Tag: pyramid scheme
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Fraudster set free by Trump charged with running new $38-million Ponzi scheme
[ad_1] It pays to have friends in high places. A two-time convicted fraudster who had a 24-year sentence for running a $200 million Ponzi scheme commuted by President Donald Trump on his last day in office has been charged with running a new multimillion-dollar fraud. Eliyahu Weinstein, a 48-year-old, former used-car salesman from Lakewood, N.J.,…
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These are now the hot cryptocurrencies for crime
[ad_1] As Wall Street ramps up its campaign to sell bitcoin funds to the public, a new report reveals just how far the original cryptocurrency has already been displaced by thousands of newer rivals in the field where it was arguably most influential —financing crime. Bitcoin’s share of “illicit cryptocurrency activity” has collapsed by an astonishing 80%…
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California man sentenced to seven years in $9 million cow-poop Ponzi scheme
[ad_1] It was all just a pile of manure. A California con artist has been sentenced to nearly seven years in prison for duping investors out of close to $9 million in a Ponzi scheme that claimed to be converting cow poop into green energy. Ray Brewer, 66, pleaded guilty earlier this year to running…
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China’s shadow banking sector poses ‘rising risks of a financial crisis’: report
[ad_1] The Chinese government has been engaged in a decade-long campaign to stave off a financial crisis triggered by excessive debt growth, an effort that has critically damaged its $10.7 trillion real-estate debt market and set the stage for a political showdown between local and central governments as the country attempts to navigate sharply slowing…