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Articles Posted in Investment Fraud

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Investors with money in some of financier Greg Lindberg’s many companies, including Northstar Financial Services (Bermuda), have suffered significant harm as billions of investor dollars are frozen and liquidation and litigation drag on. Ultimatelly, investors are not expected to recover a significant amount of money. Lindberg was criminally charged by the US Department of Justice and the State of North Carolina. His first trial ended with a conviction and sentence of seven years in prison, but the verdict was reversed after he spent 633 days in prison. He wrote a book on his prison stint, that included the words “633 Days” in the title, and discussed his “wrongful conviction.” One of the eight reviews on Amazon is from a reviewer who was defrauded by Lindberg and demands his money back.Investors with money in some of financier Greg Lindberg’s many companies, including Northstar Financial Services (Bermuda), have suffered significant harm as billions of investor dollars are frozen and liquidation and litigation drag on. Ultimatelly, investors are not expected to recover a significant amount of money.

Lindberg was criminally charged by the US Department of Justice and the State of North Carolina. His first trial ended with a conviction and sentence of seven years in prison, but the verdict was reversed after he spent 633 days in prison. He wrote a book on his prison stint, that included the words “633 Days” in the title, and discussed his “wrongful conviction.” One of the eight reviews on Amazon is from a reviewer who was defrauded by Lindberg and demands his money back.

Continue reading ›

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Silver Law Group, a nationally-recognized law firm representing victims of securities and investment fraud, is investigating potential claims to recover investment losses on behalf of owners of TriplePoint (TPVG) stock, which has recently dropped significantly in value on a report questioning the value of its loan book. If you own shares of TriplePoint (TPVG), Silver Law Group may be able to help you recover investment losses. Contact us today for a consultation at 800-975-4345. Report Alleges TriplePoint’s Equity Is Impaired TriplePoint Venture Growth BDC (TPVG) describes itself as a “business development company specializing in investments in venture capital-backed companies at the growth stage investments.” The company also provides “debt financing to venture growth space companies.” Silver Law Group, a nationally-recognized law firm representing victims of securities and investment fraud, is investigating potential claims to recover investment losses on behalf of owners of TriplePoint (TPVG) stock, which has recently dropped significantly in value on a report questioning the value of its loan book. Continue reading ›

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Two people have been charged with running a Ponzi scheme connected to the cattle business that raised around $650 million from victims across the country.  The alleged Ponzi schemers, revealed Tuesday, May 11, 2021, by an unsealed federal indictment in Colorado, are Reva Joyce Stachniw, 69, of Galesburg, Illinois, and Ron Throgmartin, 57, of Buford, Georgia. In 2020, a third man, Mark Ray, resident of Denver, was charged by criminal information in the scheme. According to the indictment, beginning around early 2017 and continuing through early 2019, victim-investors were directed to wire money into several bank accounts, primarily a checking account associated with an Illinois-based business called RM Farm & Livestock LLC. Victims were also directed to make payments directly to purported business associates but who were in fact other victim-investors. “False and fraudulent pretenses” were also used to solicit money for a Colorado marijuana business controlled by Stachniw, Throgmartin, and Ray, Universal Herbs LLC, the indictment says. Silver Law Group is a national securities and investment fraud law firm which represents Ponzi scheme victims in claims against the Ponzi schemer and any third parties who materially participated in the fraud or are otherwise liable under the law.Two people have been charged with running a Ponzi scheme connected to the cattle business that raised around $650 million from victims across the country.  The alleged Ponzi schemers, revealed Tuesday, May 11, 2021, by an unsealed federal indictment in Colorado, are Reva Joyce Stachniw, 69, of Galesburg, Illinois, and Ron Throgmartin, 57, of Buford, Georgia. In 2020, a third man, Mark Ray, resident of Denver, was charged by criminal information in the scheme. Continue reading ›

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You’ve probably seen this statement in fine print on many investment-related documents and websites: “Past performance does not necessarily predict future results.” And it means exactly that—just because something performed well previously does not mean that it will perform that well in the future. That’s the nature of all investments. Because investments and investment accounts are highly complex, it’s vital to understand not only the investment, but how it’s being presented and in what context. You must understand the context of the performance claim before considering investing or working with a particular broker dealer. Companies are required to provide detailed financial information which can reasonably be relied on by investors.  Unfortunately, to frequently, companies are misreporting their financials or prior success to bolster its performance or stock price.You’ve probably seen this statement in fine print on many investment-related documents and websites:

“Past performance does not necessarily predict future results.”

And it means exactly that—just because something performed well previously does not mean that it will perform that well in the future. That’s the nature of all investments. Continue reading ›

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On Friday, May 13, 2022 the SEC (Securities and Exchange Commission) sued StraightPath Venture Partners LLC and its three founders in federal court alleging the Florida firm raised over $410 million with fraudulent promises to investors about private companies that may hold IPOs (initial public offerings). The civil complaint was filed in Manhattan and seeks the appointment of a receiver to stop fraud at the firm as well as an asset freeze. SEC Alleges StraightPath Made Ponzi-Like Payments The SEC’s complaint alleges that StraightPath sold its investments by describing them as a way for Main Street investors to buy into the exclusive pre-IPO shares in highly-sought after companies like cryptocurrency exchange Kraken and meat-free burger manufacturer Impossible Foods. But according to the SEC, StraightPath in many cases did not have the shares it claimed to. It is also alleged that the company commingled investor and firm assets and made Ponzi-like payments to certain investors.On Friday, May 13, 2022 the SEC (Securities and Exchange Commission) sued StraightPath Venture Partners LLC and its three founders in federal court alleging the Florida firm raised over $410 million with fraudulent promises to investors about private companies that may hold IPOs (initial public offerings). Continue reading ›

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Las Vegas attorney Matthew Beasley was shot by FBI Special Agents who went to his house to interview him regarding his alleged involvement in a $300 million Ponzi scheme. Though shot in the chest and shoulder, Beasley refused to surrender and repeatedly confessed to his involvement in the scheme, Assistant U.S. Attorney Tony Lopez of the District of Nevada said in court. 49-year-old Matthew Wade Beasley was arrested and charged with assaulting a federal officer with a deadly weapon. Beasley made an initial appearance in federal court on March 8, 2022. Allegations in the criminal complaint state that FBI Special Agents went to a home in Las Vegas on March 3, 2022 to interview Beasley for an ongoing investigation. According to a press release from the Department of Justice “When agents knocked on the glass front doors, Beasley appeared with part of his body obscured. After an agent pulled back his suit jacket to show his FBI badge, Beasley then stepped into complete view with a gun pointed at his own head. When agents instructed Beasley to drop the gun, Beasley instead pointed it at the agents in a sweeping motion — causing one or more agents to discharge their firearm and striking Beasley.” An FBI SWAT team “had to forcefully enter the home and bring him out,” Lopez said. Beasley was released from the hospital. His lawyer sought house arrest, but a judge ordered Beasley detained without bond because Lopez said Beasley was a flight risk with significant assets including at least four homes, luxury cars, and an RV.Las Vegas attorney Matthew Beasley was shot by FBI Special Agents who went to his house to interview him regarding his alleged involvement in a $300 million Ponzi scheme.

Though shot in the chest and shoulder, Beasley refused to surrender and repeatedly confessed to his involvement in the scheme, Assistant U.S. Attorney Tony Lopez of the District of Nevada said in court. Continue reading ›

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Through a press release, the Commodity Futures Trading Commission (CFTC) announced the filing of an enforcement action against five individuals and five companies with misappropriation and violations of registration in connection with a scheme involving foreign currency exchanges (“forex”.) The CFCT filed the complaint in the U.S. District Court for the Southern District of Florida on January 28, 2022.Through a press release, the Commodity Futures Trading Commission (CFTC) announced the filing of an enforcement action against five individuals and five companies with misappropriation and violations of registration in connection with a scheme involving foreign currency exchanges (“forex”.) The CFCT filed the complaint in the U.S. District Court for the Southern District of Florida on January 28, 2022. Continue reading ›

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So-called “romance scams” proliferate, with both women and men being taken for millions of dollars every year. The Commodity Futures Trading Commission (CFTC) has issued a press release on the topic of romance scams that cultivate a “relationship” and then move in the direction of investing in a “great opportunity” as part of a “couple.” With two out of five couples meeting online, people of all ages are more than likely in a relationship with someone they met through an app, on social media, or somewhere else in cyberspace. While online dating has increased the pool of available singles, it’s not without problems. People interested in a relationship only touch a button or swipe to see multiple options for your next date. But it’s precisely that ease that makes online dating dangerous and expensive. In romance scams, where someone befriends another to convince them to send money. Anyone of any age can find themselves in this situation, especially if they are comfortable using dating apps. So-called “romance scams” proliferate, with both women and men being taken for millions of dollars every year. The Commodity Futures Trading Commission (CFTC) has issued a press release on the topic of romance scams that cultivate a “relationship” and then move in the direction of investing in a “great opportunity” as part of a “couple.” Continue reading ›

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