FraudBaron.com

Rapper Willie D guilty in Houston to wire fraud

chron.com | 12/21/09 | $120,000 | suspect:  Willie D

Former Geto Boys rapper Willie D pleaded guilty in Houston to wire fraud over the bogus sale of iPhones and other electronics.

Stanford Trial Wont Start Until Jan 2011

bizjournals.com | 12/21/09 | suspect:  R. Allen Stanford

R. Allen Stanford’s day in Houston federal court will take place in a little more than a year, according to news reports. U.S. District Judge David Hittner has decreed that Stanford’s trial on charges that he led a $7 billion fraud scheme would begin in January 2011, according to news reports.

Eagle Development CEO Charged in Investment Fraud

courthousenews.com | 12/17/09 | $28 million | suspect:  Micael Bowen

The CEO of Eagle Development Enterprises took more than $28 million from 500 investors for unregistered stock and membership interests, and used some of the money to go on paid tropical vacations, buy fancy cars and make a $45,000 contribution to the National Republican Congress, the SEC says in Federal Court.  

Petters Convicted in Ponzi Scheme

detroit.fbi.gov | 12/7/09 | suspect: Tom Petters

 Tom Petters, 53, of Wayzata, Minn., was convicted of orchestrating a $3.65 billion Ponzi scheme.  Petters, who was originally indicted in December 2008, was found guilty of 10 counts of wire fraud, three counts of mail fraud, one count of conspiracy to commit mail and wire fraud, one count of conspiracy to commit money laundering and five counts of money laundering.

More News from the Petters Trial

reuters.com | 11/23/09 |

Minnesota businessman Tom Petters made a final push on Friday to convince a federal jury he was not responsible for a $3.65 billion Ponzi scheme that bankrupted his company.

Man Pleads Guilty in Racetrack ATM Investment Scheme

sandiego.fbi.gov | 11/20/09 | $25 million | suspect:  Richard M. Hersch

Richard M. Hersch pled guilty to Mail Fraud and Conspiracy to Structure Financial Transactions in U.S. District Court in San Diego. Hersch admitted that he operated an investment scheme in which he recruited investors by promising returns of two-to-six percent per week on investments into his company, All States ATM, Inc.

Petters Cross Examined in Fraud Trial

reuters.com | 11/20/09 | suspect:  Tom Petters

Federal prosecutors on Thursday confronted Tom Petters over his claim that after he belatedly became aware of the fraud that bankrupted his company, he tried to repair the damage.

Petters Tells Fraud Trial Jury He ‘Ran too Fast’ With Business

bloomberg.com | 11/18/09 | suspect:  Tom Petters

Petters Group Worldwide LLC founder Tom Petters, charged with being the mastermind of a $3.5 billion Ponzi scheme, began testifying in his own defense at a federal fraud trial in St. Paul, Minnesota.

Madoff Personal Assets Auctioned

ap.google.com | 11/16/o9 |  suspect:  Bernard Madoff

Bernard and Ruth Madoff's belongings fetched several times their estimated values at auction Saturday for a total of about $1 million, twice as much as the auctioneers had hoped for.

Two Businessmen Testify in Petters Trial

bizjournals.com | 11/16/09 | suspect:  Tom Petters

Twin Cities financier Irwin Jacobs, testifying Friday in the Tom Petters fraud trial in U.S. District Court in St. Paul, said that Petters had approached him about supplying falsified invoices that overvalued goods Petters was buying.