Ponzi Scheme
North America | 28 Mar 17
US regulator shuts down scam targeting elderly investors
The US Securities and Exchange Commission (SEC) implemented an emergency asset freeze and temporary restraining order against an investment adviser and his financial management company accused of scamming elderly investors out of millions.
Hong Kong regulator freezes accounts in US Ponzi scheme
Hong Kong’s Securities and Futures Commission (SFC) has obtained an interim court order to freeze bank accounts connected with a suspected $15m (£12.1m, €13.9m) US Ponzi scheme that invested in Brazilian and African gold mines.
Former Westpac banker jailed for property Ponzi scam
A former Westpac banker in Australia has been sent to jail for three years for encouraging elderly and vulnerable customers to borrow over A$2.5m (£1.5m, $1.9m) to invest in a Tasmanian property development, which turned out to be a Ponzi scheme.
North America | 7 Feb 17
Billionaires caught up in ‘Hamilton’ Ponzi scheme
A billionaire asset management company founder, a billionaire investor, and an executive at an alternative asset management firm all invested in a Ponzi scheme promising high returns by buying and selling tickets to high-demand shows, including Broadway smash musical Hamilton.
North America | 30 Jan 17
Two charged in $81m ‘Hamilton’ musical Ponzi scheme
The US Securities and Exchange Commission (SEC) has charged two New Yorkers with raising more than $81m (£64.5m, €75.7m) through a Ponzi scheme that promised high returns by buying and selling tickets to see high-demand shows, such as Broadway musical Hamilton.