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Madoff victims protesting in NY City
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youtube.com

"....her parents’ mental and physical decline accelerated after an assistant manager at a local bank, Susan Paiz, befriended the octogenarians and subsequently stole $100,000 from them in 2014."

Marjorie Jones trusted the man who called to tell her she’d won a sweepstakes prize, saying she could collect the winnings once she paid the taxes and fees.
msn.com
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"... stole more than $4.2 million from 26 clients, some of whom considered the financial adviser to be a close personal friend"

Over the course of eight years, William Bischoff stole more than $4.2 million from 26 clients, some of whom considered the financial adviser to be a close personal friend.. Maine news, sports, politics, election results, and obituaries from the Bangor Daily News.
bangordailynews.com

"The SEC's complaint alleges that, from 2010 to 2017, Clifton E. Stanley ran a Ponzi scheme through his retirement planning and real estate investment business"

Press Release SEC Charges Texas Company, Principals in Multimillion Dollar Ponzi Scheme Targeting Seniors FOR IMMEDIATE RELEASE 2018-63 Washington D.C., April 9, 2018 — On April 6, 2018, the Securities and Exchange Commission charged two Texas companies and their principals in a $2.4 million Ponzi...
sec.gov

"Settlement terms have not been finalized but Mulvaney is pushing for a figure as high as $1 billion, said three people with knowledge of the discussions." 1 BILLION IN PENALTIES!!! Such an amount would have enabled SIPIC to take care of the remaining 2500 direct Madoff customers, and then some! SIPIC is still underfunded and Congress should wake up before another scam destroys lives.

The top U.S. watchdog for consumer finance is seeking a record fine against Wells Fargo & Co that could exceed several hundred million dollars for auto insurance and mortgage lending abuses, according to three sources with knowledge of the plans.
reuters.com

Published 11:09 AM ET Fri, 23 March 2018 Updated 11:55 AM ET Fri, 23 March 2018
CNBC.com
SIPC member!!!! They always have millions to pay in penalties, but never enough to contribute to the SIPC fund, which is supposed to protect investors. For that reason 2500 Madoff direct customers have been driven to poverty b/c “poor” Wall Street firms could not be bothered to contribute enough to the SIPC fund. Only AFTER the Madoff ponzi disaster, did SIPC ask members to contribute more. Obvious admission of guilt by SIPC. The SIPIC administrators should have gone to jail with Madoff.
"The bank admits to undisclosed agreements with Citadel Securities, Knight Capital, D.E. Shaw, Two Sigma Securities and Madoff Securities to handle the trades instead."

The "masking" strategy was applied to 16 million client trade orders between 2008 and 2013.
cnbc.com

But some 2500 direct customers of Madoff STILL have not received a penny, b/c SIPC lacked the money in its insurance fund. They, SIPC, WERE UNDERFUNDED. They were always protecting Wall Street, not the investors.
"The total amount involved in the Madoff affair is now thought to be in the range of $25-30bn, not including lost returns..."

Almost a decade after the Ponzi scheme collapsed, trustees are still returning money to the victims
economist.com

Maybe they should send the SEC to "investigate", and the SIPC to "help out" since it worked out so well for Madoff victims who are still waiting for SIPC to address thousands of victims who have seen not one penny in restitution.

BitConnect isn’t letting this week’s closure of its cryptocurrency exchange and lending operations deter it from attempting to raise funds though another digital token offering.
bloomberg.com

He just walked out! Great security!
"Berg was sentenced in 2012 to nearly two decades behind bars for bamboozling his clients – many of whom were senior citizens – out of their life savings to fund a Ponzi scheme Berg was using to support his high-flying life."

The U.S. Marshals Service tightened its dragnet Friday for a con man dubbed “Seattle’s mini Madoff” after the 55-year-old escaped a federal prison where he was serving an 18-year sentence.
foxnews.com

The ex SEC Inspector General David Kotz, the infamous SEC that was not able to protect Madoff or Stanford victims, tells us how to protect ourselves?

Buy Why Ponzi Schemes Work and How to Protect Yourself from Being Defrauded at Legal Solutions from Thomson Reuters. Get free shipping on law books.
legalsolutions.thomsonreuters.com

"A former Tennessee lawmaker who led a multimillion dollar Ponzi scheme promoted on Christian media and centered on buying and selling gold and silver coins has been sentenced to more than 21 years behind bars" $87 million!

A former Tennessee lawmaker who led a multimillion dollar Ponzi scheme promoted on Christian media and centered on buying and selling gold and silver coins has been sentenced to more than 21 years behind bars.
wreg.com

"...weeks after her husband died, Baratoff secured over a million dollars of Nichols' money and told her "he was going to invest it in a safe way."

Don’t let someone else live the life you’ve been saving for. Find out if you’re dealing with a registered investment professional at Investor.gov. It’s a gre...
youtube.com

"The SEC's complaint, filed in federal court in Atlanta on October 5, 2017, alleges that Celello who, along with Canton, Ga.-resident James A. Torchia, was a partner in Credit Nation Capital LLC and served as general counsel for the underlying entities, helped orchestrate a Ponzi scheme involving unregistered promissory notes which falsely promised a 9% return."

The Securities and Exchange Commission today announced that it filed fraud charges against an attorney Marc A. Celello based on his alleged participation in a Ponzi scheme.
sec.gov
Fast Answers Ponzi Schemes Oct. 9, 2013 What is a Ponzi scheme?Why do Ponzi schemes collapse?How did Ponzi schemes get their name?What are some Ponzi scheme "red flags"?What steps can I take to avoid Ponzi schemes and other investment frauds?What are some of the similarities and differences between…
sec.gov

"According to the SEC, Celello was instrumental in soliciting investors who eventually paid in more than $30 million for Torchia’s business concerns. Torchia told investors that auto loan payments would be used to pay premiums on purchased life insurance policies and those life insurance settlements would generate interest income and long-term capital gains in excess of the interest rates payable on the promissory notes."

The Securities and Exchange Commission on Thursday sued Roswell attorney Marc A. Celello, claiming he knowingly participated in a massive Ponzi scheme while ...
dailyreportonline.com
A suburban New York hedge fund manager accused of losing or spending all but about $27,000 of the $21.8 million he told investors he had was criminally charged on Thursday with running a Ponzi scheme.
reuters.com