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Barrie, Ont., man sentenced for masterminding landmark Ponzi scheme

Barrie, Ont., man sentenced for masterminding landmark Ponzi scheme

by Admin | Jun 29, 2022 | Breaking Court Decisions, Breaking News, Featured, Ponzi

The mastermind of an elaborate Ponzi scheme that cheated hundreds of people of tens of millions of dollars was sentenced Tuesday in a Barrie, Ont., courtroom to seven years in jail. Charles Debono has been behind bars since his arrest in 2020 for his role in one of...
Toronto businessman accused of $12M pandemic Ponzi scheme found and charged with fraud

Toronto businessman accused of $12M pandemic Ponzi scheme found and charged with fraud

by staff | Apr 8, 2022 | Breaking News, Featured, Financial Fraud, Investment Fraud, Ponzi

A Toronto businessman accused of orchestrating a $12-million pandemic-related Ponzi scheme was arrested and charged with fraud by Toronto police on Monday, just hours after investigators discovered his location, CBC News has learned.  Mark E. Cohen’s...
Bernie Madoff’s sister and her husband found dead in apparent murder-suicide

Bernie Madoff’s sister and her husband found dead in apparent murder-suicide

by Tosha Hancott | Feb 22, 2022 | Breaking News, Featured, Ponzi, Ponzi Scheme

The sister of Bernie Madoff, the infamous Ponzi schemer who died in prison last year, and her husband were found dead in their Florida home Thursday. Police say the cause of their death seems to be an apparent murder-suicide. On Sunday, The Palm Beach County Sheriff’s...
Five B.C. residents allegedly involved in US$15 million pyramid Ponzi scheme

Five B.C. residents allegedly involved in US$15 million pyramid Ponzi scheme

by Admin | May 28, 2020 | Consumer Fraud, Featured, Financial Fraud, International Fraud, Investment Fraud, Ponzi, Securities Fraud

Vancouver (May 28, 2020) – The British Columbia Securities Commission (BCSC) accused five B.C. residents of helping to promote a U.S. based Ponzi and pyramid scheme in connection with fake gold mining operations. Monita Hung Mui Chan, Sabrina Ling Huei Wei, Justin...
‘Incorrigible’ fraudsman sentenced to 12 years in prison for Ponzi scheme

‘Incorrigible’ fraudsman sentenced to 12 years in prison for Ponzi scheme

by Admin | Apr 16, 2020 | Featured, Financial Fraud, Investment Fraud, Ponzi

Toronto (April 16, 2020) – In this week’s court case we look at the sentencing of serial fraudster David Holden by Ontario Superior Court Justice Michael Dambrot on February 7 of this year. Justice Dambrot sentenced Holden to 12 years in prison and ordered him...
Two men arrested in Toronto for alleged Ponzi scheme that took in nearly $1 million

Two men arrested in Toronto for alleged Ponzi scheme that took in nearly $1 million

by Admin | Jul 19, 2019 | Featured, Financial Fraud, Investment Fraud, Ponzi, Ponzi Scheme

Toronto (July 19, 2019) – Toronto Police service arrested John James Illidge, 66, on July 12, and Vincent Philips, 74, on July 16 jointly for 18 charges containing fraud, theft, and launder proceeds of crime. In January 2018, the Ponzi scheme fraud investigation...
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