The verdict in the Daniel Reeve fraud and theft trial will be delivered early this…
Ontarian sentenced for Dominican resort Ponzi scheme
San Francisco (November 28, 2019) – A Northern California court sentenced Derek Elliott from Ontario to two years in prison. In September 2012, the Canadian was charged with conspiracy to commit fraud for his role in a Dominican resort Ponzi scheme. Elliott and his...
Maryland man sentenced for using Ponzi scheme worth over US$396 million
Baltimore (October 16, 2019) – Kevin B. Merrill from Maryland was sentenced to 22 years in federal prison for conspiracy and fraud conducting a Ponzi scheme worth over US$396 million. Together with his co-conspirators, he defrauded investors using his companies...
Multi-million Ponzi scammer convicted to nine years in jail
Toronto (September 18, 2019) – The Ponzi scammer Steven Joshua Nowack who posed as a highly successful foreign exchange trader has been convicted to nine years in jail on Tuesday. A jury found him guilty on 12 counts of fraud over $5,000. He defrauded his victims out...
Plus Token might be the third-largest crypto Ponzi scam in history
(August 23, 2019) – The Plus Token cryptocurrency app has allegedly defrauded customers out of more than US$3 billion using a Ponzi Scam, Cryptoslate reports. If the losses are confirmed, the scheme might be the third largest Crypto Ponzi Scam in history. Plus Token,...
Former Waterloo Region financial adviser and convicted fraudster back behind bars for at least another year
Kitchener (August 19, 2019) – Former Waterloo Region financial adviser, Daniel P. Reeve who is convicted of fraud is back behind bars for at least another year after the Parole Board of Canada revoked his day parole earlier this month. Reeve was arrested in May 2019,...