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Posts tagged "Ponzi scheme"

Former Innkeeper facing allegations of fraud


Being accused of a crime related to the work environment is often serious and could damage their personal and professional reputation. This involves a broad range of criminal activities from embezzlement and wire fraud to ponzi schemes and more. While the term white collar crime is broad, what these crimes tend to have in a common is that they involve crimes of deceit motivated by financial award. While federal authorities take all federal crimes seriously, in recent years there has been an increased focus on white collar crimes.

Sacramento accountant arrested for $4 million tax fraud scheme

The pressure to crack down on white-collar crimes seems to be increasing every week. From Ponzi schemes to tax fraud, there is simply no end to the arrests that are coming from the Department of Justice against California residents for alleged involvement in white-collar crimes. The following is a story about a Sacramento area accountant who was recently accused of committing fraud in an elaborate tax scheme worth $4 million.

California man arrested for $50 million Ponzi scheme

A Ponzi scheme is a form of white-collar crime that involves investment fraud. In recent years, Ponzi schemes and other white-collar crimes have received considerable attention, as many large schemes have become public. In particular, Ponzi schemes became well known following the very public trials of businessman Tom Petters and financier Bernard Madoff.

Former Sacramento mortgage broker sentenced to 14 years in prison

The umbrella of white collar crime describes a bevy of criminal offenses, primarily motivated personal financial gain. The most common forms of white collar crimes are probably tax evasion, money laundering or insider trading. Over the last decade, however, mortgage fraud has topped the list, with prosecutors cracking down on violators.

White collar crimes charges for California talk radio host

Sacramento financial services industry professionals may be interested to hear that a 54-year-old ex-investment manager has been accused of running a Ponzi scheme. The Los Angeles resident was indicted on Dec. 8 by a federal grand jury on 41 counts of alleged white collar crimes involving fraud. The man is well-known in the Iranian-Jewish community for hosting a Farsi language radio show about investing.Until 2010, the radio host operated an investment advisory firm out of Beverly Hills, through which he allegedly sold in excess of $20 million worth of investment products to over 100 investors (mostly Iranian-Jewish residents he attracted through his radio program). Allegedly, the man falsely told investors that his company made highly secure investments that were in line with the safe strategies he recommended on his radio show. But the indictment alleges that he used investor money to engage in high-risk option trading strategies to finance payouts to earlier investors, and to finance his own living expenses. But he purportedly didn't inform investors in 2008 when he lost more than $15 million of their money on bad option trades.

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