Ponzi Scheme

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Fraud Alert – Pinupito Inc. Running $8 Million Ponzi Scheme

The chairman of an ‘Irvine investment’ firm and his girlfriend were arrested this morning on federal wire fraud charges that accuse them of running a Ponzi scheme that collected $8 million from approximately 60 Korean-American victims who lived throughout California. Euirang Hwang, 36, and Sang Yi, 39, were arrested without incident at a house in [...]

Ponzi Scheme

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Fraud Report – Strategic Capital Management ponzi scheme

Millington businessman James Brinley pled guilty in federal district court Monday to embezzling about $3.5 million from clients over a 10 year period starting in 1999. United States Attorney for the Western District of Tennessee Lawrence J. Laurenzi said Brinley was charged with wire fraud violation and could face up to 5 years in federal [...]

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