Archives For Investment Scams

Andrew Daniel, 48, Brentwood, New York, has been arrested for allegedly posing as a real estate agent in a scheme that defrauded an investor of nearly $200,000 in down payments for numerous properties.

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Lawrence Foster, 49, Miami Beach, Florida, the President of Paradise is Mine, was found guilty by a federal jury of conspiring to commit wire fraud and seven counts of wire fraud, and Johana Leon, 38, Miami Beach, a corporate officer of Paradise is Mine, was found guilty of three counts of structuring currency transactions, for their roles in soliciting funds from investors promising that Paradise is Mine owned land and would use investor funds to develop the island of Rum Cay in the Bahamas, but instead used the money for personal use.

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Patrick J. Belzner, a/k/a Patrick McCloskey, 45, Selbyville, Delaware, was sentenced by U.S. District Judge J. Frederick Motz to 15 years in prison followed, by three years of supervised release, on charges of wire fraud conspiracy, wire fraud and tax evasion for his role in a scheme to rip off investors by promising to secure large loans in exchange for substantial sums deposited in an escrow bank account.

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Marie Mikesche Bontigao, 43, West Chester, Pennsylvania, was charged by indictment for her alleged role in a fraud scheme wherein she solicited individuals to invest in her real estate projects but, instead of investing the lenders’ money in real estate, the funds were used to operate her business and pay personal expenses

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Barry J. Graham, 59, Ft. Lauderdale, was charged by superseding information with conspiracy to commit bank fraud, in violation of Title 18 United States Code, Section 371, in connection with a $300 million Ponzi scheme involving the sale of vacation rental units to approximately 1,400 investors in the Florida Keys and elsewhere. Continue Reading…

Steven Russell Hart, 55, Madill, Oklahoma, was sentenced to serve 33 months in prison for defrauding an investor of more than $700,000 to pay for construction that never took place, including five houses that did not exist.

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Jose Christian Delgado, 39, Las Vegas, Nevada, was arrested in connection with his involvement in a mortgage lending fraud scheme involving five known victims.

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Ronnie Singleton, 41, Lithonia, Georgia, a business owner who held himself out to be an investor and loan broker was sentenced to 27 months in prison for his role in defrauding investors of more than $800,000.

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Kenneth J. Enrico, 47, Bohemia, New York, has been sentenced to 12 years in prison for posing as a mortgage broker to defraud over 300 borrowers nationwide out of $1.2 million in application fees for loans that he could not close.

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Michael John Mangan, 43, owner of multiple Minnesota-based businesses, has been indicted and charged with four counts of wire fraud and three counts of mail fraud for allegedly stealing over $1 million of real estate investment funds and loans.

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