Ponzi Schemes

William Wise, Suspect in $129 MILLION DOLLAR MILLENNIUM BANK fraud surrenders, denies guilt

Posted by on April 27, 2012 at 11:39 pm

A Canadian man wanted in connection with the operation of a Ponzi scheme has surrendered to authorities in San Francisco and pleaded not guilty, U.S. Attorney’s Office spokesman Jack Gillund said.

William Wise, 62, along with Jacquline Hoegel, 55, of American Canyon, are accused of bilking investors out of more than $129.5 million, the U.S. Attorney’s Office said.

Hoegel was arrested in February and released on bond. Wise turned himself in Monday and pleaded not guilty Tuesday during his first court appearance. His next hearing is May 23, Gillund said.

Read more at the San Francisco Examiner: http://www.sfexaminer.com/blogs/law-and-disorder/2012/04/suspect-129m-fraud-surrenders-denies-guilt#ixzz1tBrbAQDh

The tell tale signs of a forex scam.

Posted by on August 13, 2011 at 8:26 pm

Forex HYIP programs – the tell tale signs of a forex scam.

High yield investment programs or HYIP is when the con artist and his affiliates defraud investors through promises of return on investment as high as 80 percent per day. These scams have been proliferating in the Western World since the legendary exploits of Mr. Charles Ponzi and his ilk. Usually, the blatantly unrealistic promises of income are reinforced by claims of exclusivity, limited admissions and some kind of secret formula that will allow unlimited profits to investors.