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Ponzi Scheme

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$770M ATM Ponzi: PA’s Daryl Heller Charged After Filing Bankruptcy In NJ $770M ATM Ponzi: PA’s Daryl Heller Charged After Filing Bankruptcy In NJ
$770M ATM Ponzi: PA’s Daryl Heller Charged After Filing Bankruptcy In NJ A $770 million Ponzi scheme that allegedly preyed on Amish and Mennonite investors in Lancaster County has landed a Pennsylvania businessman in federal court, prosecutors announced on Wednesday, Sept. 3, 2025. Daryl F. Heller, 55, of Lititz, and his Lancaster-based companies Prestige Investment Group and Paramount Management Group, are accused of raising more than $770 million from about 2,700 investors between 2017 and 2024, according to the Securities and Exchange Commission. Federal investigators allege Heller promised fixed monthly payments from a nationwide ATM network operated by Para…

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by Jillian Pikora
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Wife Of Notorious NJ House Flipper Indicted After Smashing Phone In Husband's Federal Case Wife Of Notorious NJ House Flipper Indicted After Smashing Phone In Husband's Federal Case
Wife Of Notorious NJ House Flipper Indicted After Smashing Phone In Husband's Federal Case A New Jersey woman has been indicted in a federal case tied to her husband, a notorious house flipper, after she destroyed her cell phone as law enforcement tried to seize it during a fraud investigation, officials announced. Jennifer Iturralde Pina, 43, of Franklin Lakes, was indicted on a charge of destruction of records in a federal investigation, U.S. Attorney Alina Habba announced Thursday, July 3. The case stems from a federal investigation involving her husband, Cesar Humberto Pina, 45 — a real estate influencer better known as “Flipping NJ.” Pina gained national attention through r…

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by Cecilia Levine
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
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
Police & Fire
Disbarred NJ Attorney Admits To Ponzi Scheme That Cost Investors $1 Million: Feds Disbarred NJ Attorney Admits To Ponzi Scheme That Cost Investors $1 Million: Feds
Disbarred NJ Attorney Admits To Ponzi Scheme That Cost Investors $1 Million: Feds A 61-year-old Hillsborough resident pleaded guilty on Wednesday, Oct. 9 to running a Ponzi-like wire fraud scheme that caused losses of more than $1 million, authorities said. Lawrence Coven, who had previously been disbarred as an attorney, operated and controlled Sunrise Enterprises LLC, which purported to provide financial services to investors, US Attorney Philip Sellinger said.  In reality, Coven induced investors into sending him funds by falsely representing that he would invest their money through Sunrise in exchange for large profits by providing short-term loans to borrowers …

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by Sam Barron