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To: afrayem onigwecher who wrote (18905)	11/16/2007 12:22:30 PM
From: StockDung	Read Replies (2) \| Respond to of 19428

"Three Hebrew Boys" protest indictment in investment scheme Updated: Nov 15, 2007 06:33 PM EST COLUMBIA, SC (WIS) - Three men charged in an investment scheme say they're innocent. Speaking out for the first time Thursday, the Three Hebrew Boys claim they didn't target investors, but that they're wrongfully being targeted by authorities. A packed Free Gospel Church held people in support of the Three Hebrew Boys. "I want the world to know that the God the Three Hebrew Boys serve is able to deliver us," said Pastor Joe. 'pastor Joe' is Joseph Brunson. He's one of the Three Hebrew Boys. Along with Tim McQueen and Tony Pough, the men were charged earlier this year in a multi-million dollar investment scheme. Authorities say the victims were their very own church members and military personnel. Now, inviting media to their church, the Three Hebrew Boys speak out for the first time, saying their mission was simply to help the poor. "We have committed no crime, we have done nothing wrong. But as Tim said, the real crime is you have three young black men in Columbia, South Carolina who have $17 million dollars in the bank. If we were crooks, who in their right mind would keep $17 million in the bank?" Brunson told the crowd. "This is not an investment company, and the reason they're trying to charge is with selling unregistered securities is because they classify it as an investment," said McQueen. They, in this case, is the attorney general's office. Officials say the three men sold unregistered securities, but never invested the money. Authorities say the plan, known as a Ponzi scheme, was all based on a promise to nearly 15,000 clients that they'd make unusually high profits on their investments. "We had multiple systems we used to generate returns," McQueen told the crowd. And he says all were legal. Many in the room say they signed up, and the three Hebrew boys always delivered. "Every contract, every piece of mail I was supposed to receive in the time I was supposed to receive it was brought directly to my doorstep. Believe in what these guys are doing. God bless the Three Hebrew Boys," says an investor. The men say they hope authorities will hear their message and quote, "do the right thing." a spokesman for the attorney general's office had no official comment. Reported by Dan Tordjman Posted by Logan Smith

To: afrayem onigwecher who wrote (18905)	2/23/2008 4:05:26 PM
From: StockDung	Read Replies (1) \| Respond to of 19428

Owner of supplement firm found guilty of fraud A federal court jury on Friday found the owner of a company that sells "male enhancement" tablets and other herbal supplements guilty of conspiracy to commit mail fraud, bank fraud and money laundering. Steve Warshak is founder and president of Cincinnati's Berkeley Premium Nutraceuticals, which distributes Enzyte and other products alleged to boost energy, manage weight, reduce memory loss and aid restful sleep. Television ads for Enzyte feature "Smiling Bob," a goofy, grinning man whose life gets much better after he uses the product, which allegedly boosted his sexual performance. Warshak, 40, could face more than 20 years in prison and his company could have to forfeit tens of millions of dollars. Prosecutors claimed customers were bilked out of $100 million through a series of deceptive ads, manipulated credit card transactions and the company's refusal to accept returns or cancel orders. They said unauthorized credit card charges generated thousands of complaints over unordered products. Warshak's mother, Harriett Warshak, also was convicted of conspiracy, bank fraud and money laundering.

To: afrayem onigwecher who wrote (18905)	2/27/2008 7:30:23 PM
From: StockDung	Respond to of 19428

US targeting over 100 taxpayers in Liechtenstein probe 1 day ago WASHINGTON (AFP) — US tax authorities said Tuesday they had opened an investigation of over 100 American citizens in relation to bank accounts held in the secretive European principality of Liechtenstein. The US authorities announced their probe as the German government said earlier Tuesday that it had widened a probe of bank accounts held by German nationals in Liechtenstein into a formal tax fraud investigation. "Combating off-shore tax avoidance and evasion are high priorities for the IRS," the Internal Revenue Service's acting commissioner Linda Stiff said in a statement. Tax authorities in Australia, Canada, France, Italy, New Zealand, Sweden and Britain are also combing through their records to see if any taxpayers have improperly hidden funds in Liechtenstein which is regarded as a tax haven. Officials in these countries fear accounts in Liechtenstein may be being used to evade paying tax. Stiff signalled that the US authorities were pursuing the matter aggressively. "We are determined to protect the United States tax system from abuse and ensure that taxpayers pay what they owe," she said. "It should be clear from recent events that there is no safe hiding place for the proceeds of tax avoidance and evasion. Anyone with hidden income and gains would be well-advised to make a prompt and complete disclosure to the Internal Revenue Service," Stiff recommended. The IRS announced its formal investigation days after a powerful US senator voiced concern on Thursday that American citizens may have opened accounts with Liechtenstein's LGT Bank in a bid to evade taxes. The IRS did not formally identify any of the more than 100 US citizens being probed. It also did not name any Liechtenstein bank or banks managing the accounts of the Americans under investigation. Liechtenstein's status as a secretive banking center has come under fire after Germany's government opened a vast tax probe of nearly 1,000 people suspected of hiding billions of dollars in accounts in the small European principality. US Senator Carl Levin, the chairman of a Senate investigations committee, said last week that he intends to probe whether wealthy American citizens had hidden funds in Liechtenstein bank accounts in a bid to evade taxes. "Liechtenstein's LGT Bank, which is owned by the royal family, has apparently harbored numerous secret accounts which hid the taxable assets of thousands of citizens from around the world," Levin said. Liechtenstein has vowed to uphold its banking privacy and tax-haven status which provides the small principality with a lucrative income. "At a time when other states are increasingly interfering in the private sphere of their citizens ... citizens feel a big need for strong privacy right protection," Liechtenstein's Crown Prince Alois said last Thursday. German Chancellor Angela Merkel told the Alpine tax haven last week to "waste no time" in agreeing with the Organization for Economic Cooperation and Development an accord on fighting cross-border fiscal fraud.

To: afrayem onigwecher who wrote (18905)	5/27/2008 11:07:10 AM
From: StockDung	Respond to of 19428

Wine buff jailed for $25,000 fraud By Christine Flatley May 27, 2008 04:17pm A WINE connoisseur stole almost $25,000 from the Queensland Wine Industry Association so he could pay for his two cars, a Brisbane court has been told. Gerald Marcus Keatinge, 53, of Bardon in Brisbane, was director and treasurer of the association when he wrote himself 12 cheques for a total of $24,100 over a 13-month period between November 2006 and December 2007. The father of two today pleaded guilty in the Brisbane District Court to one count of fraud as a director. He received two years' jail but will only serve three months behind bars after Judge William Everson partially suspended the sentence. The court was told Keatinge took the money to help finance two private cars - a BMW and a Ford utility. Defence barrister Ralph Devlin SC told the court his client had acted with "utter stupidity", but with the misguided belief that the association's board of directors would understand. He told the court Keatinge's behaviour had been a way of avoiding discussing financial problems with his wife, and that he had always intended to repay the money. The court was told Keatinge did repay the money in full on December 10, just five days after he resigned from the board. The court heard Keatinge, who now works in the orchards at Queensland-based wine company Cloverly Estate, had a long history in the wine industry and that his behaviour had essentially destroyed his career. A number of references from well-respected people in the wine industry - including Bruce Tyrell from Tyrell's Wines - were tendered on Keatinge's behalf. Judge Everson rejected Mr Devlin's bid for Keatinge's sentence to be wholly suspended, saying he saw "no reasonable alternative to a term of imprisonment". Keatinge's family was in court to support him.

To: afrayem onigwecher who wrote (18905)	5/27/2008 11:10:40 AM
From: StockDung	Respond to of 19428

Grenada amending offshore laws 1 day ago ST. GEORGE'S, Grenada (AP) — Grenada is amending its finance laws as the Caribbean nation prepares to relaunch its offshore sector. Angus Smith, chief of the island's financial regulatory body, said Sunday the Offshore Act Amendment Bill will give the attorney general the authority to take immediate court action against any offshore entity suspected of fraud. Grenada is relaunching its offshore sector after a six-year hiatus that was prompted by a multimillion-dollar (euro) fraud scheme when the First International Bank of Grenada collapsed and investors were cheated out of US$170 million (euro108 million). In 2002, Grenada suspended its financial sector's operations and later revoked the licenses of all offshore banks. Hosted by Copyright © 2008 The Associated Press. All rights reserved.

To: afrayem onigwecher who wrote (18905)	5/29/2008 4:27:47 PM
From: StockDung	Read Replies (1) \| Respond to of 19428

Clearwater man convicted in $60 million tax fraud conspiracy Article published on Wednesday, May 28, 2008 CLEARWATER – A Clearwater man and five other men have been convicted by a federal jury of a nationwide $60 million tax fraud conspiracy. Edward Bartoli, 78, of Clearwater and five others from across the country were convicted for a nearly decade-long scheme to market and sell sham domestic and foreign trusts through The Aegis Company, now defunct and formerly based in Palos Hills, Ill., to some 640 wealthy taxpayer clients throughout the United States, according to a press release from United States Attorney Patrick Fitzgerald from Illinois. The defendants diverted income from businesses into sham trusts for clients and hid hundreds of millions of dollars in income for them, Fitzpatrick wrote. Bartoli is a former attorney who helped found Aegis and was the legal director and a principal in the company, according to the press release. The defendants were indicted in 2004 and were convicted in May after an 11-week trial before U.S. District Judge Charles Norgle in Chicago. Bartoli and the other defendants were each found guilty of one count of tax fraud conspiracy, tax fraud regarding their own individual tax returns for 1997 through 2000, and additional charges. Bartoli is free on bond but still faces an allegation seeking forfeiture of several million dollars in illegal proceeds. Each count of tax fraud conspiracy, tax evasion, mail fraud and wire fraud carries a maximum penalty of five years in prison and a $250,000 fine, except Bartoli and two other defendants each face a maximum of 20 years in prison on one of the mail fraud counts. Each count of filing a false tax return or aiding and assisting the preparation and filing of a false tax return carries a maximum penalty of three years in prison and a $250,000 fine. There could also be further fines. The other defendants are Michael Vallone, 48, of Orland Park, Ill.; Robert Hopper, 62, of Gadsden, Ala.; Timothy Dunn, 48, of Chesterton, Ind.; William Cover, 72, of Naperville, Ill.; and Michael Dowd, 34, of Glenview, Ill. Sentencing is scheduled for August and September 2008. Article published on Wednesday, May 28, 2008 Copyright © Tampa Bay Newspapers: All rights reserved.

To: afrayem onigwecher who wrote (18905)	10/15/2008 5:58:42 PM
From: StockDung	Respond to of 19428

English Wine Merchants Convicted of Fraud After Targeting American Investors Authorities investigating a growing trend of high-pressure sales of collectible wine that never shows up Jacob Gaffney Posted: Wednesday, October 15, 2008 Wine collectors, already on the lookout for counterfeit wines, now need to guard against another form of fraud—firms trying to scam them by selling rare wines as an investment opportunity. A British court sentenced four defendants from a high-priced wine firm to prison terms on Sept. 29. The defendants had been found guilty of fraud for scamming nearly $1.5 million from American doctors and lawyers by offering to import fine wines as high-yield investments. In many cases, the wines never arrived stateside, according to the Serious Fraud Office (SFO), a department of the U.K. criminal justice system, which brought the case. The Southwark Crown Court sentenced two former directors of Vintage Wines of St Albans Ltd., Stephanie Callebaut and Shameen Suleman, to one year and three and a half years in prison, respectively. The two are also barred from acting as director for any other company for three and 10 years after their jail term ends, respectively. Two other defendants were sentenced to two and a half years and four and a half years in prison. The pair cannot be named due to the British equivalent of a gag order. A fifth defendant, Donald Thomas, was acquitted. According to Rojina Roe, a SFO spokeswoman familiar with the case, the two unnamed defendants are also involved in ongoing fraud investigations. According to Roe, employees of Vintage Wines of St Albans telephoned American doctors and lawyers from 2002 to 2005 with sales pitches. Using high-pressure, "must-buy-now," sales techniques, they promised excessively high returns, up to 130 percent, on investments in fine wine and spirits, typically Port, Armagnac or Brandy. In July 2005, the SFO launched an investigation into the company's practices when these wines failed to arrive or the cases and barrels of Bordeaux and Tuscan wines procured by the American investors were well below promised value. The five suspects were charged with conspiracy to defraud in March 2007. The jury returned its verdicts on Aug. 7, 2008. At the sentencing, Judge Gregory Stone commended the SFO with its prosecution of a complicated case. Vintage Wines of St Albans initially traded as Global Wine and Spirits Ltd and later became a subsidiary of another bogus company, Vintage Hallmark plc, which is also under SFO investigation. A director for Vintage Hallmark is one of the unnamed defendants. According to a local paper, the St Albans & Harpenden Review, the court heard that one Florida-based doctor, Michael Rock, remortgaged his home in 2003 in order to invest $458,200 in fine wine. It is believed he was sold an investment package, titled "Old and Rare Vintages." Rock has yet to receive compensation and the SFO is initiating confiscation proceedings against Vintage Wines of St Albans. Roe added that these types of boiler-room, high-pressure scams are popping up in the drinks industry, with the SFO usually working on five or six cases at any given time. On Oct. 8, police in Hertfordshire raided the offices of International Wine Commodities Ltd (IWC), another company offering wine investments. The raid was investigating suspicions that IWC failed to buy en primeur wines that clients had paid for. "These high pressure sales, using boiler-room tactics connected to alcohol fraud, first came to our attention eight or nine years ago, and it continues to evolve," Roe said. She added that the SFO is not allowed to offer guidance about avoiding fraud, but said, "potential wine investors should always seek independent financial advice." Back to top