Posts Tagged ‘Ponzi scheme’

Ponzi Scheme: 02-05-09 Chuck Hays, Crossfire Trading

Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) filed an enforcement action today against Charles “Chuck” E. Hays and Crossfire Trading, LLC (Crossfire), both of Rosemount, Minnesota, charging them with fraud and misappropriation in connection with a commodity pool Ponzi scheme. In conjunction with the filing of the complaint today in the U.S. […]

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Cosmo Surrenders, Faces Mail-Fraud Charge in Alleged Scheme

Jan. 27 — Agape World Inc. in Hauppauge, New York, was arrested and charged with one count of mail fraud in an alleged $380 million Ponzi scheme. Cosmo surrendered at the Long Island Railroad train station in Hicksville, New York. He is suspected of defrauding thousands of investors through his firm, which purports to provide […]

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Ponzi Scheme Targeted Catholics

AP Buffalo: The U.S Postal Inspection Service is taking information from people who believe they are victims of a nationwide Ponzi scheme allegedly masterminded by a Buffalo area man. Richard Piccoli, 82, appeared in federal court on a criminal complaint charging him with mail fraud. Federal investigators say he got most of his clients for […]

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Accused investor worked to gain the trust of fellow Catholics

Richard Piccoli’s clients included 50 priests, churches, religious orders and cemetery associations. Used Catholic priests as references to get clients for alleged Ponzi scheme Richard S. Piccoli had a gift of gab and a message few could refuse. At a time when people watched their retirement funds evaporating by the month, Piccoli’s mortgage company guaranteed […]

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