Category: Scams
The analysis published under this category are as follows.
Thursday, January 19, 2012
JP Morgan Chase Accused of 'Brazen Bankruptcy Fraud' / Stock-Markets / Scams
By: Jesse
Maybe this was their warm up for the shenanigans in the MF Global bankruptcy case. Or their long term manipulation of the silver market.
If these allegations are true, why doesn't the California Attorney General or the Justice Department investigate this criminal conspiracy to abuse the legal system? (rhetorical question).
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Friday, December 09, 2011
Jon Corzine Dodges the Fraud Question / Politics / Scams
By: Janet_Tavakoli
It's as if Jon Corzine's PR machine is in top spin mode. You'll recall Jon Corzine is the former head of Goldman Sachs and former CEO of MF Global that appeared in front of Congress yesterday to answer questions about an estimated $600 million to $1.2 billion in missing money from the segregated accounts of customers of MF Global.
Yesterday and today, I heard confusion about whether or not MF Global's diverting customer funds was allowable and the possibility that customers will eventually get the money back.
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Wednesday, November 23, 2011
Gerald Celente Loses Six Figures in MF Global Bankruptcy, Investors Beware / Commodities / Scams
By: GoldSilver
Those of you who frequent the Gold Silver News, know and recognize Gerald Celente, the founder and publisher of The Trends Journal.
This past week Mr. Celente revealed that he has lost more than six figures of funds with Lind-Waldock, a commodities futures brokerage that was owned by MF Global (who filed for bankruptcy on October 31, 2011).
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Friday, July 15, 2011
My and Warren Buffetts Facebook Fraud, The Antisocial Network / Companies / Scams
By: Janet_Tavakoli
I don't use Facebook. Neither does Warren Buffett, but phonies have used his name on Facebook. Earlier this month, an imposter created "my" profile on Facebook. In order to get the fake removed, Facebook required an uploaded scan of a government issued I.D. that shows a photo and birthdate (for example, a driver's license or passport). Facebook suggests one black out the most sensitive information and claims it will delete this scanned information from its servers once identity has been verified.
Monday, February 28, 2011
American Monster, Excerpts from The Madoff Tapes / Stock-Markets / Scams
By: Jesse
Here are some brief excerpts from a story in New York Magazine called The Madoff Tapes. The story runs to nine pages, so consider this just a taste and read the whole thing when you have the time. I thought Steve Fishman did a terrific job of letting Bernie talk and of presenting his thoughts in a orderly manner without a lot of interpretation and editorial intrusion. He has real talent as an interviewer, and seems a natural reporter.
Monday, February 21, 2011
Madoff Talk Excuses From Crimes, Says Banks Didn’t Want to Know About His Ponzi Schemes / Politics / Scams
By: Danny_Schechter
Thank you Bernie for breaking your silence, even if you are still clinging to that cover-up mode you adopted since your guilty plea took all the blame for your crimes on yourself.
What is clear is that ripping off the rich is punished far more severely than ripping off the poor. The lengthy sentence you were given has spared who knows how many other greedsters and goniffs from facing the music, what music there is.
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Sunday, December 19, 2010
Madoff lawsuits charge JPMorgan and HSBC with complicity in Ponzi scheme / Companies / Scams
By: Global_Research
Andre Damon writes: Two years after the arrest of Bernard Madoff, ample evidence has emerged that a substantial number of major financial institutions profited from and knowingly facilitated his Ponzi scheme.
Irving H. Picard, the trustee for the investors who were defrauded by Madoff, filed a lawsuit against JPMorgan Chase on December 2 alleging that the bank knew that Madoff’s transactions were fraudulent but continued doing business with him.
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Saturday, October 30, 2010
Fraud Caused the 1930s Great Depression and Current Financial Crisis / Stock-Markets / Scams
By: Washingtons_Blog
Robert Shiller - one of the top housing experts in the United States - says that the mortgage fraud is a lot like the fraud which occurred during the Great Depression. As Fortune notes:
Shiller said the danger of foreclosuregate -- the scandal in which it has come to light that the biggest banks have routinely mishandled homeownership documents, putting the legality of foreclosures and related sales in doubt -- is a replay of the 1930s, when Americans lost faith that institutions such as business and government were dealing fairly.
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Wednesday, September 01, 2010
10 Financial Scams For Investors to be on Guard Against / InvestorEducation / Scams
By: Money_Morning
Larry D. Spears writes:When Peter Allen and Carole Bayer Sager wrote the tune "Everything Old Is New Again," they were probably hoping for no more than a Top 40 hit. Instead, the song became an oft-recorded classic, mostly because the title proved a truism in so many areas - especially in the seamy world of financial fraud.
Thursday, December 10, 2009
Go Go Hamster Buying Spree and Christmas Shopping Scams 2009, Emails Alert / ConsumerWatch / Scams
By: Nadeem_Walayat
With Christmas 15 days away shoppers need to be on guard against scammers taking advantage of the rush to buy, especially during the final week in the run up to Christmas.
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Friday, December 04, 2009
Investment Fraud after Investment Fraud, Another Ponzi Scheme Comes to Light / Stock-Markets / Scams
By: Andrew_Abraham
So many thought all the investment frauds would have ended already. However more and more have come to light. One investment fraud which shocked me was Scott Rothstein who I knew from college.
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Tuesday, October 20, 2009
Anatomy of the Billion Dollar Prime Bank Program Scam / Stock-Markets / Scams
By: Money_Morning
Shah Gilani writes: Two years ago, an associate of mine lost $100,000 because he didn’t listen to me. A year ago, I saved a manufacturing company from the same scam. And just last week I saved a friend of mine $300,000.
For several years now, a far-fetched but seemingly plausible investment opportunity has been wreaking havoc across the globe. In the United States alone, an estimated $10 billion has been lost in this particular gambit. The scheme is typically hidden behind such legitimate-sounding names as “Prime Bank Trading Programs,” “High-Yield Investment Programs,” or “Roll Programs.”
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Monday, July 27, 2009
Post Traumatic Stress Disorder PTSD Trauma Industry Scroungers / Politics / Scams
By: John_York
BBC1 Panorama programme later today at 8.30pm (UK), and available afterwards on BBC Iplayer investigates the great gold rush that is on in the British trauma industry that has exploded up in recent years to more than a £7 billion annual industry.
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Friday, July 03, 2009
Free Bernie Madoff / Politics / Scams
By: MISES
Jeffrey A. Tucker writes: Bernie Madoff stole billions from the customers of his phony investment funds, running a racket rather than a financial service. People who aren't even his victims are furious, and nearly everyone enjoyed a 10-minute sense of vengeance when the judge threw him behind bars for 150 years.
Friday, June 26, 2009
Bernie Madoff, Will Other Financial Criminals Be Investigated And Prosecuted? / Politics / Scams
By: Global_Research
Danny Schechter writes: “indeed “ adverb
1 used to emphasize a statement or response confirming something already suggested : it was not expected to last long, and indeed it took less than three weeks | “She should have no trouble hearing him.” “No indeed.”
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Saturday, June 06, 2009
Recession Pyramid Schemes Scam Warning / ConsumerWatch / Scams
By: Consumer_Direct
Government advice service Consumer Direct is urging people to avoid falling victim to pyramid schemes which are costing UK consumers an estimated £420 million a year.
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Saturday, June 06, 2009
Selling Your Car? Cold Calling Buyer Matching Scam Warning / ConsumerWatch / Scams
By: Consumer_Direct
Consumer Direct, the OFT-managed advice service, is warning consumers about vehicle matching scams which cost UK consumers nearly £3 million every year.
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Wednesday, April 22, 2009
Madoff Financial Scam Billions of Lost Dollars / Personal_Finance / Scams
By: Global_Research
Lawrence R. Velvel writes: I’m probably missing something, in fact I’m probably missing a lot, but as far as I know there has been little in the way of official release of certain crucial numbers related to the Madoff scam. The government has said that $65 billion was lost; I presume that $65 billion is the collective total shown on the November 30, 2008 statements, and it therefore is the number I shall use here for the total loss. It has been estimated at various times, if memory serves, that there were either 8,000 accounts or 13,000 accounts. But these would seem to be the number of accounts listed with Madoff, and, since a feeder fund was but one account, these numbers do not include any of the persons who invested through the feeder funds. It has also been estimated -- with what accuracy I have no idea -- that if you were to count all the people who invested through feeder funds, pension funds, etc., there are 50,000 people who lost money with Madoff.
Thursday, April 02, 2009
Madoff Ponzi Scheme Collapse in Perspective / Politics / Scams
By: Mike_Stathis
The Savings & Loan Crisis had Michael Milken. The dotcom charade had Bernie Ebbers, Kenneth Lay, and Jeffery Skilling. These men have been selected as the scapegoats to distract the public away from the real criminals that caused each crisis. And now, the world's largest real estate and banking crisis – much larger than all previous heists combined – has Bernie Madoff. He will serve the same purpose. Read full article... Read full article...
Thursday, March 19, 2009
Financial Scams Go Global, Here’s How to Avoid Being Stung / InvestorEducation / Scams
By: Money_Morning
Mike Caggeso writes: Madoff's guilty plea to a decades-long $50 billion-plus Ponzi scheme pretty much guarantees the 70-year-old will have his likeness immortalized on the Mt. Rushmore of scammers. Read full article... Read full article...
Thursday, March 12, 2009
Recession Investment, Debt, Housing and Identity SCAMS to Watch Out for / ConsumerWatch / Scams
By: Money_and_Markets
Larry Edelson writes: I'm taking a different path in this issue. I'm going to discuss a few things that hardly anyone is warning you about.
Yet, they're so important, they simply cannot be overlooked. To do so would be foolhardy.
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Wednesday, January 28, 2009
Wall Street Snake Oil Salesmen Selling Deflation / InvestorEducation / Scams
By: Oxbury_Research
Wall Street Snake Oil - I'm sure that movie buffs are familiar with the snake oil salesman character which appeared in many Western films. He was a “doctor” with dubious credentials that traveled by covered wagon from town to town. The fast-talking salesman would sell “medicine”, such as snake oil, using lots of marketing hype and bogus “evidence”. Read full article... Read full article...
Wednesday, January 21, 2009
A Bernie Madoff scam cannot exist under “traditional” portfolio management / InvestorEducation / Scams
By: Joseph_Toronto
“Traditional” asset management carries with it one cardinal rule which, by definition, simply does not permit a Bernie Madoff style fraud, ponzi scheme, or any other generic scam. By now most have read about the collapse of the Bernie Madoff hedge fund as roughly $50 billion of investor funds vanished in what turned out to be a gigantic ponzi scheme and the largest scam ever.Read full article... Read full article...
Thursday, January 15, 2009
Wall Street Corruption & Despair Continue / Stock-Markets / Scams
By: David_Vaughn
Can you believe a 50 billion dollar ponzi scheme?
Seems a lot of folks prized their friendship with Bernard Madoff. He must have been “Uncle Bernie” to the scores of wealthy investors who trusted him and loved those guaranteed 10 to 12% investment returns. A real picture here of what our economy has evolved into these past 20 years. Many simply lost their fortunes and others lost their lives.
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Monday, January 05, 2009
Financial System Rotten to the Core / Stock-Markets / Scams
By: Dr_William_R_Swagell
The Madoff “Ponzi” Scam...Con of the Century.
When I read that 70 year old Bernard Madoff... variously called the “Wizard of Wall Street” , “the man with the Midas touch”, and “the Jewish bond” ... was arrested on December 11th 2008 by FBI agents in relation to a US$50 billion dollar fraud I was astounded.
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Saturday, December 27, 2008
How We Can Avoid Another Tragic Ponzi Fraud Scheme / Stock-Markets / Scams
By: James_Quinn
“ If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State. ” (Joseph Goebbels) Read full article... Read full article...
Saturday, December 27, 2008
Early Suspicions About Bernard Madoff Ponzi Scheme Fraud / Stock-Markets / Scams
By: Stephen_Lendman
On December 12, 2008, the Wall Street Journal headlined: "Top Broker Accused of $50 Billion Fraud. Bernard L. Madoff....was arrested by federal agents (the previous day) after his sons turned him in for running what they said their father called a giant Ponzi scheme." Too late to matter, the SEC, in a civil complaint, cited an ongoing $50 billion swindle in asking a judge to seize the firm and its assets. "Our complaint alleges a stunning fraud that appears to be of epic proportions," according to Andrew Calamari, SEC's New York associate director of enforcement who was derelict in his duty since being appointed on November 14, 2004 after joining the agency in 2000.
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Sunday, December 21, 2008
Christmas Scams 2008 Shopping and Emails Alert / ConsumerWatch / Scams
By: Shahla_Walayat
The Fake Internet Shopping Website Christmas Scam - With Christmas just 4 days away shoppers need to be on guard against scammers taking advantage of the last minute rush to buy that is well underway.
Every year, there tends to be a must buy gift, usually a toy that is in short supply due to the demand from parents eager to fullfill their children's wishes.
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Wednesday, December 17, 2008
How to Protect Your Portfolio from Maydoff Style Ponzi Fraud Scams / Portfolio / Scams
By: Money_Morning
Martin Hutchinson writes: Bernard Madoff, former chairman of the NASDAQ Stock Market Inc. ( NDAQ ), was turned into the authorities by his sons last Thursday after his hedge fund, Bernard L. Madoff Securities LLC , was declared an insolvent “giant Ponzi scheme,” with estimated losses of $50 billion.
Madoff had provided investors with modest, steady returns, claiming to be making money by trading in Standard & Poor's 500 Index options, and closing all positions prior to mandatory reporting dates so that investors had no window into the fund's holdings.
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Tuesday, December 16, 2008
Madoff Fraud and the U.S. Government Debt Ponzi Scheme / Interest-Rates / Scams
By: Peter_Schiff
As the multi-billion dollar Ponzi scheme orchestrated by Wall Street insider Bernard Madoff unravels in the media spotlight, the nation is being presented with a rare opportunity to understand the true nature of many of our most cherished financial structures. Hopefully we have the wisdom to connect the dots.Read full article... Read full article...
Monday, December 15, 2008
Madoff Madness Exposes Rampant Fraud and Corruption / Stock-Markets / Scams
By: Mike_Shedlock
Corruption, fraud, and greed are rampant in every bull market. When the bear strikes that corruption and fraud are exposed. The biggest fraud in history was perpetrated Bernard Madoff, former chairman of the Nasdaq stock exchange. Many knew he was a crook as explained in Madoff Madness: "I knew he was cheating, That's why I used him" .
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Saturday, December 13, 2008
Biggest Fraud in History $50 billion Madoff Ponzi Scheme / Stock-Markets / Scams
By: Mike_Shedlock
The Madoff fraud story gets Curiouser and Curiouser . Let's take at the headlines starting from the top. Bernard Madoff arrested over alleged $50 billion fraud - Bernard Madoff, a quiet force on Wall Street for decades, was arrested and charged on Thursday with allegedly running a $50 billion "Ponzi scheme" in what may rank among the biggest fraud cases ever.
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Monday, October 20, 2008
The World of MLM's - Greatest Ponzi Scheme in History Part1 / Politics / Scams
By: David_Chu
deleted.
Wednesday, July 02, 2008
Investors Enticed With New Derivatives Investment Products / InvestorEducation / Scams
By: Adrian_Ash
How to Multiply Asia 's Gains by 230% - "...Whatever you think investing should taste of, it no longer just comes in vanilla..."
DID YOU KNOW...? Private investors like you can make 230% of emerging Asia 's super-soar-away gains between now and 2014. You're only tied in for three years. An early exit will return 130% of your initial investment.
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Saturday, March 15, 2008
Florida Boiler Room Shares Con Scams 15,000 Elderly Britons / ConsumerWatch / Scams
By: Sarah_Jones
More than 15,000 Britons have fallen victim to a "Boiler Room" Shares scam that allegedly netted the father and daughter perpetrators more than £35 million.
Paul Gunter, 58, and his daughter Zibiah, 25, were charged by Florida Police with with multiple counts of fraud and money laundering, which carry penalties of 5 to 25 years in prison. Both suspects are British Citizens but resident in the USA and in the process of obtaining US citizenship.
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Tuesday, January 08, 2008
02031035180 SCAM Calls Or Very Bad Public Relations by the Halifax? / ConsumerWatch / Scams
By: Sarah_Jones
Brit's up and down the land are being plagued by calls from 0203 103 5180, whilst most take the form of nuisance silent calls, however many people have been reporting that the caller proports to be calling on the behalf of a major UK Bank, The Halifax (Bank of Scotland) and proceeds to ask for personal banking and circumstance information.Read full article... Read full article...
Tuesday, December 11, 2007
How Fund Managers and Investment Bankers Turn Toxic Waste Bonds Into Scam Profits / Interest-Rates / Scams
By: Paul_Tustain
"...If only I could make a thumping great profit before the year-end, says the fund manager to his investment banker, then my bonus would be secure..."
UNLESS YOU ARE well informed, you are going to pay for getting investment bankers and fund managers out of the very deep hole they have recently dumped us all in.
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Wednesday, July 18, 2007
BBC Catalog of Phone Competition Deception's as Director General Demands "We must put our house in order" / ConsumerWatch / Scams
By: Sarah_Jones
BBC Director-General Mark Thompson today announced a package of tough measures to address the discovery of further serious breaches of editorial standards across some areas of BBC programmes and content.
The further emerging breaches, revealed following a BBC-wide search of around one million hours of output since January 2005, were reported today by Mr Thompson to the BBC Trust, and the Director-General announced the new measures in response to demands for action from the Trust.
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Saturday, June 16, 2007
Office of Fair Trading launches Interactive Scams Guides / ConsumerWatch / Scams
By: Submissions
The OFT is today launching a series of interactive scams guides designed to help people avoid being tricked into losing money. The guides expose the clever tactics used by scammers and are the OFT's latest tool in the fight against the scams that cost UK consumers £3.5 billion every year.Read full article... Read full article...
Saturday, April 21, 2007
Huge Credit Card Chip n Pin Scam linked to Tamil Tigers / ConsumerWatch / Scams
By: Shahla_Walayat
Motorists across the UK have fallen victim to a huge oraganised credit card skimming scam, that allegedly aims to fund the activities of the separatist Tamil Tiger group in Sri lanka.Read full article... Read full article...
Wednesday, December 06, 2006
Nigerian email 419 scams / ConsumerWatch / Scams
By: Nadeem_Walayat
The Nigerian scam is alive and kicking, and now targetting the emerging middle classes of India as well as continuing to hit the developed western world. In total the scam defrauds some $500 millions per year and is Nigerias fifth biggest industry.
The way the scam works is by an email sent out originating from Nigeria or another African country to a large mailing list. The emails promise a % share of millions of dollars, for helping officials of a government (or bank, or quasi-government agency or sometimes just members of a particularly rich family) out of an legal problem.
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