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Ponzi Scheme

Sports
Pickleball Company Owner Scammed Hundreds, Owes $47M In Debts: DOJ Pickleball Company Owner Scammed Hundreds, Owes $47M In Debts: DOJ
Pickleball Company Owner Scammed Hundreds, Owes $47M In Debts: DOJ A pickleball company owner accused of running a Ponzi-like scheme won't be able to walk away from more than $47 million in unpaid debts, authorities said. Rodney Grubbs agreed to waive his right to bankruptcy discharge, the Department of Justice announced on Wednesday, June 11. Grubbs was the owner of Indiana-based All About Pickleball LLC, also known as Pickleball Rocks. Creditors can continue to go after him for repayment, even after his bankruptcy case is closed. "The USTP is committed to addressing fraudulent and abusive conduct that threatens the integrity of the bankruptcy …

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by Chris Spiker
Police & Fire
Mass Couple Admits To $3.2M Ponzi Scheme That Took Locals' Life Savings: Feds Mass Couple Admits To $3.2M Ponzi Scheme That Took Locals' Life Savings: Feds
Mass Couple Admits To $3.2M Ponzi Scheme That Took Locals' Life Savings: Feds Dozens of people — including some who handed over their life savings — were defrauded out of more than $3 million by a Randolph couple who now admit to running a Ponzi scheme, according to federal officials. Milendophe Duperier, 33, and Vanessa Joseph, 26, have agreed to plead guilty to one count each of conspiracy to commit wire fraud, the US Attorney for Massachusetts said.  Court dates for their plea hearings have not yet been set. According to prosecutors, Duperier posed as an investment advisor, convincing locals to hand over money with the promise it would be used to buy securiti…

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by Josh Lanier
News
Seen Her? Woman Behind Alleged $4B Ponzi-Style Scheme Among FBI's Top 10 Most Wanted Seen Her? Woman Behind Alleged $4B Ponzi-Style Scheme Among FBI's Top 10 Most Wanted
Seen Her? Woman Behind Alleged $4B Ponzi-Style Scheme Among FBI's Top 10 Most Wanted She promised the next Bitcoin. What investors got instead was a $4 billion black hole—and a fugitive who hasn’t been seen since 2017. Ruja Ignatova, the woman once known as the “Cryptoqueen,” remains one of the world’s most elusive fugitives and is currently on the FBI’s 10 Most Wanted list.  The founder of the fraudulent cryptocurrency OneCoin, Ignatova is accused of orchestrating a massive Ponzi-style scheme that duped investors around the globe out of billions. Authorities say the scam began in 2014, when Ignatova launched OneCoin Ltd., a Bulgaria-based company that marketed itself…

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by Joe Lombardi
News
$4.3B Now Recovered For Madoff Ponzi Scheme Victims, DOJ Says $4.3B Now Recovered For Madoff Ponzi Scheme Victims, DOJ Says
$4.3B Now Recovered For Madoff Ponzi Scheme Victims, DOJ Says More than $4.3 billion has now been recovered for victims of Bernie Madoff’s massive and infamous Ponzi scheme, the Justice Department announced, as part of a decade-long effort that has compensated over 40,000 people worldwide for nearly 94 percent of their losses. The DOJ says  its 10th and final distribution from the Madoff Victim Fund (MVF), provided more than $131 million to over 23,000 victims. The latest distribution marks the culmination of a decade-long effort to recover and return forfeited funds tied to Madoff's fraudulent investment empire. Most victims, primarily small inv…

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by Joe Lombardi