Archives For Investment Scams

Daniela Spiridon, 43, St. Charles, Missouri, was sentenced to 78 months in prison involving a real estate scheme related to the purchase and sale of REO properties. In addition to the prison sentence, she was also ordered to pay $2,499,988 restitution and a fine of $5,000.

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John Paul Donico, 65, Erie, Pennsylvania, is the subject of an eight-count indictment for his alleged role in fraudulently obtaining $350,000 from a construction company by promising to obtain financing, which he never obtained.

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Richard Hollern, 39, Grand Ledge, Michigan pled guilty before U.S. District Judge Robert Holmes Bell to a conspiracy to commit bank fraud in connection with his ownership in CDC Investments.

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Stanley M. Paulic, 41, Aurora, Ohio, and Steven R. Long, 45, Mather, California, were indicted on charges they defrauded approximately 60 people out of more than $6.5 million through a fraudulent Arizona real-estate development investment.

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Bonnie Lynn Recinos, aka Bonnie Farr, 54, Mesa, Arizona, pleaded guilty to conspiracy to commit mail and wire fraud for her role in soliciting investors in various real estate projects then misappropriating their funds for her personal use.

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James Monahan, 44, New York, New York, owner of real estate investment company Panam Management Group, Inc., and a former sergeant in the New York City Police Department, was sentenced to 58 months in prison for obtaining approximately $4.7 million from investors for a real estate development project he claimed to be constructing and then misappropriated those funds. The real estate project was never developed and investors lost all of their money.

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Jonathan Lee Oliver, 41, Missoula, Montana, was sentenced to 100 months in prison for diverting construction funds he received from investors in eastern Montana and North Dakota, and using the money for himself.
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David Pizio, 58, Jamesville, New York, entered a guilty plea in U.S. District Court to the felony offense of conspiracy to commit bank fraud. The defendant is facing a statutory maximum of 30 years imprisonment and a maximum fine of $1,000,000.00.

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Ronald L. Roberts, 54, Town and Country, Missouri, pled guilty to charges of mail and wire fraud in connection with his obtaining more than a million dollars from lenders in what he now admits was a loan fraud scheme.

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Eric Reilly, 34, Galloway, New Jersey, was sentenced to 36 months in prison and ordered to pay more than $3 million in restitution for conspiring to defraud owners of timeshare properties. The defendant would falsely state he was calling owners in response to a complaint they had made to timeshare developers and lenders.

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