Category Archive: Ponzi Scheme

Apr 12

Pro-Athlete Lending Firm is an Alleged Ponzi Scheme

A Florida based financial advisory involved in professional athlete lending has been charged with defrauding its clients. On April 7th the Securities and Exchange Commission (“SEC”) charged William D. Allen and his business partner Susan C. Daub with running a Ponzi scheme which promised investors 18% returns, however a sizable portion of these “returns” were …

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Permanent link to this article: http://betweenthenumbers.net/2015/04/pro-athlete-lending-firm-is-an-alleged-ponzi-scheme/

Apr 06

Massive Fraud in the Middle East

The New Yorker magazine recently ran a scathing review of the collapse of The International Banking Corporation (“TICB”), the largest credit default and potential Ponzi scheme ever experienced in the Middle East. At its core was a man named Maan al-Sanea, a son-in-law to a prestigious Saudi Arabian family, who borrowed billions of dollars from …

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Permanent link to this article: http://betweenthenumbers.net/2015/04/massive-fraud-in-the-middle-east/