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Commodities Fraud

Police & Fire
Feds Indict Former Midland Park Businessman In $350,000 Ponzi Scheme Feds Indict Former Midland Park Businessman In $350,000 Ponzi Scheme
Feds Indict Former Midland Park Businessman In $350,000 Ponzi Scheme A federal grand jury on Tuesday indicted a former Midland Park man accused of scamming at least 20 people by soliciting investments in a phony foreign currency Ponzi scheme. Thomas Lanzana, 51, used the money to buy things on Amazon.com, make payments to a luxury car dealer and jewelry retailer, and for golf expenses, the government charges. Lanzana, now of Pawleys Island, South Carolina, first solicited $1.1 million from at least 45 customers to invest in what he claimed were highly successful, algorithm-based trading pools in foreign currency derivatives (forex) and other financial instru…

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by Jerry DeMarco
News
Ex-Bergen County Man Charged In $900G Ponzi Scheme That Funded Amazon Purchases, Cars, Golf Ex-Bergen County Man Charged In $900G Ponzi Scheme That Funded Amazon Purchases, Cars, Golf
Ex-Bergen County Man Charged In $900G Ponzi Scheme That Funded Amazon Purchases, Cars, Golf A former Bergen County man was arrested in Kansas and charged with running a foreign currency Ponzi scheme in which he stole $900,000 from at least 20 investors to pay for a luxury car, jewelry and golf, U.S. Attorney Craig Carpenito announced. Thomas Lanzana, 51 formerly of Midland Park, was charged by complaint with one count each of wire fraud and commodities fraud, Carpenito said. He made an initial appearance Wednesday in federal court -- hours after his Park City, Kansas arrest. Lanzana -- who had been living in South Carolina -- in 2013 began convincing prospective clients to invest…

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by Cecilia Levine