitcoin Ponzi Scheme

In what is widely believed to be the first Ponzi scheme involving virtual cryptocurrency Bitcoin, a Texas man pleaded guilty to one count of securities fraud in a scheme that raised nearly $5 million in Bitcoin from investors who were promised astronomical...