Canadian bank BMO has appealed an $834.2m (CAD1.1bn) charge it has been forced to record after a US jury found the bank liable for $564m…
View More BMO appeals $834.2m charge following loss of Ponzi scheme lawsuit in the US
Category: Ponzi Scheme
One-Third of Americans Believe Cryptocurrencies Are Ponzi Schemes, Survey Says
According to a survey from BanklessTimes.com, a third of the U.S. population believes digital assets are Ponzi schemes. Ponzi schemes usually involve someone promising high…
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2 I-Payout Officers Seek Way Out Of TelexFree Ponzi Suit
By Katryna Perera (November 9, 2022, 10:31 PM EST) — Two officers of International Payout Systems Inc. have asked a Massachusetts federal judge to toss…
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Bank ordered to pay $563 million to victims of Petters fraud
MINNEAPOLIS (AP) — A federal jury has awarded a record $564 million in damages to victims of a massive Ponzi scheme by Minnesota businessman Tom…
View More Bank ordered to pay $563 million to victims of Petters fraud
Attys Net $4M Fees From Calif. Bank Deal Over Ponzi Scheme
By Emilie Ruscoe (November 9, 2022, 6:03 PM EST) — A two-attorney legal team will receive $4.1 million in fees after brokering a $14 million…
View More Attys Net $4M Fees From Calif. Bank Deal Over Ponzi Scheme
BMO takes $1.1 billion provision on U.S. Ponzi scheme ruling
BMO said in a statement it was disappointed with the verdict and plans to appeal the decision to the U.S. Court of Appeals for the…
View More BMO takes $1.1 billion provision on U.S. Ponzi scheme ruling
Nouriel Roubini Suggests FTX-Binance Deal Shows Crypto Is a Ponzi Scheme
Nouriel Roubini flagged FTX’s rescue deal for Binance as a sign crypto investing is a Ponzi scheme. The “Dr Doom” economist noted FTX had itself…
View More Nouriel Roubini Suggests FTX-Binance Deal Shows Crypto Is a Ponzi Scheme
BMO Harris ordered to pay $564M in Ponzi scheme case
Dive Brief: A jury in a Minnesota bankruptcy court Tuesday ordered BMO Harris Bank to pay $564 million in damages in connection with a Ponzi…
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Ex-CFO Of Erika Jayne’s Husband Tom Girardi’s Defunct Law Firm Arrested Over Alleged Wire Fraud
Investigators believe Kamon has extensive knowledge of Girardi Keese’s finances and of how Girardi worked behind the scenes. He started work at the firm in…
View More Ex-CFO Of Erika Jayne’s Husband Tom Girardi’s Defunct Law Firm Arrested Over Alleged Wire Fraud
Man appears in court over alleged N1.4m ponzi fraud in Lagos
A 51-year-old man, Daniel Ogbonna, was on Wednesday brought before a Lagos Magistrates’ Court over alleged N1. 4 million ponzi fraud. Ogbonna was charged by…
View More Man appears in court over alleged N1.4m ponzi fraud in Lagos