Ponzi scheme

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Industry

OSC warns investors about bogus firm

The OSC is warning Ontario investors not to invest with Profitable Sunrise, which claims to be located in the United Kingdom while representing that its banking facilities are in the Czech Republic. Profitable Sunrise is offering investors “investment plans,” but it is not registered in Ontario to engage in the business of trading in securities, […]

By Staff |March 12, 2013

1 min read

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Industry

Madoff victims suffer setback

Investors who are victims of the multi-billion dollar Madoff Ponzi scheme have suffered a major setback in federal appeals court, reports forbes.com. Apparently, none of the victims invested directly with Bernard L. Madoff Investment Securities LLC (BLMIS). Instead, they invested in two limited partnerships, Spectrum Select, L.P., and Spectrum Select II, L.P. This means, says […]

By Wire services |February 26, 2013

1 min read

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Tax News

Ponzi distribution taxable after all

Appeal court reverses trial decision

By Doug Carroll |February 12, 2013

3 min read

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Industry

SEC charges real estate execs over Ponzi scheme

The SEC has charged five former real estate executives with defrauding investors.

By Staff |February 1, 2013

3 min read