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Feds: Ponzi Schemer Funded House, Car, More With $6.8M From Investors In NJ, Elsewhere
New Jersey residents were among more than two dozen victims who lost a combined $6.8 million to a North Carolina con man running a Ponzi scheme, federal authorities charged.
David Schamens, 64, of Greensboro, NC, promised annual return rates of 12% to 30% when he began soliciting investments in 2014 in Secaucus-based TradeStream Analytics LTD, as well as in other entities with names such as TD Trading LLC, TFG Trading LLC, and Tradedesk Financial Group Inc., U.S. Attorney Philip R. Sellinger said.
He then launched Tradestream Algo Fund, an algorithm-based trading pool that he clai…
'Live Your Dreams' Motocross Mentor Accused Of Raping Children Across 11 States
A man arrested for rape and kidnapping in Tennessee is thought to have raped children in 10 other states, according to the Hamilton County district attorney's office and Homeland Security.
Ryan Andrew Meyung, 30, of Ringgold, Tennessee, was on three counts of child rape, two counts of aggravated kidnapping and other related charges on Saturday, Dec. 18, as first reported by the Chattanoogan.
During the investigation, local police partnered with the federal law enforcement agency Homeland Security Investigations and learned Meyung may have more victims in other states, including Georg…
NJ Ring That Dealt Fentanyl, Crack Smashed By Federal, County, Local Crime-Fighting Team
Eleven accused members of a drug ring that authorities said openly peddled crack and potentially fatal fentanyl in a Newark neighborhood were charged federally on Wednesday.
The ring's "primary supplier," Frazier Burton, 46, was caught with 100 bricks of heroin and fentanyl when tactical officers arrested him Wednesday morning, Acting U.S. Attorney Rachael A. Honig said.
At 50 bags per brick, that's 5,000 individual packages -- all of which Honig said carried the neighborhood drug network's particular stamps.
The case took several months for an ad hoc team of local, county and federal inve…
