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Category Archives: Ponzi Schemes

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Acquittals in Ponzi Prosecution Across the Pond: Jury Acquits Imperial Consolidated Execs Fraser and Brook

Posted in Ponzi Schemes

UK citizens Lincoln Julian Fraser and Jared Bentley Brook, former executives with the Imperial Consolidated Group (ICG) were acquitted today at the Old Bailey at the conclusion of a nearly nine month trial, according to the Guardian and the Telegraph. The jury acquitted Mr. Fraser and Mr. Brook of one count of conspiracy to defraud,… Continue Reading

Ponzi and Check Kiting Schemes by Georgia Mortgage Broker Cost Victims $23 Million

Posted in Fraud, Ponzi Schemes, Sentencing

According to a press release by the U.S. Attorney’s Office for the Northern District of Georgia, Edward William Farley, of Hoschton, Georgia, was sentenced to 25 years imprisonment today in the U.S. District Court for the Northern District of Georgia for causing more than $23 million in losses to mortgage lenders in a real estate investment… Continue Reading

Tom Petters, The “Minnesota Madoff,” Gets 50 Years Out of Potential 335 Years for $3.7 Billion Ponzi Scheme

Posted in Fraud, Ponzi Schemes, Sentencing

Former Minnesota billionaire and former owner of Polaroid and Sun Country Airlines Tom Petters was sentenced to 50 years imprisonment yesterday by the U.S. District Court for the District of Minnesota, according to the Associated Press. Petters, 52, was charged with a $3.7 billion Ponzi scheme–the largest in Minnesota history– which had over 500 victims and… Continue Reading