University of Miami Donor Charged with Fraud

Federal prosecutors in New Jersey have charged a Miami Beach business man with operating a $900 million investment fraud. Prosecutors allege that Nevin Shapiro operated a Ponzi scheme that bilked his friends and acquaintances. The complaint alleges that Shapiro obtained investments for his company, Capitol Investments, USA. Prosecutors contend that Shapiro told prospective investors that […]

Ponzi Schemers Usually Target Closest

Many if not most of the Ponzi schemes that have recently come to light appear to have targeted individuals or groups close to the scheme perpetrators. Even Bernard Madoff targeted wealthy individuals and philanthropists with whom he was well acquainted. In particular, smaller Ponzi schemes most often target individuals whom the schemer knows or who […]

SEC Charges San Diego Area Man with Affinity Fraud

The Securities and Exchange Commission has brought fraud charges in federal court against a Somali run financial services firm accusing it of targeting local Somalis in a securities fraud scheme. The Commission charged Mohamud Abdi Ahmed and his company, Shidaal Express, Inc., with defrauding investors of over $3,000,000. The SEC complaint alleges that Ahmed marketed […]