Please to meet Zeina Smidi, the Plantation, Fla. yoga instructor ordered by a U.S. District Court judge to pay $5.6 million in fines and disgorgements for her alleged role in a $30 million Ponzi scheme.
According to the
Indeed, while many financial fraudsters go underground once their records become known, Zeeluv has hardly shrunk Read More
At least by this math: Prosecutors recommended a 230-year sentence for convicted financial fraudster Allen Stanford; Mr. Stanford argued that he had not, ahem, operated a Ponzi scheme* but “a real brick-and-mortar global financial empire,” and asked for time served, or about 3 years. So you know, 230 plus 3, divided by 2…and Read More
There is something unpleasant but human about wishing a serious amount of ill on significant villains, or chuckling when they suffer. Stories claimed last year, for example, that Bernie Madoff was dying of cancer, which he wasn’t, and then that he was badly injured by either a fall out of bed or an Read More
Sir Allen Stanford, alleged head of a $7 billion Ponzi scheme, will not be allowed to use a $100 million insurance policy to pay for his defense against the charges, Bloomberg reports.
A Houston federal judge said that Stanford probably laundered money, and (this is a little surprising) he should have told his insurance Read More
Securities and Exchange Commission enforcement director Robert Khuzami today said that his agency has made great improvements since allegedly screwing the pooch when investigating suspected Ponzi schemer Allen Stanford.
Khuzami said that his agency is “also vigorously pursuing its case against Stanford and the others charged in this massive Ponzi scheme.” He pointed to Read More
In a hearing before the Senate Banking Committee today, Securities and Exchange Commission Inspector General David Kotz gave lawmakers an earful about the SEC’s handling of the alleged $7 billion Ponzi scheme run by Allen Stanford.
According to Kotz’s report, which was released in April, the Fort Worth office of the SEC examined Stanford four Read More
