Articles Tagged with ponzi scheme

Bernie Madoff Victims To Receive $2.48 Billion In Payments

Bernie Madoff Funds Distributed

1,230 former customers of ponzi scheme operator Bernie Madoff will receive checks in the mail next week for a total cash return of $2.48 billion. The total recovery amount paid to date now equals $3.63 billion. Payments in this newest round of recovery range from $1,784 to $526.9 million. The total sum being returned was… Read more »

Christian Ponzi Schemer’s Megachurch Scam Preyed on Faithful

Ponzi Scheme Ephren Taylor

The arrest of Christian ponzi schemer Ephren Taylor seemingly underscores a worrisome trend in organized religion. 29-year-old Ephren Taylor is the latest Christian ponzi schemer make the news for using the faithful and trusting to bilk what the Securities and Exchange Commission (SEC) says was $11 million from churchgoers in a massive ponzi scheme. But… Read more »

Ephren Taylor Charged By SEC With $11 Million Ponzi Scheme

Ponzi Scheme Ephren Taylor

At the New Birth Baptist Church in Atlanta, Georgia, Taylor walked into the pulpit and accepted the microphone from pastor Eddie Long, who had just introduced him to the Sunday morning crowd of churchgoers, and stated: “Everything he says is based on the word of God. We’re going to show you how to get wealth… Read more »

R. Allen Stanford Found Guilty Of $7 Billion Ponzi Scheme

Allen Stanford Ponzi Scheme

Texas business tycoon R. Allen Stanford was found guilty on Tuesday of running a massive $7 billion ponzi scheme that grew over a period of 20 years. The guilty verdict included all but a single count of wire fraud against Stanford and came after four days of jury deliberations. Once considered one of the wealthiest… Read more »