Investment fraud isn’t relegated to Wall Street: Beware the Ponzi schemer next door

John McKenney’s a smart guy. A lawyer and tax expert, McKenney left Washington a few years ago and moved to Sarasota, Fla. He got a tan, took up yoga, started dating a well-heeled local woman. She brought McKenney into her well-heeled crowd. Read full article in the Washington Post [...]

Number of busted Ponzi scams more than tripled in 2009

It was a rough year for Ponzi schemes. In 2009, the recession unraveled nearly four times as many of the investment scams as fell apart in 2008, with “Ponzi” becoming a buzzword again thanks to the collapse of Bernard Madoff’s $50 billion plot. Read AP article here.

 Sourced from: Madoff Help News & Assistance

Madoff jailed, but ‘this case is not over’

FALLOUT: Prosecutors haven’t ruled out charges against his family and longtime associates.
Read Press Enterprise story here.

 Sourced from: Madoff Help News & Assistance

SIPC, The Grinch That Grotesquely Stole Christmas

You have probably seen the Television ad. A young girl is given a bicycle set in a white painted rectangle that’s, say, 8 by 4 feet. Delighted the young girl happily sits on the bicycle and starts to ride. Barely getting started she is stopped at the white line. “That’s as far as you can ride” scolds an austere gentleman who we are given to understand is a banker. Stunned the young girl gazes at him, befuddled and sad. “Didn’t [...]