Archives For Investment Scams

Bryan Binkholder, 43, Wentzville, Missouri, was sentenced to 108 months in prison on multiple fraud charges involving his financial planning and investment strategy businesses. In addition to the prison sentence, he was also ordered to pay $3,655,980 restitution to the victims.

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David Williams, 54, Studio City, California, a licensed securities dealer and investment adviser, as well as the former president and CEO of Sherman Oaks, California-based Morgan Peabody, Inc. brokerage and investment firm has pleaded guilty to federal wire fraud charges stemming from a real estate investment scam that resulted in about five dozen investors losing nearly $4 million.

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Jeffery Allen Gardner, 61, Hopkins, Minnesota, and Stuart Alan Voigt, 66, Apple Valley, Minnesota, have been indicted and charged with conspiring to defraud individuals and financial institutions, bank fraud and making a false statement in a loan application.

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Brenda Ashcraft, 45, Milford, Ohio, pleaded guilty in U.S. District Court to defrauding investors of at least $15 million between 2009 and 2013 in a fraudulent investment scheme to purchase and sell real estate through real estate investment trusts (REITs).

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Gregg E. Steinnagel, 54, Chicago, Illinois, was sentenced to 48 months in prison by U.S. District Court Judge John Z. Lee for scamming people whom he had persuaded to invest in a bogus lending program involving short-term, high-interest loans to distressed homeowners.

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Ivan Levy, 54, Boynton Beach, Florida, has been arrested for his alleged involvement in an advance fee loan scheme. Levy was charged with nine counts of collecting advanced fees as a loan broker, six counts of grand theft and three counts of petit theft.

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Sam Stafford, 59, formerly a resident of Campbell, California, now living in Temecula, California, a founder of the S3 Partners, was sentenced March 17, 2015 to 36 months on investment fraud charges. Continue Reading…

Joyce Esther De Armero, 37, San Jose, California, was sentenced to twelve months and one day in prison and ordered to pay restitution for her role in a real estate investment fraud scheme.

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Andre Lamont Chenier, 41, Houston, Texas, has been arrested on allegations he engaged in an eight-year bank fraud, identity theft and money laundering scheme. Chenier allegedly submitted a personal financial statement that listed fictitious assets as well as tax returns that contained the Social Security number of someone else.

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Richard Demaria, 45, Glenview, Illinois, a former managing director of Panorama Global Partners, LLC, a company that falsely purported to trade in certain financial instruments, was sentenced to 40 months in federal prison for fraudulently obtaining approximately $4.2 million in investor funds and for misappropriating approximately $3.9 million of those funds.

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