Marcin Malarz, 48, formerly of Lake Forest, Illinois, a former securities broker, and and Arthur Lin, 39, Palatine, Illinois, his associate in a real estate business that converted apartments into condominiums, were indicted for allegedly fraudulently raising more than $9 million from approximately 25 investors and misappropriating a substantial portion of the money, resulting in a loss of at least $5.5 million.
Archives For Investment Scams
C. Tate George, 45, Newark, New Jersey, former NBA basketball player and the CEO of purported real estate development firm The George Group, was convicted on all counts on which he was indicted in connection with his role in orchestrating a $2 million investment fraud scheme.
James G. Berghius, 41, Sacramento, California, was convicted by a federal jury after a three day trial of four counts of mail fraud, four counts of wire fraud, and one count of money laundering related to a Ponzi scheme that he operated.
Walter Ng, his son Kelly Ng, and Bruce Horwitz, three real estate fund managers, have been charged with fraud for secretly using the assets of a new real estate fund to rescue an older, rapidly collapsing fund.
Five former real estate executives have been charged with defrauding investors into believing they were funding the development of five-star destination resorts in Florida and Las Vegas when they were actually buying into a Ponzi scheme.
Alvin R. Brown, Redondo Beach, California, is the subject of charges and an emergency asset freeze against his companies for defrauding seniors and other investors in a real estate investment scheme.
Juan Jose Alvarez De Lugo Azpurua, 53, Branford, Connecticut, waived his right to indictment and pleaded guilty before Senior U.S. District Judge Warren W. Eginton to one count of wire fraud stemming from his operation of a real estate investment scheme that defrauded individuals out of more than $2 million.
Daniela Spiridon, 42, St. Charles, Missouri, pled guilty to a real estate scheme related to the purchase or sale of properties.
Shawn Dicken, 39, Bay City, Michigan, is the subject of felony charges for her alleged role in an extensive multi-county Ponzi scheme.
Edmund Edward Wilson, 69, St. George, Utah, was indicted and charged with wire fraud, conspiracy to commit wire fraud, and money laundering in connection with what the indictment alleges was a real estate investment scheme he ran through his company, Fountain Group of Companies of Utah Inc.