Category Archives: Ponzi Schemes
Florida Man Sentenced To Prison For Role Ponzi Scheme Investment Fraud Scheme
According to a report from the Miami Herald, David J. Varrone, a businessman from Broward County, Florida, is headed to prison for his role in a Ponzi scheme. His wife, Sherry D. Varrone also faces sentencing for the investment fraud case later this year. Mr. Varrone stands accused of swindling more than three dozen… Read More »
SEC Charges Firm In $600 Million Real Estate Ponzi Scheme, Linked To Florida
On October 13th, 2022, the Securities and Exchange Commission (SEC) announced securities fraud charges against a New Jersey-based real estate development firm and four of its executives. The SEC alleges that more than 2,000 investors were affected by a $600 million real estate Ponzi scheme. The securities fraud scheme has links to real estate… Read More »
SEC Charges Loan Underwriter For Role In Nearly $200 Million Ponzi Scheme
On September 27th, 2022, the Securities and Exchange Commission (SEC) announced that a Florida man named Christian J. Gonzalez—a loan underwriter associated with MJ Capital Funding, LLC—has been charged with securities fraud. MJ Capital Funding, LLC is part of an ongoing $196 million Ponzi scheme investigation. Below, our Miami Ponzi scheme attorney provides a… Read More »
SEC Charges Florida Executive, Two Companies In Ponzi Scheme Case
On August 13th, 2021, the Securities and Exchange Commission (SEC) announced securities fraud charges against Johanna M. Garcia of Broward County, Florida. She stands accused of operating a Ponzi scheme through two companies she owned: MJ Capital Funding LLC; and MJ Taxes and More Inc. The SEC contends that Ms. Garcia raised at least… Read More »
SEC Charges Two Florida Residents as Part of a Massive Ponzi Scheme Case
On February 4th, 2021, the Securities and Exchange Commission (SEC) announced fraud charges in a massive Ponzi scheme case. The federal agency has charged three companies and three individuals as part of a $1.7 billion investment fraud action. Securities fraud charges were filed against: David Gentile of Clearwater, Florida; Jeffrey Lash of Naples, Florida;… Read More »
SEC Charges Florida Real Estate Company, Two Executives in $170 Million Ponzi Scheme Case
On February 18th, 2020, the Securities and Exchange Commission (SEC) announced emergency legal action against a Florida real estate investment company and two of its lead executives. Specifically, the agency named: EquiAlt LLC, a Tampa, FL based real estate company; Brian Davidson, the Chief Executive Officer (CEO); and Barry M. Rybicki, the Managing Director…. Read More »
SEC Charges Businessman and his Company in Massive Ponzi Scheme Case—He Falsely Claimed to Have Offices in Florida
On January 14th, 2020, the Securities and Exchange Commission (SEC) announced that it obtained an emergency asset freeze in an alleged $75 million investment fraud case. The agency believes that an Illinois-based businessman named Kenneth D. Courtright, III operated a Ponzi scheme through his company, Todays Growth Consultant Inc. In total, more than 500… Read More »
SEC Halts Multi-Million Dollar Ponzi Scheme in South Florida
On November 19th, 2019, the Securities and Exchange Commission (SEC) announced that it obtained an emergency restraining order and asset freeze in order to stop a $6 million Ponzi scheme in Palm Beach County, Florida. According to the agency, the Ponzi scheme was operated by: Neil Burkholz of Palm Beach County, FL; Frank Bianco,… Read More »
Executive Who Owned and Operated $1.3 Billion Florida Ponzi Scheme Sentenced to More than Two Decades in Prison
Earlier this year, the United States Attorney’s Office for the Southern District of Florida indicted Robert H. Shapiro and two other men on investment fraud charges. Mr. Shapiro—the owner and Chief Executive Officer (CEO) of the Woodbridge Group—was accused of operating a $1.3 billion Ponzi scheme in Florida. In total, more than 8,000 investors,… Read More »
SEC: Florida Investor Lost $9.5 Million in $100 Million Investment Fraud Scheme
On August 27th, 2019, the Securities and Exchange Commission (SEC) announced investment fraud charges against Brenda Smith and her fund Broad Reach Capital, LP. Among other things, the SEC’s complaint alleges that Ms. Smith — who took in more than $105 million from investors — was doing little more than operating a Ponzi scheme. … Read More »
