From the presidents of smaller companies to a person who claimed to have a $500,000,000 Fed note, 15 suspected finance scammers lately have been caught for a variety of white-collar crimes, South Florida Fed authorities expounded Monday. That man wants an investment fraud lawyers to give him kind of guidance.
The arrests come as part of an effort to root out instruments and investment fraud in South Florida, long a focus for scammers wanting to make a few dollars. The area ranks second in the nation for such crime inquiries and prosecutions, behind the New York area.
Federal authorities have arrested 85 people since the December 2010 launch of the Stocks and Investment Fraud Initiative, with over $1.5 bill in restitution orders leveled against the accused, said U.S. Solicitor Wifredo Ferrer at a press conference.
"Too often , we hear from victims who have lost their complete lives ' savings or their retirement nest egg to one of those sneaky schemers," Ferrer related.
The arrests come as part of an effort to root out instruments and investment fraud in South Florida, long a focus for scammers wanting to make a few dollars. The area ranks second in the nation for such crime inquiries and prosecutions, behind the New York area.
Federal authorities have arrested 85 people since the December 2010 launch of the Stocks and Investment Fraud Initiative, with over $1.5 bill in restitution orders leveled against the accused, said U.S. Solicitor Wifredo Ferrer at a press conference.
"Too often , we hear from victims who have lost their complete lives ' savings or their retirement nest egg to one of those sneaky schemers," Ferrer related.
The bulk of those arrested got caught up in clandestine FBI stings based in Broward County into the alleged manipulation of penny shares. The heads of 8 little corporations are charged with either offering illegal kickbacks or trying to artificially inflate their businesses ' stock so they could unload it at a good profit commonly known as a "pump and dump" scheme.
"The crime from these stock exchange manipulation schemes might have deceived numerous innocent investors out of millions of dollars," said John Gillies, special agent in charge of the FBI's Miami office.
Among the local company presidents charged were: Ryan Coblin, 42, of Delivery Technology Solutions; Douglas Hague, 65, of Clean Coal Technologies and Scott Haire, 42, of Wound Management Technologies. Coblin, of Boca Raton, has pleaded guilty to a mail crime charge and is set to be sentenced the month after next.
The U.S. Securities and Exchange Commission filed civil actions against the small enterprise presidents that would ban them from being involved with penny stocks and shares in the future.
Eric Bustillo, director of the SEC's Miami office, asserted federal authorities are striving to stamp out the manipulation of penny stocks and shares. Such fraud regularly affects little stockholders the most, he revealed.
Ferrer also disclosed the Monday arrest of Aner Menendez, who did business as De Forcade, a Key Biscyane investment firm. Menendez claimed to be a skilled foreign currencies trader, but was really spending his victims ' cash on individually. Court records indicate he took in at least $900,000 from backers.
Among Menendez's speculators was the parent of a child on a youth sports team he coached, Ferrer said.
Additionally, Fed. authorities arrested Cleland Ayison, 32, on Mon
"The crime from these stock exchange manipulation schemes might have deceived numerous innocent investors out of millions of dollars," said John Gillies, special agent in charge of the FBI's Miami office.
Among the local company presidents charged were: Ryan Coblin, 42, of Delivery Technology Solutions; Douglas Hague, 65, of Clean Coal Technologies and Scott Haire, 42, of Wound Management Technologies. Coblin, of Boca Raton, has pleaded guilty to a mail crime charge and is set to be sentenced the month after next.
The U.S. Securities and Exchange Commission filed civil actions against the small enterprise presidents that would ban them from being involved with penny stocks and shares in the future.
Eric Bustillo, director of the SEC's Miami office, asserted federal authorities are striving to stamp out the manipulation of penny stocks and shares. Such fraud regularly affects little stockholders the most, he revealed.
Ferrer also disclosed the Monday arrest of Aner Menendez, who did business as De Forcade, a Key Biscyane investment firm. Menendez claimed to be a skilled foreign currencies trader, but was really spending his victims ' cash on individually. Court records indicate he took in at least $900,000 from backers.
Among Menendez's speculators was the parent of a child on a youth sports team he coached, Ferrer said.
Additionally, Fed. authorities arrested Cleland Ayison, 32, on Mon
Among the local company presidents charged were: Ryan Coblin, 42, of Delivery Technology Solutions; Douglas Hague, 65, of Clean Coal Technologies and Scott Haire, 42, of Wound Management Technologies. Coblin, of Boca Raton, has pleaded guilty to a mail crime charge and is set to be sentenced the month after next.
The U.S. Securities and Exchange Commission filed civil actions against the small enterprise presidents that would ban them from being involved with penny stocks and shares in the future.
Eric Bustillo, director of the SEC's Miami office, asserted federal authorities are striving to stamp out the manipulation of penny stocks and shares. Such fraud regularly affects little stockholders the most, he revealed.
Ferrer also disclosed the Monday arrest of Aner Menendez, who did business as De Forcade, a Key Biscyane investment firm. Menendez claimed to be a skilled foreign currencies trader, but was really spending his victims ' cash on individually. Court records indicate he took in at least $900,000 from backers.
Among Menendez's speculators was the parent of a child on a youth sports team he coached, Ferrer said.
Additionally, Fed. authorities arrested Cleland Ayison, 32, on Monday with Fed. prosecutors accusing the Tampa man of possessing a fake half-billion greenback Fed Reserve note.
Ferrer announced that when referring to investing, people must be alert and determine who they are coping with before trusting them with their money.
About the Author:
The U.S. Securities and Exchange Commission filed civil actions against the small enterprise presidents that would ban them from being involved with penny stocks and shares in the future.
Eric Bustillo, director of the SEC's Miami office, asserted federal authorities are striving to stamp out the manipulation of penny stocks and shares. Such fraud regularly affects little stockholders the most, he revealed.
Ferrer also disclosed the Monday arrest of Aner Menendez, who did business as De Forcade, a Key Biscyane investment firm. Menendez claimed to be a skilled foreign currencies trader, but was really spending his victims ' cash on individually. Court records indicate he took in at least $900,000 from backers.
Among Menendez's speculators was the parent of a child on a youth sports team he coached, Ferrer said.
Additionally, Fed. authorities arrested Cleland Ayison, 32, on Monday with Fed. prosecutors accusing the Tampa man of possessing a fake half-billion greenback Fed Reserve note.
Ferrer announced that when referring to investing, people must be alert and determine who they are coping with before trusting them with their money.
About the Author:
The article above is all about ponzi schemes and investment fraud . The author is Jade Daye.