BREAKING NEWS – BREAKING NEWS – BREAKING NEWS
Read all about it.
Captin Construction Group, Inc.
This case is set for trial on the March 2010 Trial Calendar (5 week docket) which commences on Monday, March 1, 2010. Counsel for all parties shall appear at a calendar call commencing at 2:00 p.m. on Friday, February 19, 2010, in courtroom 5 at the U.S. Courthouse, 701 Clematis Street, West Palm Beach, Florida.
Gabrielle Alexis and Law Offices of Gabrielle Alexis
Dorothy Delisfort-Theodule, Wealth Builders Circle, et al
Yolette Williams and Yopana Staffing Services
Yves Theodule, Divine Alliance, Inc, et al
Evens Theodule
Those cases are set for trial on the April 2010 Trial Calendar (4 week docket) which commence on Monday, April 5, 2010. Counsel for all parties shall appear at a calendar call commencing at 2:00 p.m. on Friday, March 26, 2010, in courtroom 5 at the U.S. Courthouse, 701 Clematis Street, West Palm Beach, Florida.
Krissy McKeon
This case is set for trial on the March 2010 Trial Calendar (5 week docket) which commences on Monday, March 1, 2010. Counsel for all parties shall appear at a calendar call commencing at 2:00 p.m. on Friday, February 19, 2010, in courtroom 5 at the U.S. Courthouse, 701 Clematis Street, West Palm Beach, Florida.
Patrick Eliacin
Rony Desvarennes
Dean Mead Egerton Bloodworth Capuano & Bozarth
Those cases are set for trial on the October 2010 Trial Calendar (4 week docket) which commences on Tuesday, October 5, 2010. Counsel for all parties shall appear at a calendar call commencing at 2:00 p.m. on Monday, October 4, 2010, in courtroom 5 at the U.S. Courthouse, 701 Clematis Street, West Palm Beach, Florida.
LaKay Investment Inc.
This case is set for trial on the March 2010 Trial Calendar (2 week docket) which commences on August 30, 2010, at 9:00 a.m., at the James Lawrence King Federal Justice Building, 99 N.E. 4th Street, Eleventh Floor, Coutroom #2, Miami, Florida.
Contact the Creative Capital Receivership if you have any concerns.
Phone: 1-888-405-5254 (English, Espanol, Kreyol, French)
Email: 
Posted in Corporate Crime, Scammers | 3 Comments »
We are elated to inform each and everyone that the SEC has charged 3 Men an a $14 Million Ponzi Scheme that targeted Haitians in Florida and New Jersey. Allegedly like George L. Theodule, The Securities and Exchange Commission said Ronnie Eugene Bass Jr., Abner Alabre and Brian Taglieri promised to double their clients’ money every 90 days through their HomePals Investment Club.
SEC Charges 3 Men In $14 Million Ponzi Scheme that targeted Haitians in Florida and New Jersey. Like George L. Theodule, The Securities and Exchange Commission said Ronnie Eugene Bass Jr., Abner Alabre and Brian Taglieri promised to double their clients’ money every 90 days through their HomePals Investment Club.
Litigation Release No. 21251
SEC Complaint
Related articles
The Miami Herald
Wall Street Journal
Sun-Sentinel
Palm Beach Post
South Florida Business Journal
HomePals Investment Club
100 E. Linton Blvd.
Delray Beach FL 33483
561-243-9361
Posted in Corporate Crime, Media: Crooks and Liars, Scammers | 2 Comments »
Mr. Theodule, the self proclaimed ‘Stock Broker’ and ‘Wall Street Insider’ (what a joke), was a sales associate for Bishop Toyota in Gilroy, California. A Sales Associate is a fancy word for ‘USED CAR SALESMAN’. You better believe it ‘my friends’, like McCain would say.
Gilroy is a city located in Santa Clara County, California. Mr Theodule lived also in Fort Wainwright, Alaska. His last known address is Wellington, FL . He is also active in Orlando, FL and the State of Georgia. He has been spotted in Campbell, CA, and Chicago, IL.
“When you see a used car salesman, you know right away that you have to be on your guard. And, you need to hold on to your wallet tighly. If it isn’t the gold teeth or the plaid jacket, it’s the excessive laughing and incessant back slapping. You know the guy’s going to try to play you, and he’s a goner once he starts whispering in your ear, “You know I’m not supposed to tell you this but I have a great deal coming…”
"I got a good deal for you!"
If only we knew.
We should have told George Theodule to ‘SHUT THE FUCK UP!’ when he promised to double our investments in one (1) month and go back to San Jose where he came from. But who knew he used to sell used cars in Gilroy instead of trading and/or investing in Wall Street?
George ‘The liar’ was interviewed back in March 2000 by The Business Journal. Here’s what the douche bag said to the publication:
“There’s a significant Haitian population in the valley, and only one good Caribbean restaurant here,” said San Jose resident George Theodule. It could be worse. “There weren’t any a few years ago,” said Mr. Theodule, a sales associate for Bishop Toyota in Gilroy. “My wife Elza is an excellent cook, and people are always telling her she should open a restaurant.”
Today George Theodule is a millionaire pocketing OPM, Other People’s Money. Mezami, francheman, bagay sa-a se yon deception capital pou nou tout.
Here’s the link to the full story: http://www.caribbeanfoodemporium.co.uk/siliconnews.htm
——-
UPDATE:
Thief and his Whore, their wedding invitation.
George Louis Theodule and, his new whore wife, Dorothy Delisfort
Thanks Anonymous for the picture.
————————————
George destroyed the operation in South Florida and opened a new one in Duluth, Georgia. He left Roger and others behind to deal with his mess. Those guys trusted him. He’s a mean spirited individual.
We have a mole inside The MANNA Group in Georgia. Here’s a partial list of George’s accomplices that our spy provided to us:
Distribution List Name: TMG_DAProject
Members:
1. Christopher Terry: cterry@themannagroupinc.com
2. Dorothy Delisfort: ddelisfort@themannagroupinc.com
3. Ed Benoit: ebenoit@themannagroupinc.com
4. Frantz Pressoir: fpressoir@themannagroupinc.com
5. Gabrielle Alexis: galexis@themannagroupinc.com
6. George Theodule: gtheodule@themannagroupinc.com
7. Gerard Jean Pierre: gjeanpierre@themannagroupinc.com
8. Gerson Corominas: gcorominas@themannagroupinc.com
9. Gilbert Delisfort: gdelisfort@themannagroupinc.com
10. Harry Desir: hdesir@themannagroupinc.com
11. Helene Seiz: hseiz@themannagroupinc.com
12. Jacquelin Thomas Cherizard: jcherizard@themannagroupinc.com
13. Josh: josh@themannagroupinc.com
14. Julius Theodule: jtheodule@themannagroupinc.com
15. Kathryn Parker: kparker@themannagroupinc.com
16. Klyde Richardson: krichardson@themannagroupinc.com
17. Krissy Mckeon: kmckeon@themannagroupinc.com
18. Magda Dominique: mdominique@themannagroupinc.com
19. Mark Rene: mrene@themannagroupinc.com
20. Michael Todd: mtodd@themannagroupinc.com
21. Mireille Victor: mvictor@themannagroupinc.com
22. Monia Emilcare: memilcare@themannagroupinc.com
23. Natasha Catline: ncatline@themannagroupinc.com
24. Ronald Virgil: rvirgil@themannagroupinc.com
25. Sam Giles: sgiles@themannagroupinc.com
26. Sandy Boswell: sboswell@themannagroupinc.com
27. Skyler Hinkle: shinkle@themannagroupinc.com
28. Wally Dorlus: wdorlus@themannagroupinc.com
29. Yolette Williams: ywilliams@themannagroupinc.com
30. Yves Theodule: ytheodule@themannagroupinc.com
Dorothy Delisfort has another email: nialana1@gmail.com
We need to cross reference those names and find out who these people are.
This is organized crime, pure and simple. It is worst than we though; WORST THAN THE ‘FOCUS FINANCIAL ASSOCIATES, INC.’, and ‘FOCUS DEVELOPMENT CENTER, INC.’, DEBACLE.
http://www.sec.gov/litigation/complaints/comp19258.pdf
Posted in Scammers | 829 Comments »
By Dianna Cahn | South Florida Sun-Sentinel
November 1, 2008
A federal court has sentenced a Delray Beach man to spend four years in prison and pay more than $6 million in restitution for persuading people to put money into a dead-end investment scheme, the U.S. Attorney’s Office announced Friday.
Jeffrey Jedlicki, 38, pleaded guilty in June to charges he conspired to commit mail and wire fraud as part of the scheme.
Prosecutors said Jedlicki worked in several boiler rooms throughout Florida from which he would telephone would-be investors to persuade them to invest in foreign currency options. Jedlicki convinced investors they could make high profits at low risk if they invested, while knowing that 95 percent of those who had invested with him had lost their money, court documents showed.
Jedlicki had already been barred from action as a broker by the National Futures Association.
Jedlicki was also found guilty of tax fraud after he failed to report $1 million in income he earned in 2003 and 2004. Jedlicki would divert his salary and commissions to a newly created corporation, then falsely deduct as business expenses his personal expenses, including payments for his car, credit card bills and meals, court documents said.
Find this article at:
http://www.sun-sentinel.com/community/news/delraybeach/sfl-flpboilerroom1101pnnov01,0,4770640.story
Posted in Scammers | 18 Comments »
Report suspected Corporate Fraud directly to FBI Headquarters via the Corporate Fraud Hotline. The toll-free telephone number, 888-622-0117, is manned by FBI analysts Monday through Friday from 9 A.M. to 5 P.M. EST.
If you want to report possible online crime, including Internet fraud (for example, “get-rich-quick” schemes or online auction fraud) whether or not you have lost money, please use the ICCC’s online complaint form at the Internet Crime Complaint Center.
To report e-mail that involves possibly fraudulent claims about medical devices or products (for example, so-called “miracle” cures) please email the Food and Drug Administration at webcomplaints@ora.fda.gov.
Forward investment-related spam e-mails to the U.S. Securities and Exchange Commission at enforcement@sec.gov.
To report suspected identity fraud, contact the Federal Trade Commission (FTC) to report the situation:
* Online: Submit the Complaint Input Form electronically;
* By telephone: Toll-free at 1-877-ID THEFT (877-438-4338) or TDD at 202-326-2502; or,
* By mail: Consumer Response Center, FTC, 600 Pennsylvania Avenue, N.W., Washington, DC 20580.
Posted in Tips | 3 Comments »
FOR IMMEDIATE RELEASE
OCTOBER 30, 2008
WWW.USDOJ.GOV
CRM
(202) 514-2008
TDD (202) 514-1888
MULTI-MILLION DOLLAR PONZI SCHEME OPERATOR CHARGED WITH WIRE FRAUD IN CONNECTION WITH FRAUDULENT SALE OF CONSUMER ELECTRONICS
R. Alexander Acosta, United States Attorney for the Southern District of Florida, and Jonathan I. Solomon, Special Agent in Charge, Federal Bureau of Investigation (FBI), announced today’s filing of an Information charging defendant Andres Leonel Pimstein, 48, of Miami-Dade County, with wire fraud in connection with the operation of a multi-million dollar “Ponzi” scheme, in violation of Title 18, United States Code, Section 1343. The case will be heard before United States District Judge Adalberto Jordan. Pimstein is scheduled to make his initial appearance before a United States Magistrate Judge on November 12, 2008. If convicted, Pimstein faces a maximum term of imprisonment of 20 years and a $250,000 fine.
According to the Information filed in court, from approximately March 2005 through early 2008, Pimstein solicited individuals to invest in a business venture involving the purported sale of consumer electronics, – namely, the Apple iPod®– to Ripley Corp. S.A., a department store chain based in Chile. Pimstein told investors that he planned to wholesale-purchase the iPod® and other electronics and sell them to Ripley at above-market rates. Pimstein promised investors annual returns ranging from 18% to 36% to be paid in monthly installments.
Pimstein solicited investors into numerous corporations created for operating the scheme, including The Bottom Line of South Florida, Inc., and Summit Trading LLC. During the scheme, Pimstein is alleged to have offered some of the investors the opportunity to earn additional proceeds by recruiting new investors. In exchange for a commission fee, these investors formed independent corporate entities from which to solicit and receive new investor funds.
To execute the scheme, Pimstein allegedly created false invoices to document the purported purchase and sale of various consumer electronics. In fact, however, he did not purchase anything for subsequent sale for profit to Ripley or anyone else. Instead, Pimstein used the investment capital he received from some investors, intended for product purchases, to pay monthly returns, “interest payments,” and distributions to other investors who sought to withdraw their money. This is called a “Ponzi” scheme. Pimstein also used the investment capital her received for how own personal expenses, including residential mortgage payments, automobile note payments, and child support.
As a result of the scheme, Pimstein raised at least $30 million. At least 85 of the scheme’s investors lost more than a total of $20 million in investment capital.
In addition to the criminal charges, the Miami Regional Office of the Securities and Exchange Commission today filed a civil complaint in the United States District Court against Pimstein, The Bottom Line of South Florida, Inc., and Summit Trading LLC in connection with the “Ponzi” scheme described above. The SEC complaint seeks permanent injunctions, an accounting, disgorgement, and civil penalties.
Mr. Acosta commended the investigative efforts of the Federal Bureau of Investigation, as well as the cooperative efforts of the Securities and Exchange Commission’s Miami Regional Office. This case is being prosecuted by Assistant United States Attorney Jeffrey E. Tsai.
Posted in Scammers | 38 Comments »
By JASON SCHULTZ
Palm Beach Post Staff Writer
Friday, October 31, 2008
A slick stock trader was sentenced to four years in prison for his sales tactics, according to the U.S. Attorney’s Office.
Jeffrey Jedlicki, 38, of Delray Beach, was sentenced by a federal judge today to 48 months in prison and ordered to pay $6 million in restitution. Jedlicki pleaded guilty in August to several mail and wire fraud charges.
According to a report from the U.S. Attorney’s Office, Jedlicki misled investors by telling them they could make high profits with little risk trading foreign currency options. In fact, 95 percent of his customers lost their money and he had previously been banned from acting as a stock broker by the National Futures Association.
Jedlicki also failed to report about $1 million in income to the Internal Revenue Service in 2003 and 2004, according to the report.
http://www.palmbeachpost.com/localnews/content/local_news/epaper/2008/10/31/1031boilerroom.html
——————-
Delray man faces prison for investment scheme
Reported by: WPTV staff
Email: webteam@wptv.com
Last Update: 11/01 10:48 am
DELRAY BEACH, FL – A Delray Beach man will be going to prison for his part in an investment scheme. Prosecutors say 38-year-old Jeffrey Jedlicki contacted people to persuade them to invest in foreign currency options.
Jedlicki was also found guilty of tax fraud after he failed to report $1 million in income he earned in 2003 and 2004. According to our news partners at the Sun-Sentinel, a federal court sentenced him to 4 years behind bars and to pay more than $6 million.
Posted in Media: Crooks and Liars, Scammers | 6 Comments »
The HEAT IS ON!
When we dialed George L. Theodule’s Lake Worth office at 561-713-1153 last Saturday morning, 12/06/08, when got this voice message. Listen closely, it’s so funny. Most of the times, that mail box is full; so many people are calling … good!
Posted in Scammers | 33 Comments »
Brown
George L. Theodule, do you still think you’ll get away it? The FEDS don’t play…
———————————————-
By T.J. GREANEY of the Tribune’s staff
Published Saturday, December 6, 2008
A Columbia businessman was convicted yesterday by a federal jury in Jefferson City of a multimillion-dollar investment fraud and participating in a money-laundering conspiracy.
Daryl M. Brown, 31, was the chairman of The Vertical Group, which had offices at 3210 Bluff Creek Drive and a “principal” partner of Cerberus Inc. in Fulton. Both corporations, prosecutors say, bilked investors out of more than $2 million with promises of high-yield, short-term returns that Brown and his partners said were safe and unavailable to the public.
During the scheme, which ran from December 2004 to September 2005, U.S. attorneys said in a written statement, Brown falsely claimed to be licensed by the Securities and Exchange Commission and/or the National Association of Securities Dealers. They also said Brown made false statements regarding the investments he was offering his victims, telling victims that in return for their investment – typically $50,000 or more – they would receive a profit of about 20 percent within 30 business days. After 30 days the investment would grow more rapidly, Brown is accused of telling investors.
Victims were told to wire funds to bank accounts in Florida and elsewhere. Instead of investing the money, prosecutors said, Brown used it to bankroll a lavish lifestyle, including chauffeur-driven limousines, entertainment and providing money to a girlfriend.
Brown also falsely claimed that he had a business degree from the University of Missouri, that he had played professional football with the Kansas City Chiefs and that he was involved in a multimillion-dollar trust, prosecutors said.
In September 2005, FBI agents arrested Brown at gunpoint outside his Columbia home after he tried to flee.
Brown was convicted of participating in a conspiracy to defraud investors and seven counts of wire fraud related to the conspiracy. He was also convicted of participating in a conspiracy to commit money laundering and three counts of conducting money transactions in criminally-derived property, as well as two counts of causing a person to travel across state lines as part of the investment scheme.
A spokesman for the U.S. Attorneys Office, Don Ledford, said these convictions mean a lot for victims.
“It’s not one of the biggest” cases we’ve tried, “but it’s not small potatoes either,” Ledford said. “If you’re one of the victims, it’s a huge deal.”
Ledford said at the upcoming sentencing hearing, District Judge Nanette Laughrey would rule on how restitution should be paid to the victims. The jury required Brown to forfeit $2 million of the proceeds from the scheme to the government.
The maximum penalty for all the charges would be over 200 years in prison, Ledford said, but the sentencing range will be based on a report presented by the federal office of probation and it likely would be much less than the maximum.
On March 28, 2007, Brown’s co-defendant, Sylvester L. Mitchell III, 38, of Columbia pleaded guilty to his role in the investment scheme, and a Clearwater, Fla., man entered a similar plea the previous year.
In 2007, a group of nine investors won a default judgment against Vertical under the federal Racketeer Influenced and Corrupt Organizations Act but have not collected damages.
Reach T.J. Greaney at (573) 815-1719 or tjgreaney@columbiatribune.com.
Here’s the link to that story: http://www.columbiatribune.com/2008/Dec/20081206News003.asp
Posted in Media: Crooks and Liars, Scammers | 7 Comments »
This BLOG was set up as a tool to expose George L. Theodule’s criminal organization and to bring him and his minions to justice and, more importantly, as a forum for you, the victims, to vent your anger.
We are happy to report that our hard work has paid off. It’s official! Agent Neptine Diejustie at the Florida Office of Financial Regulation is in charge of the case. The Office of Financial Regulation is dedicated to safeguarding the private financial interests of the public by licensing, chartering, examining and regulating depository and non-depository financial institutions and financial service companies in the State of Florida. The Office protects consumers from financial fraud, while preserving the integrity of Florida’s markets and financial service industries. Agent Diuejuste can be reached at 305-536-0467.
Don’t be intimidated by anyone to report that you’ve been victimized by George L. Theodule, some of the Clubs’ Presidents or any other copy cats Stock Options or FOREX investment scams in our community.
cccopm1804, The Blog Creator
——————————————-
by Brian Haas
11:18 AM EST, December 10, 2008
The Palm Beach County Sheriff’s Office is warning of a west Lake Worth company suspected of defrauding Haitians in an investment scheme.
George Theodule ran a company called the United Investment Club and Creative Capital Concepts, said Teri Barbera, spokeswoman for the Sheriff’s Office. She said the company promised to double investment amounts that ranged from about $3,000 to more than $20,000.
Investors, mainly in the Haitian community, became suspicious last November and tried to recoup their money. But the offices were closed, Barbera said.
She estimated that more than 1,000 people in South Florida and beyond may be victims. Anyone who has dealt with Theodule is asked to call Agent Neptine Diejustie at the Florida Office of Financial Regulation at 305-536-0467.
Direct link to the story!: http://www.sun-sentinel.com/news/local/palmbeach/sfl-1210scam,0,4365779.story
“Nou pran Ayisyin pou egare. Nap oue ki yes yo rele Ayisyin.”
by Facts
Posted in Media: Crooks and Liars, Scammers | 24 Comments »
By SONJA ISGER Click-2-Listen
Palm Beach Post Staff Writer
Wednesday, December 10, 2008
A man running an investment club from offices on Lake Worth Road promised to double investors’ money, but instead conned more than 1,000 people out of their cash, Palm Beach County sheriff’s officials warned Wednesday.
Investigators say “investors” would give George Theodule at least $3,000 and sometimes more than $20,000 to invest. He promised returns between 90 percent and 100 percent within three months.
The club at 8401 Lake Worth Road in suburban Lake Worth went by the name United Investment Club or Creative Capital Concepts.
Authorities say Theodule, 48, primarily targeted Haitians. Theodule is not in custody. “He’s in the wind,” Detective Adam Fox of the sheriff’s office financial crimes unit said Wednesday.
Public records indicate that until recently Theodule lived in Wellington and has a current address in Georgia.
Anyone who had financial dealings with Theodule or these investment companies is asked to contact agent Neptine Diejustie of the Florida Office of Financial Regulation in Miami: (305) 536-0467.
Staff researcher Niels Heimeriks contributed to this story.
Link!: http://www.palmbeachpost.com/localnews/content/local_news/epaper/2008/12/10/1210investclub.html?imw=Y
Posted in Scammers | 15 Comments »
December 2, 2008 – 6:36 PM
by Al Pefley
Angry investors, their patience running out, decided to show up at the office of United Investment Club in suburban Lake Worth to try to get their money back. The office is in the Crexent Business Center at 8401 West Lake Worth Road near the Turnpike.
“They’re not here. They got all our money but they’re not opening their doors,” said Nerline Horace Manasse of West Palm Beach. She told us she lost $25,000.
People say they were told they’d double their money in three months.
“All of us that are here, we gave all of them our life savins’!” Manasse shouted.
Most of them say their investments haven’t made a nickel.
“This is injustice! This is America. Stuff like that shouldn’t be happening. This is injustice and we are here because we want our money that we worked hard for,” she explained.
With so many frustrated investors filling the hallway and tempers starting to flare Palm Beach County Sheriff’s deputies were called in to take them outside.
They left peacefully, and gathered in the parking lot.
All these people say they lost money in several investment clubs run by a guy named George Theodule. Clubs with names like Creative Capital Concepts, Crown Ambassador Investment Club, and United Investment Club. They say all the clubs were based in the same office at 8401 West Lake Worth Road.
We tried to reach Theodule and got this recording: “The person you are trying to reach is not accepting calls at this time. Please try your call again later.”
“There was people that I knew that went in it, and they were getting their money, see what I’m saying? And that’s the reason you take a chance,” said Robert Brown of Tamarac, who lost $15,000.
Like the dozens of others who showed up, Brown is asking the same question. Where’s my money?
“Angry doesn’t cut it right now. Believe me. You’re beyond angry? It’s beyond,” he said.
Brown says the investment club offered him the chance to double his money in three months. He thought it sounded pretty good.
Another guy agrees. He lost $20,000.
“It is a whole lot of big mess, ’cause that’s the only thing I have. I have three kids and a wife,” said Monasse Lamy of Delray Beach.
A crowd of about one hundred people vowed to return again Friday morning to fill out complaints that will be sent to the Florida Attorney General’s office. They also will discuss getting a lawyer to try to recover their money.
Direct Link!: CSB-12
Posted in Scammers | 4 Comments »
December 5, 2008
WPEC – 12
Lake Worth–A Lake Worth businessman is accused of stealing hundreds of thousands of dollars from people across South Florida. Today more than 40 people showed up at Creative Capital Concepts to gathering written complaint for the Florida State Attorney General’s Office.
Authorities say hundreds of people invested thousands with George Theodule of Creative Capital Concepts. But now he’s no where to be found.
“At least on the surface it looks like this person has just vanished and that really isn’t the nature of an investment,” said Detective Adam Fox with the Palm Beach County Sheriff’s Office.
One investor says he lost $67,000 dollars.
“I’m a businessman, I feel embarrassed I got suckered,” said the investor who did not want his identity reveled. “I should have done a little more research–it’s a lesson.”
The more than 40 people standing outside Creative Capital Concepts around noon on Friday said they lost money in investment clubs run by Theodule. We ran his name on the Florida Division of Corporations website and found out he has 24 businesses registered across the state of Florida. Detectives say they’re confident all the businesses belong to the alleged scammer.
“I’m very angry because I’ve gotten my family members into this,” said Andres Myer who invested 25,000 dollars.
Detectives say Theodule could be using the businesses to hide money from investors. Meanwhile, no one can reach this man who clams be a stock broker. Not by phone and certainly not in the office.
“He’s just prolonging the situation–nobody is getting any money, there not even getting their original money back, ” says Myers.
We also found a blog dedicated to Theodule and his business practices. With dozens of negatives posts from all over the county. One blogger says she gave him $150,000 dollars back in June, but she hasn’t heard from him since.
We went to Creative Capital Concepts today, but were told no one was there. We also left several messages with Theodule although our calls have not yet been returned. The Sheriff’s Department said right now they are in touch with the attorney general’s office, the FBI, and other law enforcement agency’s across the county. Detectives say their could be more than one thousand victims.
Direct link!: CBS – WPEC 12
Posted in Scammers | 1 Comment »
Dimond Kaplan & Rothstein, P.A. is Investigating Claims Against Creative Capital Consortium, George Theodule, and Others to Recover Investment Losses Suffered in a Rumored Ponzi Scheme
WEST PALM BEACH, Fla., Dec. 12, 2008 (GLOBE NEWSWIRE) — The securities law firm of Dimond Kaplan & Rothstein, P.A. (http://www.dkrpa.com/) announced today that it has been retained by clients to investigate possible claims to recover investment losses in Creative Capital Consortium accounts managed by George Theodule and others. It is rumored that Creative Capital Consortium, George Theodule, and others engaged in a massive Ponzi scheme, and that investors are believed to have lost millions of dollars.
If you have suffered losses in conjunction with funds invested with Creative Capital Consortium or George Theodule, you may contact the attorneys at Dimond Kaplan & Rothstein, P.A. for a free case evaluation.
Dimond Kaplan & Rothstein, P.A. is an AV-Rated law firm that represents investors nationwide in stockbroker misconduct and investment fraud cases. They have represented investors against most major Wall Street brokerage firms in claims involving stocks, options, hedge funds, mutual funds, and bonds. Again, if you have suffered losses in conjunction with funds invested with Creative Capital Consortium or George Theodule, or if you have suffered investment losses attributable to stockbroker misconduct, please contact Jared A. Levy, Esq. of Dimond Kaplan & Rothstein, P.A. at (561) 671-1920 or http://mailto:jlevy@dkrpa.com for a free case evaluation. You also may visit Dimond Kaplan & Rothstein, P.A. on the web at http://www.dkrpa.com/ or http://www.investmentfraud-lawyer.com/.
The Dimond Kaplan & Rothstein, P.A. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=4684
Dimond Kaplan & Rothstein, P.A. Jared A. Levy, Esq. (561) 671-1920
Direct link: http://www.globenewswire.com/newsroom/news.html?d=156336
Keywords: Creative Capital Consortium, George Theodule, Ponzi scheme, George Theodule options
Posted in Media: Crooks and Liars, Scammers, Tips | 23 Comments »
“MERRY CROOKMAS”
TO
GEORGE L. THEODULE
&
HIS WHORE!
Here’s the exact location for the Rally and pictures of the HOUSE:
Please take plenty of pictures of the Rally and Email them to creative_capital_cons@yahoo.ca. They will be posted on our site.
Thank you,
cccopm1804
Posted in Scammers | 22 Comments »
Dear Alleged Victims:
We were able to reach Agent Neptine Diejustie of the Florida Office of Financial Regulation in Miami at (305) 536-0467 today. To file a complaint against George Louis Theodule you are instructed do so by clicking on this link http://www.sec.gov/complaint/cf942sec9570.htm or by visiting one of the COFR’s local offices nearest to you.
Please make sure to bring with you documents such as a signed contract, a cancelled check, or any other documents you fell might be useful to the investigators.
FORT LAUDERDALE
1400 West Commercial Boulevard, Suite 135
Fort Lauderdale, FL 33309
Tel: 954-958-5508 SC 423-5508
Fax: 954-598-7138 SC Fax 423-7138
Toll Free: 800-298-0485 (Florida Only)
MIAMI
401 NW 2nd Ave., Suite N708
Miami, FL 33128-1796
Tel: 305-536-0308 SC 452-0308
Fax: 305-810-1100 SC Fax: 452-1100
WEST PALM BEACH
3111 South Dixie Highway, Suite 302
W. Palm Beach, FL 33405
Tel: 561-837-5203 SC 252-5203
Fax: 561-837-5030 SC Fax: 252-5030
Toll Free: 800-837-7946 (Florida Only)
ORLANDO
400 W. Robinson St
Hurston South Tower, S225
Orlando, FL 32801-1799
Tel: 407-245-0608 SC 344-0608
Fax: 407-245-0806 SC Fax: 344-0806
Toll Free: 800-342-2247 (Florida Only)
Thank you,
cccopm1804
creative_capital_cons@yahoo.ca
Posted in Scammers | 33 Comments »
click on the image to launch the Crookmas video!
George, we’ll bring you lots of present in person December 25th.
Posted in Scammers | 15 Comments »
Here’s an email from “someone who claims to be a soldier serving in Afghanistan and also an alleged victim of George’s Theodule’s alleged investment scam.” We have protected his identity; Edwich Benoit knows who he is…
FROM A SOLDIER CURRENTLY IN AFGHANISTAN
Posted in Scammers | 13 Comments »
“MERRY CROOKMAS” TO GEORGE L. THEODULE & HIS WHORE!
Here’s the exact location for the Rally and pictures of the HOUSE:
George Louis Theodule and his Minions are Mother F$%#ers!
Please take plenty of pictures of the Rally and Email them to creative_capital_cons@yahoo.ca. They will be posted on our site.
Thank you,
cccopm1804
Posted in Scammers | 24 Comments »
Here’s proof that ALL INVESTMENT CLUBS’ PRESIDENTS & THEIR ASSOCIATES WHO LOST THEIR CLIENTS’ MONEY to George Louis Theodule ARE IN DEEP DO-DO. You better LAWYER-UP right away because the investors are coming for you … Some of you can’t read too well; have someone who can read this and explain it to you. GOOD LUCK! … NOT!!!
Merry Crookmas to all you Crooks!
Associated Press – Dec. 23 2008
NEW YORK — A fund manager who lost more than $1 billion of his clients’ money to Bernard Madoff was discovered dead Tuesday after committing suicide at his Manhattan office, marking a grim turn in a scandal that has left investors around the world in financial ruin.
Rene-Thierry Magon de la Villehuchet was found sitting at his desk at about 8 a.m. with both wrists slashed, NYPD spokesman Paul Browne said. A box cutter was found on the floor along with a bottle of sleeping pills on his desk. Police did not find a suicide note.
De la Villehuchet was one of several money managers and investors left reeling in the wake of Madoff’s alleged $50 billion Ponzi scheme, and his suicide demonstrates how the repercussions of this gigantic scam are intensifying by the day.
De la Villehuchet, 65, was a distinguished financier who came from a long line of aristocratic Frenchmen, and he tapped his connections in the world of European high society to attract clients to his firm, Access International Advisors. It was not immediately clear how he knew Madoff or who his clients were.
He grew increasingly subdued after the Madoff scandal broke, arousing suspicion among janitors in his Madison Avenue office tower Monday night when he demanded that they be out of there by 7 p.m. Less than 13 hours later, a security guard checked on him in his 22nd-story office suite. But de la Villehuchet was dead — a trash can placed near his body to apparently catch the blood, Browne said.
His death came as swindled investors began looking for ways to recoup their losses. Funds that lost big to Madoff are also coming up against investor lawsuits and backlash for failing to properly vet Madoff and overlooking some red flags that could have steered them away. It’s not immediately known what kind of scrutiny de la Villehuchet was facing over his losses.
De la Villehuchet (pronounced veel-ou-SHAY) comes from rich French lineage, with the Magon part of his name referring to one of France’s most powerful families. The Magon name is even listed on the Arc de Triomphe in Paris, a world-famous monument that was commissioned by Napoleon in 1806.
“He’s irreproachable,” said Bill Rapavy, who was Access International’s chief operating officer before founding his own firm in 2007.
The Frenchman’s firm enlisted intermediaries with links to upper-crust Europeans to garner investors. Among them was Philippe Junot, a French businessman and friend who is the former husband of Princess Caroline of Monaco, and Prince Michel of Yugoslavia.
De la Villehuchet, the former chairman and CEO of Credit Lyonnais Securities USA, was also known as a keen sailor who regularly participated in regattas and was a member of the New York Yacht Club.
He lived in an affluent suburb in Westchester County with his wife, Claudine. They have no children. There was no answer Tuesday at the family’s two-story house. Phone calls to the home and de la Villehuchet’s office went unanswered.
Guy Gurney, a British photographer living in Connecticut, was friends with de la Villehuchet. The two often sailed together and competed in a regatta in France in November.
“He was a very honorable man,” Gurney said. “He was extraordinarily generous. He was an aristocrat but not a snob. He was a real person. When he was sailing, he was one of the boys.”
The two were supposed to have dinner last Friday but Gurney called the day before to cancel because of the weather. But during the call, de la Villehuchet revealed he had been ensnared in the Madoff deceit.
“He sounded very subdued,” Gurney said.
Gurney said de la Villehuchet was happily married to his wife.
“I can’t imagine what it’s like for her now,” he said.
___
Associated Press Writers Rachel Beck and Joe Bel Bruno and the AP News Research Center in New York; Jim Fitzgerald in New Rochelle, N.Y.; and Joelle Diderich in Paris contributed to this report.
Posted in Media: Crooks and Liars, Scammers | 42 Comments »
George,
I’m not afraid of you. I don’t need to hide who I am. Yes, I called the sheriffs office on you on December 1st. And filed a complaint and gathered complaints to send to the attorney general.
When you continued to hide like a coward I called the News Media, then they followed up on December 5th with another story.
On December 10th, the PBSO (Palm Beach County Sheriff’s Office) warned via the news media about you from Martin County all the way to Key West.
That was all little me!
Stop blaming everyone else and I gave you an opportunity to do the right thing.
You wanted fortune, but fortune doesn’t come without fame.
Remember how i got on the radio station and you still lied. Stop blaming Club Presidents, Managers at McDonalds don’t go to jail for what the CEO did.
Stop calling people for mercy and more lies. Dorothy, stop calling Gucet like a dog in heat. Stop calling Magda and Mirielle.
You got on the radio and lied again, first saying your company was just to educate us. Yes you sure educated us.
George there is more media coming your way like national media very soon.
Gerson, you and your minion wife are going to prison also as co-conspirators.
How stupid George can you be, to think your checks aren’t traceable for rent or money wired everywhere. You have a paper trail that stretches from Maine to California.
When I filed my charges I noticed that a woman named Donna Haver had filed as well for you stealing her identity and opening businesses in her name. Check Sunbiz .org folks it’s all there listed as Donna Haver Inc with you George as the registered agent.
You will not live a life of luxury on my hard work or others hard work. That’s money in the bank. And your days are numbered so start practicing the perk walk. You said you would never be poor again. But you are poor in spirit and in the truth. Everything you have belongs to investors like myself.
I’m like a bad penny and I’m gonna show up everywhere till I get justice.
Sincerely,
Nerline Horace Manasse
We are compelled to publish Mrs. Monasse’s letter to George Louis Theodule, an alledged scammer. Mrs Monasse is an angry investor who lost big to Mr. Theodule’s reported Ponzi scheme. Other alleged victims are encouraged to follow Mrs. Monasse’s lead. Mr. Theodule can refute Mrs. Monasse’s charge(s) by sending his reply to creative_capital_cons@yahoo.ca. We are doing our best building a list of individuals who helped George L. Theodule and willingly benefited from their connection(s). We are asking the Public-at-Large to assist us in that matter; our sources will remain anonymous. The list will be handed over to the Feds.
Regards,
cccopm1804
creative_capital_cons@yahoo.ca
www.cccopm.wordpress.com
Posted in Scammers | 11 Comments »
BREAKING NEWS:
Horace-Manasse et al v. Theodule et al
Plaintiffs: Nerline Horace-Manasse and Gerald Sanon
Defendants: George Theodule, Dorothy Delisfort-Theodule, Yolette Theodule-Williams, Mario Theodule, Julius Theodule, Yves Theodule, A Creative Capital Concept$, LLC and Creative Capital Consortium, LLC
Case Number: 9:2008cv81560
Filed: December 26, 2008
Court: Florida Southern District Court
Office: Securities/Commodities Office
County: Palm Beach
Presiding Judge: Senior Judge Kenneth L. Ryskamp
Nature of Suit: Other Statutes – Securities/Commodities/Exchanges
Cause: Federal Question
Jurisdiction: Federal Question
Jury Demanded By: 15:0078 Securities Exchange Act
Amount Demanded: $100,000,000.00
Here is the link to the case: US Federal District Courts
——————
This is one of many lawsuits against George Louis Theodule and Others. Many investors who invested with some Investment Clubs were ‘innocent victims’. The negligence, incompetence, failure and/or complicity of some of those Presidents/Managers enabled Mr. Theodule to perpetuate and expand the scheme across state lines if not Overseas. As a result, many Investment Club Managers/Presidents who invested their clients’ money with Mr. Theodule will be brought to court.
cccopm1804
Posted in Scammers | 12 Comments »
George Theodule: The ‘Sac Of Gas’ Has Bursted – Hear What Came Out.
George Theodule: Radio Show interview by Brother Tiwil 12-23-08: Part 1
George Theodule: Radio Show interview by Brother Tiwil 12-23-08: Part 2
George Theodule: Radio Show interview by Brother Tiwil 12-23-08: Part 3
George Theodule: Radio Show interview by Brother Tiwil 12-23-08: Part 4
George Theodule: Radio Show interview by Brother Tiwil 12-23-08: Part 5
Posted in Scammers | 13 Comments »
Published: Dec. 30, 2008 at 11:18 AM
WEST PALM BEACH, Fla., Dec. 30 (UPI) — Haitian-American investors in Florida say a self-styled evangelical minister conned them out of their life savings in a massive Ponzi scheme.
A civil lawsuit filed Friday in Palm Beach County, Fla., accuses George Theodule, a Haitian immigrant who established a network of South Florida investment clubs and business ventures, of bilking hundreds of investors out of millions of dollars while promising to double their money through stock and options trading, the Miami Herald reported Tuesday.
Theodule wouldn’t comment to the Herald, but the newspaper said Florida’s Office of Financial Regulation has launched an investigation of his company, Creative Capital Consortium. The Florida attorney general’s office says it has referred complaints about Theodule to the Palm Beach County Sheriff’s Office and the Palm Beach County state attorney’s office.
“He used his Haitian background to reach Haitians,” said investor Nerline Horace-Manasse, 30. “He read the Bible, prayed with people. Cried with them. He made us believe he was going to help us.”
Attorneys for the plaintiffs say the alleged investment scheme began to unravel in August when the economy worsened and investors demanded their money but couldn’t find Theodule.
Posted in Scammers | 1 Comment »
BREAKING NEWS: READ ALL ABOUT IT!
U.S. Securities and Exchange Commission
SEC Halts $23 Million Ponzi Scheme and Affinity Fraud Targeting Haitian-American Investors
Additional Materials
* Litigation Release No. 20840
* SEC Complaint
This complaint is not related to Nerline Horace-Manasse and Gerald Sanon’s civil suit filed in the State of Miami. Mrs Manasse and Mr, Sanon are two investors who are suing Mr. George Theodule for defrauding them. The SEC is going directly after Mr. Theodule; this is a Federal Case.
Here’s how the media in different countries is cover the Theodule Ponzi scheme. We will continuously update the headlines.
The Miami Herald
Wednesday, 12.31.08
‘Affinity’ scams built on trust, familiarity
Riguad Dieudonne of Lauderdale Lakes insists he is careful about how he invests, but promises from a friend that he could double his money within 90 days were irresistible.
American Thinker
December 31, 2008
Feds bust another Ponzi scheme
… the scheme’s instigator, a Mr. George Theodule, was not as sophisticated as Bernard Madoff who defrauded investors for years; Theodule’s flim flam only began a little over a year ago and took in a tiny fraction of the alleged $50 billion that Madoff is alleged have conned …
L’Express, France
La SEC découvre un autre Madoff, plus modeste
Le responsable présumé de la fraude, George Theodule, est accusé d’avoir lancé l’entreprise en novembre 2007, à travers les sociétés Creative Capital …
Sun-Sentinel
Fraud scheme run from Lake Worth-area office burns Haitian-Americans, SEC alleges
But by the time the house of cards he’d built from an office west of Lake Worth collapsed, George Theodule had defrauded thousands of people out of more …
Radio Kiskeya – Haiti
Fraude pyramidale aux USA : 23 millions de dollars volés à des haïtiens
… Comme dans tout système pyramidal, l’escroquerie consistait à rémunérer les premiers investisseurs avec l’argent des nouveaux arrivants.
CBS News, NY
Ponzi Scheme Preyed On Haitian Americans
George Theodule used his Haitian background to urge Haitian-Americans nationwide to form investment clubs and funnel funds through his Lake Worth, Fla.
The Miami Herald
Tuesday, 12.30.08
Restraining order issued against Haitian accused of bilking investors
Theodule is accused of soliciting Haitian Americans and others by promising to double their money within 90 days through stock and options trading. Hundreds of investors were recruited to pour their savings into his ventures through a network of South Florida investment clubs, the SEC claims.
NBC6- Miami
SEC Halts Alleged Ponzi Scheme Targeting Haitians
The Miami Herald
Tuesday, 12.30.08
Investors say Haitian bilked them out of millions
South Florida Haitian Americans said they are victims of a massive scheme that bilked hundreds of investors of millions.
Mahalo – Hawaii
George Theodule allegedly promised investors that he could double their money in 90 days
Theodule, a manager of Creative Capital Consortium LLC, was sued by the United States Securities and Exchange Commission for allegedly running a large Ponzi Scheme that defrauded thousands of Haitian-Americans.
Palm Beach Post
Haitian businessman accused of $23 million Ponzi scheme
The Haitian-born Theodule attracted investors through investment clubs that he encouraged others to start in a network that grew rapidly over the past year, according to the SEC and lawyers for investors.
Leaders of the clubs agreed to recruit investors — many through their churches – and then turn the money over to Theodore’s Creative Capital Consortium.
E24, France
Un “petit Madoff” dans le collimateur de la SEC
Le coupable, George Theodule, est accusé d’avoir lancé la fraude en novembre 2007, à travers les sociétés Creative Capital Consortium et A Creative Concept.
LAW.COM
SEC Pursues Ponzi Scheme Targeting Haitian-Americans
While there’s been much focus on the rich of Palm Beach, Fla., who became victims of an alleged $50 billion scam wrought by Wall Street fund manager Bernard Madoff, federal securities investigators have quietly moved on another Ponzi scheme in South Florida, much smaller in scope but similarly devastating.
美國證監申禁制令阻1.8億投資騙案
信報財經新聞, Hong Kong
美國證監指控Creative Capital及其主要控制人George Theodule，在2007年11月推出的一項投資計劃，以90日內將投資者的本金增加1倍為餌，吸引投資者組成投資會，然後將
Reuters
Tue Dec 30, 2008 12:35pm EST
SEC halts alleged $23 million Ponzi scheme
Worcester Telegram
Tuesday, December 30, 2008
SEC halts alleged Ponzi scheme targeting Haitians
South Florida Business Journal
SEC unveils alleged Haitian Ponzi scheme
The Securities and Exchange Commission said Tuesday it has filed an emergency action to halt an alleged Ponzi scheme conducted by Creative Capital Consortium, LLC and A Creative Capital Concept$, LLC, both led by George L. Theodule.
Bloomberg
SEC Halts $23 Million Ponzi Scheme Targeting Haitian-Americans
A federal court in Florida agreed to freeze assets and appoint a receiver after the agency sued George Theodule
Examiner
Creative Capital gets a little too creative with investors’ money
George Theodule, currently residing in Georgia, and his Florida-based Creative Capital entities allegedly swindled investors out of about $23 million. Suckers were lured in with promises of a 100% return in three months. In typical Ponzi (Madoff) fashion, Theodule held old investors at bay by plying them with funds liberated from more recent investors–until the whole thing collapsed.
AHN Media
SEC Stops An Alleged $23 Million Ponzi Scheme
…Theodule allegedly lured investors by guaranteeing 100 percent returns within 90 days based on his proclaimed successful trading history.
Reuters América Latina, UK
EEUU detiene estafa con esquema piramidal a haitianos de Florida
La Comisión de Valores de Estados Unidos (SEC por su sigla en inglés) dijo el martes que Creative Capital y su director, George Theodule.
Puls Biznesu, Poland
SEC wykrył kolejną piramidę
Szefem piramidy miał być George Theodule. znowu te piramidy.Co kilka lat temat piramid wraca. Stały nr co kilka lat.
WPEC-cbs12 – Palm Beach, FL
Regulators shut down investment scheme
Federal regulators say thousands of Haitian-American investors lost more than $23 million through a network of purported investment clubs.
EUROPA PRESS
EEUU.- La SEC no detectó a Madoff, pero frena un timo piramidal dirigido a la comunidad haitiana de EEUU
El regulador bursátil de EEUU indicó que las sociedades Creative Capital Consortium LLC y A Creative Capital Concept$, así como su director, George L. Theodule, pusieron en práctica este ‘esquema Ponzi’ en noviembre de 2007 instando a los inversores a crear ‘clubs’ de inversión que canalizaban los fondos a Theodule y Creative Capital.
Capital.gr, Greece
Νέα επενδυτική απάτη εντόπισαν οι αμερικανικές αρχές
Η αμερικανική Επιτροπή Κεφαλαιαγοράς ανακοίνωσε ότι επενδυτική οντότητα, γνωστή ως Creative Capital και ο διαχειριστής της George Theodule εξαπάτησαν …
Jornal de Negócios – Portugal
Autoridade reguladora norte-americana descobre mais um esquema de …
Um juiz federal de Miami concordou em congelar os activos, depois de a SEC processar George Theodule e duas empresas sob seu controlo por alegadamente …
Sun – St. Kitts/Nevis
Alleged Haitian fraudster under scrutiny
United States federal and state authorities from Florida are investigating a Haitian-born, self-styled investment guru who allegedly duped hundreds of his compatriots in South Florida to pour their savings into his ventures.
cccopm1804
http://www.cccopm.wordpress.com
Posted in Scammers | 51 Comments »
John Pacenti
Daily Business Review
January 5, 2009
A federal judge has postponed a hearing for a man accused of swindling at least $23.4 million from Haitian Americans in South Florida until Tuesday.
The attorney for George Theodule of Loganville, Ga., will be given the opportunity to address U.S. District Judge Donald Middlebrooks, who signed a temporary restraining order freezing all of Theodule’s assets in 25 accounts.
The U.S. Securities and Exchange Commission filed a complaint Dec. 30 in federal court detailing how Theodule’s Creative Capital Consortium and A Creative Capital Concept$ in Lake Worth allegedly was a front for a Ponzi scheme, promising investors a 100 percent return in three months.
The SEC accused Theodule of pocketing millions in investor money.
Theodule’s attorney, Charles Leroy Pickett Jr. of Casey Ciklin Lubitz Martens & O’Connell in West Palm Beach, said Friday that he had no comment on the case.
Jared Levy, a West Palm Beach attorney with Dimond Kaplan & Roth who is representing investors in a class-action lawsuit against Theodule, said Friday that Theodule continues to promise clients they will get their money back.
Levy said Theodule is telling clients if they keep their money with him for the next year they will get a 200 percent return.
Jonathan Perlman, a partner with Genovese Joblove & Battista in Miami, has been named receiver in the case by Middlebrooks. He could not be reached for comment Friday.
Posted in Scammers | 11 Comments »
Madoff’s fund may not have made a single trade
By Jason Szep Jason Szep Thu Jan 15, 7:57 pm ET
BOSTON (Reuters) – Bernie Madoff’s investment fund may never have executed a single trade, industry officials say, suggesting detailed statements mailed to investors each month may have been an elaborate mirage in a $50 billion fraud.
An industry-run regulator for brokerage firms said on Thursday there was no record of Madoff’s investment fund placing trades through his brokerage operation.
That means Madoff either placed trades through other brokerage firms, a move industry officials consider unlikely, or he was not executing trades at all.
“Our exams showed no evidence of trading on behalf of the investment advisor, no evidence of any customer statements being generated by the broker-dealer,” said Herb Perone, spokesman for the Financial Industry Regulatory Authority.
Madoff’s broker-dealer operation, Bernard L. Madoff Investment Securities, underwent routine examinations by FINRA and its predecessor, the National Association of Securities Dealers, every two years since it opened in 1960, Perone said.
Madoff, a former chairman of the Nasdaq Stock Market who was a force on Wall Street for nearly 50 years, allegedly confessed to his sons the firm’s investment-advisory business was “basically a giant Ponzi scheme” and “one big lie,” according to court documents.
He estimated losses of at least $50 billion from the Ponzi scheme, which uses money from new investors to pay distributions and redemptions to existing investors. Such schemes typically collapse when new funds dry up.
Each month, Madoff sent out elaborate statements of trades conducted by his broker-dealer. Last November, for example, he issued a statement to one investor showing he bought shares of Merck & Co Inc, Microsoft Corp, Exxon Mobil Corp and Amgen Inc among others.
It also showed transactions in Fidelity Investments’ Spartan Fund. But Fidelity, the world’s biggest mutual fund company, has no record of Madoff or his company making any investments in its funds.
DISCREPANCIES
“We are not aware of any investments by Madoff in our funds on behalf of his clients,” Fidelity spokeswoman Anne Crowley said in an e-mail to Reuters.
Neither Madoff nor his firm was a client of Fidelity’s Institutional Wealth Services business, their clearing firm National Financial or a financial intermediary client of its institutional services arm, she said.
“Consequently, his firm did not work with our intermediary businesses through which firms invest their clients’ money in Fidelity funds,” she added.
There also appear to be discrepancies between monthly statements sent to investors and the actual prices at which the stocks traded on Wall Street.
For example, his November statement showed he bought software maker Apple Inc’s securities at $100.78 each on November 12, about a month before his arrest.
But Apple’s stock on that day never traded above $93.24. The statement also showed he bought chip maker Intel Corp at $14.51 on November 12, but Intel’s highest price on that day was $13.97.
“You could print up any statements you want on the computer and send it out to a client and the chances are the client wouldn’t know, because they are getting a statement,” said Neil Hackman, president and chief executive of Oak Financial Group, a Stamford, Connecticut-based investment advisory firm.
To some, the numbers did not add up.
About 10 years ago, Harry Markopolos, then chief investment officer at Rampart Investment Management Co in Boston, asked risk management consultant Daniel diBartolomeo to run Madoff’s numbers after Markopolos tried to emulate Madoff’s strategy.
DiBartolomeo ran regression analyses and various calculations, but failed to reconcile them. For a decade, Markopolos raised the issue with the U.S. Securities and Exchange Commission, which has come under fire in Congress in recent weeks for failing to act on Markopolos’s warnings.
(Additional reporting by Muralikumar Anantharaman; Editing by Andre Grenon)
CLAWBACKS
We smell blood in the water. Things are going to be very interesting for EVERYONE INVOLVED IN THE ALLEGED THEODULE PONZI SCHEME. Here’s why.
“Under federal law, the court-appointed trustee trying to unravel Madoff’s business can demand that people who profited from the scheme return some or all of the money.
These so-called “clawbacks” are generally limited to payouts over the last six years, but could still amount to big bucks for some investors.
When a hedge fund run by the Bayou Group collapsed and was revealed to be a Ponzi scheme in 2005, the trustee handling the case sought court orders forcing investors to return false profits. Many experts anticipate a similar process in the Madoff case.
Applying for the aid could give the trustee evidence he needs to initiate a clawback claim. On the other hand, investors who ignore the letter would most likely forfeit any chance of recovering lost funds.
No matter how they respond, it may only be a matter of time before investors wiped out in the scandal turn on those who unknowingly enjoyed the fruits of the fraud.
The sharks are all circling…”
By DAVID B. CARUSO, Associated Press , January 07, 2009
You need to act in order to get your initial investments back.
Call Jonathan Perlman, Esq. the court-appointed trustee trying to unravel George Louis Theodule’s business at 1-888-405-5254 or send an email to creativecapitalreceivership@gjb-law.com to report people who have falsy profited from the scheme even if they didn’t know it was a scam. IT’S THE LAW!
Some Investment Clubs and individuals associated with the Theodule Ponzi scheme are discouraging numerous investors from filing claims with the SEC about their losses. Those investors, at once, should report those Clubs and individuals to the FBI and/or contact Jared A. Levy, Esq. of the Law Firm Dimond Kaplan & Rothstein, P.A. at (561) 671-1920 for a free case evaluation. Levy is a West Palm Beach attorney who has already filed a federal class-action lawsuit against Theodule on behalf of a group of investors .
Dimond Kaplan & Rothstein, P.A. is an AV-Rated law firm that represents investors nationwide in stockbroker misconduct and investment fraud cases. They have represented investors against most major Wall Street brokerage firms in claims involving stocks, options, hedge funds, mutual funds, and bonds.
Madoff mailed more than $1 million in jewelry and watches to family and friends
Government prosecutors want the accused financier suspected of $50 billion fraud scheme taken from his home and locked up while the case proceeds.
He had $173 million in 100 signed checks in his New York office desk at the time of his arrest, ready to mail out to friends, family members and employees.
WARNING! WARNING! WARNING!
George L. Theodule and the other Investment Club Presidents may have done the same or attempting to. Therefore, we must keep the pressure on.
Judge bars investment scam suspect from raising cash
By JEFF OSTROWSKI
Palm Beach Post Staff Writer
Wednesday, January 07, 2009
… When Neptime Dieujuste, a Miami-based financial investigator for the Florida Department of Financial Services, visited Theodule’s office on Lake Worth Road last year, an employee gave Dieujuste a business plan that described the company as a venture capital firm.
Theodule also ran an auto-loan company called Reverse Auto Loans. The gimmick, according to Dieujuste: Buy a car, give your first eight monthly payments to Theodule, and through his investing acumen, Theodule would make enough money to pay off the entire loan… read more
The Court appointed Jonathan Perlman, Esq. as Receiver over both entities to safeguard assets. For information about the Receivership, you can visit the Receiver’s website. The Receiver also has set up an information hotline at 1-888-405-5254.
George Theodule did not show up…
Alleged scam victims show up to court for confrontation
By Juan Carlos
Jan 7, 2009
WEST PALM BEACH, FL (WFLX)
“I came here today [Tuesday] because I want my money back,” said Reynolde Chery who trekked to federal court Tuesday evening hoping to find George Theodule and get some answers as to where his $96,000 worth of investments went.
Report: Fraud suspect George Theodule emptied his bank accounts
MiamiHerald.com, FL – Wednesday, 01.07.09
BY JEFF OSTROWSKI Alleged Ponzi schemer George Theodule pulled $1.7 million from his bankaccounts in August, September and October, leaving a balance of only $9,000.
Alleged scam victims show up to court for confrontation – WPEC-CBS12
WEST PALM BEACH– “I came here today because I want my money back,” said Reynolde Chery who trekked to federal court Tuesday evening hoping to find George Theodule and get some answers as to where his $96,000 worth of investments went.
Fraud scheme run from Lake Worth-area office burns Haitian-Americans, SEC alleges
… Sheriff’s Office spokeswoman Teri Barbera said investigators with her agency initially looked into the issue when complaints began pouring in, but the Sheriff’s Office determined the scheme was too far-reaching and referred the information to the state Office of Financial Regulation…
South Florida Sun-Sentinel, December 31, 2008
ABC NEWS
Preying on Religious and Ethnic Ties, Affinity Scammers Can Target Anyone
“… bring your cameras and video cameras. We have to expose the alleged crooks because their neighbors may not know who they really are. They are masquerading as decent people living in quiet and expensive neighborhoods…” Ti Landeng
Posted in Corporate Crime, Media: Crooks and Liars, Scammers, Tips | 22 Comments »
PRESS RELEASE
Dimond Kaplan & Rothstein, P.A. Announces Class Action Filing Against George Theodule, Creative Capital, and Others
MIAMI, Jan 15, 2009 — Dimond Kaplan & Rothstein, P.A. announced today that it has commenced a class action lawsuit in the United States District Court for the Southern District of Florida on behalf of a putative Class consisting of all persons and entities who provided moneys to Defendants George Theodule; Creative Capital Consortium, LLC; A Creative Capital Concept$, LLC; Dorothy Delisort-Theodule; Yolette Theodule-Williams; Mario Theodule; Julius Theodule; or Yves Theodule (collectively, the “Defendants”); or to individuals or entities who were raising funds on behalf of any of those Defendants, for purposes of “investing” in Defendants’ fraudulent Ponzi scheme (the “Class”), from January 2007 through today and thereafter (“Class Period”).
Excluded from the Class are: Defendants, including their subsidiaries, affiliates, and their collective officers, agents, and employees; any “investment clubs” that solicited moneys on behalf or at the direction of Defendants; any officers, directors, principals, managers, or employees of any such investment clubs; members of the extended families of each Defendant, together with their heirs, successors and assigns; and individuals or entities who provided moneys to Defendants, or to individuals or entities who were raising funds on behalf of Defendants, for purposes of “investing” in Defendants’ fraudulent Ponzi scheme, but who received back moneys in excess of the amount “invested.”
If you wish to serve as lead plaintiff for the Class, you must file a motion with the Court no later than sixty (60) days from today. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests, please contact Plaintiff’s counsel, Jared A. Levy, Esq. of Dimond Kaplan & Rothstein, P.A., at (561) 671-1920. If you are a member of this Class, you can view a copy of the Complaint as filed in this class action online at http://admin.dkrpa1.lawoffice.com/CM/Custom/Firm-News.asp Any member of the purported Class may file a motion with the Court to seek to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain a silent class member.
The Complaint charges Defendants with perpetrating a Ponzi scheme by which the Class members were defrauded out of significant moneys. The Complaint alleges that Defendants – soliciting investments largely from the Haitian community – misrepresented to the Class that the principal amount invested was guaranteed at a “zero-loss,” and that pursuant to Defendants’ investment “strategies,” the Class Members’ moneys would double in value every three months. The crux of the case is that Defendants failed to inform the Class that: (1) any and all investment returns were dependent on contributions of moneys from new investors; and (2) that Defendants intended simply to steal the Class Members’ moneys pursuant to a fraudulent Ponzi scheme. Finally, the Complaint alleges that Defendants have failed to honor the Class Members’ withdrawal requests, causing losses to the Class.
Plaintiffs seek to recover damages on behalf of the Class, and have brought claims under the Securities Exchange Act of 1934 and the Securities Act of 1933 for fraud in connection with securities transactions and for selling unregistered securities, as well as claims under the common law for breach of fiduciary duty and unjust enrichment.
Plaintiffs are represented by Dimond Kaplan & Rothstein, P.A., whose lawyers have extensive experience in matters of this nature. The attorneys of Dimond Kaplan & Rothstein, P.A. focus their practice on class actions and complex commercial litigation in federal and state courts, as well as securities arbitration matters relating to stockbroker misconduct. Dimond Kaplan & Rothstein, P.A. is well known and respected in the South Florida legal community as honorable and diligent counsel. Dimond Kaplan & Rothstein, P.A. has offices in Miami and West Palm Beach, Florida. For more information, please feel free to visit Dimond Kaplan & Rothstein, P.A.’s website at www.dkrpa.com, or to contact Jared A. Levy, Esq. at (561) 671-1920.
Also on MSNBC: http://www.msnbc.msn.com/id/28680568/
Posted in Scammers | 23 Comments »
PRESS RELEASE
Business Litigation
West Palm Beach, FL, 01/21/2009 (JusticeNewsFlash.com)–The U.S. Securities and Exchange Commission (SEC) www.sec.gov filed a complaint against George Theodule and two of his companies. According to the SEC court filing, Theodule is accused of targeting Haitian-Americans in a South Florida Ponzi scheme. He is accused of promising investors 100% returns within three months. A U.S. District Court Judge in Florida granted a temporary restraining order requested by the commissions investigators. The judge froze 25 of Theodule’s accounts in three banks and appointed an attorney in Miami as receiver to locate and retrieve victim assets.
Theodule has also been named in a proposed class action lawsuit filed in West Palm Beach federal court. Theodule and his family allegedly worked scams in Georgia, New Jersey, New York, California, Texas, and Nevada. According to lawyers for the investors more than half of the scam victims live in Florida. It seems Theodule specifically targeted Haitian-American working class minorities. Investment fraud legal experts are speculating the losses could exceed $100 million.
Theodule targeted consumers with little investment experience and few assets. Most investors provided their entire life savings even if it was only several thousand dollars. Securities fraud criminals leave many innocent, hard working Americans penniless every year. If you or someone you know have fallen prey to a scam artist or white collar thief you may be entitled to compensation.
Media Contact: Susan B. Ramsey, a securities fraud lawyer in West Palm Beach, Florida
Press Release Contact Information:
Gary Roberts & Associates, P.A.
1675 Palm Beach Lakes Blvd. – Seventh Floor
West Palm Beach, FL, 33401 Phone : 561-686-1800 Fax : 561-686-1533
After 5:00pm EST try desk at 561-683-9805 ext 129. Don’t leave voice message
E-Mail : garylaw@bellsouth.net
“Serving clients throughout Florida”
“THE PONZI PRINCES”
by TIME MAGAZINE, Friday, Jan. 23, 2009
http://www.time.com/time/business/article/0,8599,1873639,00.html
Posted in Scammers | 15 Comments »
Their names lack the Dickensian flair of Bernie Madoff, and the money they apparently stole from investors was a small fraction of the $50 billion that Mr. Madoff allegedly lost of his clients’ savings.
But the number of other people who have been caught running Ponzi schemes in recent weeks is adding up quickly, so much so that they have earned themselves a nickname: mini-Madoffs…
(Daniel Acker/Bloomberg News) Nicholas Cosmo in federal custody in Hicksville, N.Y., after his office was raided.
On Monday, at a suburban New York train station, Nicholas Cosmo surrendered to federal authorities in connection with a suspected $380 million Ponzi scheme, in which investors paid a minimum of $20,000 for high-yield “private bridge” loans that he had arranged.
Mr. Cosmo promised returns of 48 percent to 80 percent a year, and none of his investors apparently minded — or knew — that Mr. Cosmo had already been imprisoned for securities fraud. In the end, 1,500 people gave him their money, often through brokers who worked on his behalf.
And in Florida, not far from the Palm Beach clubs where Mr. Madoff wooed some of his investors, George L. Theodule, a Haitian immigrant and professed “man of God,” promised churchgoers in a Haitian-American community that he could double their money within 90 days.
He accepted only cash, and despite the too-good-to-be-true sales pitch, he found plenty of investors willing to turn over tens of thousands of dollars.
“The offices were beautiful, and I was told it was a limited liability corporation,” said Reggie Roseme, a deliveryman in Wellington, Fla., who lost his entire savings of $35,000 and now faces foreclosure on his home.
According to federal regulators who have accused him of operating a Ponzi scheme, Mr. Theodule bilked thousands of investors of modest means, like Mr. Roseme, out of $23 million in all, and put $4 million in his own pocket. This money helped pay for two luxury vehicles for Mr. Theodule, a wedding, a lavish house in Georgia and a recent trip to Zurich that federal authorities are now investigating. The fate of the other $19 million is still unknown.
Reggie Roseme lost $35,000 he invested with George L. Theodule, who is accused of running a Ponzi scheme in south Florida.
In the South Florida Haitian-American community, Mr. Theodule turned to churches. But his scheme fell apart in November when 40 investors showed up at Mr. Theodule’s office to try to get their money back.
“Theodule had been the king and lived in the community, and then one day he vanished,” said Mr. Roseme, the investor who lost $35,000 in savings. He described Mr. Theodule as “friendly, someone you could trust, a real positive guy.”…
Nerline Horace-Manasse lost $25,000 investing with Mr. Theodule. She is now part of a class-action suit against him.
…Nerline Horace-Manasse, a 31-year-old Haitian immigrant with six children, saw her life’s savings of $25,000 disappear.
Statements showed her money had grown to $90,000, but when Ms. Manasse asked questions of Mr. Theodule, “he advised he could not tell me where he was putting the money because there were a lot of copycats out there and he’d go out of business.”
Now Ms. Manasse and Mr. Roseme are part of a class-action suit against Mr. Theodule.
Mr. Theodule’s attorney, Matthew N. Thibaut, did not return a call for comment. But in court papers, Mr. Theodule said, “Theodule admits he has told persons that he wants to help build wealth in the Haitian community.”
Lynnley Browning contributed reporting.
CBS News: Mini-Madoffs Pop Up Nationwide
AssociatedPress : Accused Broker in NY Ponzi Scheme Stays in Jail
Fox29 WFLX TV: George Theodule, where is my money?
The New York Times, “Ponzi Schemes Proliferate” – Madoff, Cosmos, Theodule, Ossie, Nadel and more
United Investment Club Busted in Lake Worth, Fl (Club owned by Roger Terma)
Club is still active: United Investment Club – Sunbiz.org
Posted in Scammers | 13 Comments »
Here is a list of the many thousands of people who invested with Bernard Madoff. More investors lost money, so this is a partial list. Click here to download the list. A list of the victims of the alleged Theodule Ponzi scheme is beeing compiled. We will publish it here once released.
Posted in Scammers | 3 Comments »
By Martha Graybow Martha Graybow – 2/25/09
NEW YORK (Reuters) – Two money managers who oversaw investments for Carnegie Mellon University and other institutions were arrested on Wednesday on charges of running an estimated $550 million, decade-long swindle, the latest in a wave of big financial fraud cases.
Paul Greenwood, 61, and Stephen Walsh, 64, managing general partners of broker-dealer WG Trading Co with main offices in Greenwich, Connecticut, were charged by U.S. prosecutors with conspiracy, securities fraud and wire fraud.
The pair, both former part-owners of the New York Islanders National Hockey League team, are accused of using client money as “their personal piggy-bank” to fund lavish lifestyles, according to the U.S. Securities and Exchange Commission.
The SEC and the Commodity Futures Trading Commission brought civil charges against the men and their companies, which also include WG Trading Investors LP and investment adviser Westridge Capital Management Inc in Santa Barbara, California. The SEC obtained a court-imposed asset freeze against the men and their affiliated entities.
The two men appeared in U.S. Magistrate’s Court in Manhattan where a judge set bail at $7 million to be secured by $1 million in cash or property not from proceeds of the purported fraud. The judge imposed travel restrictions. They did not enter a plea and were freed, but were ordered to meet the bail conditions by March 11.
Their lawyers declined to comment.
The charges come amid a wave of fraud cases involving money managers. The biggest case involves former Nasdaq Chairman Bernard Madoff, arrested in December and charged with fraud after authorities said he confessed to running a Ponzi scheme with losses of up to $50 billion over many years.
Greenwood and Walsh were arrested by the FBI on Wednesday morning, two weeks after their suspension by the National Futures Association for not complying with an audit.
A woman who answered the phone at a WG Trading office in North Hills, New York, declined to comment. There was no answer at the firm’s main office in Greenwich.
HORSES, COLLECTIBLES
Authorities contend the scheme began in 1996 and operated through this month. Of the $667 million that clients invested, Greenwood and Walsh misused as much as $554 million, the SEC said.
Greenwood, of North Salem, New York, was accused of using investor funds to buy items including horses and expensive collectibles, while Walsh, of Sands Point, New York, was accused of using client money for himself and to make large payments to his ex-wife.
The SEC complaint said other spending included multimillion-dollar homes and cars.
The purported scheme targeted institutional investors, including educational institutions and public pension plans, by promising to invest their money in an “enhanced equity index” strategy, the SEC said. Instead of investing the money as promised, they stole investor funds for their personal use, the commission said.
Greenwood and Walsh had been suspended by the National Futures Association on February 12 for not disclosing financial records and failing to answer questions about promissory notes “totaling hundreds of millions of dollars.”
The SEC said that as recently as February 6, Greenwood and Walsh had received a $21 million investment from the University of Pittsburgh, which had been a client of Westridge since 2002 and has about $65 million invested with the money managers.
Also Wednesday, former WG Trading employee Mark Bloom was charged with fraud by criminal prosecutors and the SEC, related to his activities at his North Hills Management LLC financial firm in New York.
Bloom stopped working for WG Trading in 2001, according to the court papers. The SEC said he misused more than $13.2 million of North Hills investor funds. His lawyer could not immediately be reached for comment.
(Reporting by Martha Graybow; Additional reporting by Christine Kearney; Editing by Richard Chang and Tim Dobbyn)
Posted in Scammers | 4 Comments »
According to Miami-Dade Circuit Court records, the Internal Revenue Service filed a federal tax lien for $104,236,285.85 against R. Allen Stanford and his estranged wife, Susan Stanford. AP FILE PHOTO, 2008
The Internal Revenue Service wants $104.2 million from flamboyant financier R. Allen Stanford, according to Miami-Dade public records.
BY MARTHA BRANNIGAN 2/25/09
mbrannigan@MiamiHerald.com
Texas billionaire financier R. Allen Stanford was in a heap of hot water with federal authorities even before the Securities and Exchange Commission filed civil charges Feb. 17 accusing him of running an $8 billion ”massive ongoing fraud” at his financial empire.
According to Miami-Dade Circuit Court records, the Internal Revenue Service filed a federal tax lien for $104,236,285.85 against Stanford and his estranged wife, Susan Stanford. The couple are in divorce proceedings in Texas.
The IRS lien, filed Aug. 21, 2008, in Miami, covers tax years 2002 through 2004, the court records said. The Stanfords are challenging IRS assessments in U.S. Tax Court related to federal income taxes for other years, and have fought tax bills at least as far back as 1996, according to tax court records.
An IRS spokesman in Fort Lauderdale, citing agency policy, declined to comment on the tax lien, which gives the government a legal claim to real estate and other property.
Larry Campagna, a Houston attorney representing Stanford in the tax case, said the IRS tax case is still pending but declined to comment further. Besides fancy homes in Antigua, the U.S. Virgin Islands and Houston, Stanford owns property at 20 Casuarina Concourse in Gables Estates. The larger-than-life Texan, who has gone by the title ”Sir Allen” since being knighted by the tiny island nation of Antigua and Barbuda in 2006, bought the sprawling bayfront Wackenhut estate in 2003 for $10.5 million and tore it down. It is now a vacant lot.
According to a Stanford employee who asked not to be named, Stanford has retained Brendan V. Sullivan, a senior partner at the Washington, D.C., law firm of Williams & Connolly, to represent him in his legal woes. Sullivan, who represented Oliver North in the Iran-Contra case, couldn’t immediately be reached for comment.
In a civil suit, the SEC accused Stanford of selling high-yield certificates of deposit in his Antiguan bank, Stanford International Bank Ltd., and lying about how the proceeds were invested.
The SEC said that Stanford ran the massive scheme with help from James M. Davis of Baldwin, Miss., who is the bank’s chief financial officer, and Laura Pendergest-Holt, also of Mississippi, who is chief investment officer for the bank and its Stanford Financial Group affiliate. No one has been charged with any crime in the matter.
Last week, a federal judge appointed a receiver over the bank and its affiliated Houston-based Stanford Group Co., which is a broker dealer and investment advisor, and Stanford Capital Management, also an investment advisor, and froze all their assets.
Stanford operated a major office at the Miami Center, catering to Latin American clients, particularly Venezuelans, who according to Venezuelan officials invested close to $3 billion in the offshore bank’s CDs
Posted in Scammers | 1 Comment »
Kendrick B. Meek Introduces Legislation Providing Tax Relief for Individuals Harmed by Ponzi Schemes
WASHINGTON, D.C. – U.S. Rep. Kendrick B. Meek (D-FL) introduced legislation amending the Internal Revenue Code to provide tax relief to individuals harmed by Ponzi schemes who have paid taxes on “phantom” earned income.
Meek legislation allows investors to recoup taxes paid on ´phantom´ income reported in earlier years
The legislation, H.R. 1159, was referred to the Ways and Means Committee. Congressman Meek serves as the lone Democratic Floridian on that committee.
Individuals who invested in these now exposed Ponzi schemes earned yearly income from these investments and paid taxes to the Department of Treasury on that income. While the principle investment made by these individuals is lost, the Meek bill would provide some measure of relief to individuals and allow them to recoup taxes paid on their perceived income, which was in fact nonexistent income.
Already in 2009, the Securities and Exchange Commission has exposed Ponzi schemes involving Bernie Madoff, Allen Stanford and George Theodule, a South Florida businessman who preyed upon Haitian-American investors.
“When it comes to Ponzi schemes, this is just the tip of the iceberg,” said Congressman Meek.
According to a newspaper analysis, in the Ponzi scheme orchestrated by Bernie Madoff alone, of the 11,374 investors affected by the fraudulent investment, nearly one in five, or 2,070 investors are from Florida, second behind New York. Nationally, over 200 non-profits were also affected by the Madoff Ponzi scheme.
“Many innocent victims spent a lifetime working hard, saving wisely and investing conservatively with trusted financial advisors who promised to serve as cautious caretakers of their financial future,” said Congressman Meek. “These investors, many who are older Floridians from retirement communities living on a fixed income, were defrauded and now face an uncertain future. They are liquidating assets, selling real estate, and returning to work in the midst of an economic recession. This legislation provides some degree of relief to harmed investors, allowing them to recoup taxes paid on phantom income. While their initial investment cannot be saved, the taxes paid on that income can.”
Under current law, the carryback period for theft losses arising from a Ponzi scheme is limited to three years, which restricts the ability of older investors to adequately recoup their losses, including taxes previously paid on their phantom income. The Meek legislation would extend the carryback period up to 10 years, which helps older investors who lost retirement savings meet their future needs on their own terms.
The bill also allows individual donors to educational institutions and other charities to replenish their lost gifts, but existing limitations in current law would limit their ability to further fund these organizations.
The legislation H.R. 1159 follows below:
111th CONGRESS
1st Session
H. R. 1159
To amend the Internal Revenue Code of 1986 to provide special rules for investments lost in a fraudulent Ponzi-type scheme.
IN THE HOUSE OF REPRESENTATIVES
February 24, 2009
Mr. MEEK of Florida introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to provide special rules for investments lost in a fraudulent Ponzi-type scheme.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. TREATMENT OF INVESTMENT LOSSES IN FRAUDULENT PONZI-TYPE SCHEME.
(a) In General- Section 165 of the Internal Revenue Code of 1986 (relating to losses) is amended by redesignating subsection (m) as subsection (n) and by inserting after subsection (l) the following new subsection:
(m) Treatment of Investment Losses in Fraudulent Ponzi-Type Scheme-
(1) IN GENERAL- If–
(A) a taxpayer has a loss on an investment in a fraudulent Ponzi-type scheme, and
(B) the amount of such loss (without taking into account any potential recoveries) can reasonably be estimated as of the close of the taxable year,
then the taxpayer may elect to treat the amount so estimated as a theft loss described in subsection (c)(2) incurred during the taxable year.
(2) FRAUDULENT PONZI-TYPE SCHEME- For purposes of this subsection, the term `fraudulent Ponzi-type scheme’ means any fraudulent investment operation which was managed in a manner that provided investors with returns (or purported returns) derived substantially from investments made by other investors rather than from profits.
(3) TREATMENT OF SUBSEQUENT RECOVERIES- If the aggregate estimated losses to which an election under paragraph (1) applies with respect to a fraudulent Ponzi-type scheme for all prior taxable years exceeds the aggregate actual losses by reason of a recovery received or accrued during any taxable year, the amount of such recovery shall be included in gross income for such taxable year to the extent of such excess. Proper adjustments shall be made in the application of the preceding sentence for additional recoveries in subsequent taxable years.
(4) PERPETRATORS OF FRAUD NOT COVERED- Paragraph (1) shall not apply to any person who perpetrated the fraud.’.
(b) Extension of Net Operating Loss Carryback Period- Paragraph (1) of section 172(b) of such Code is amended by adding at the end the following new subparagraph:
(K) LOSSES ATTRIBUTABLE TO INVESTMENTS IN FRAUDULENT SCHEMES-
(i) IN GENERAL- Subparagraph (A)(i) shall be applied by substituting `the applicable number of taxable years’ for `2 taxable years’ with respect to the portion of the net operating loss for the taxable year to which an election under section 165(m) applies.
(ii) APPLICABLE NUMBER OF TAXABLE YEARS- For purposes of clause (i), the applicable number of taxable years is any whole number elected by the taxpayer which is more than 2 but not more than the lesser of–
(I) 10 years, or
(II) the period that the taxpayer had amounts invested in the scheme to which such election applies.
(iii) ORDERING RULE- For purposes of this subparagraph, the portion of the net operating loss for any taxable year which is attributable to a loss to which an election under section 165(m) applies shall be the excess of–
(I) the net operating loss for such taxable year, over
(II) the net operating loss for such taxable year determined without regard to the amount allowed as a deduction by reason of an election under section 165(m).
(iv) COORDINATION WITH PARAGRAPH (2)- For purposes of applying paragraph (2), a loss to which an election under section 165(m) applies for any taxable year shall be treated in a manner similar to the manner in which a specified liability loss is treated.’.
(c) Waiver of Contribution Base Limitation on Charitable Contributions- Subsection (b) of section 170 of such Code is amended by adding at the end the following new paragraph:
(4) WAIVER OF LIMITATION ON CONTRIBUTIONS TO CHARITIES WITH LOSSES FROM FRAUDULENT PONZI-TYPE SCHEME-
(A) IN GENERAL- Paragraphs (1) and (2) shall not apply to any charity restoration deduction.
(B) CHARITY RESTORATION DEDUCTION-
(i) IN GENERAL- For purposes of this paragraph, the term `charity restoration deduction’ means the amount of charitable contributions made by the taxpayer during the taxable year to an organization described in subsection (c) which are designated by such organization for purposes of this paragraph.
(ii) LIMITATION ON AMOUNT DESIGNATED- The aggregate amount which may be designated by an organization for purposes of this paragraph for all taxable years shall not exceed the aggregate deduction which would be allowed to such organization under section 165(m) were such organization a taxpayer to which section 165(m) applies.
(C) OVERALL LIMITATION- In no event shall the amount allowed as a deduction under this section for the taxable year by reason of this paragraph exceed the excess of the taxpayer’s taxable income (determined without regard to this paragraph) for such year over the deduction allowed under this section without regard to this paragraph.’.
(d) Restoration of Unified Credit in Certain Cases- Section 2505 of such Code (relating to unified credit) is amended by adding at the end the following new subsection:
(d) Restoration of Unified Credit in Certain Cases-
(1) IN GENERAL- If–
(A) during any preceding calendar year, a taxpayer made a gift of an interest in an investment operation later determined to be a fraudulent Ponzi-type scheme (as defined in section 165(m)(2)),
(B) the taxpayer reported the amount of such gift on a timely filed return under this chapter, and
(C) the taxpayer subsequently makes a gift to the donee which received the gift referred to in subparagraph (A),
the amount under subsection (a)(2) for the calendar year in which the gift referred to in subparagraph (C) is made and subsequent calendar years (determined without regard to such gift) shall be reduced by the gift restoration amount.
(2) GIFT RESTORATION AMOUNT- For purposes of paragraph (1), the gift restoration amount is the lesser of–
(A) the amount of credit allowable under this section with respect to the gift described in paragraph (1)(C) (or would be allowable without regard to the limitation in subsection (a)(1)), or
(B) the amount of credit which would be so allowable with respect to a gift equal to the amount of the donee’s loss on such interest (without taking into account any potential recoveries) which can reasonably be estimated as of the close of the calendar year in which the gift described in paragraph (1)(C) was made.
(3) ADJUSTMENTS- Proper adjustments shall be made in the application of paragraph (2) with respect to gifts and recoveries in subsequent calendar years.’.
(e) Effective Dates-
(1) IN GENERAL- Except as provided in paragraph (2), the amendments made by this section shall apply to taxable years ending during 2008 or thereafter.
(2) GIFT TREATMENT- The amendment made by subsection (d) shall apply to gifts referred to in section 2505(d)(1)(C) of the Internal Revenue Code of 1986 (as added by this section) made after December 31, 2008.
Posted in Scammers | 2 Comments »
By Jesse Westbrook
March 9 (Bloomberg) — The U.S. Securities and Exchange Commission is asking investors to verify holdings as the agency increases scrutiny of money managers in the wake of Bernard Madoff’s alleged $50 billion fraud.
The SEC is sending letters to investment-advisory customers to learn whether their account statements match what money managers have disclosed to the agency, said Lori Richards, who heads the SEC’s inspections office. Disparities may mean advisers are keeping two sets of books, as regulators say Madoff did… read more
Posted in Scammers | 5 Comments »
Court Documents:
http://www.creativecapitalreceivership.com/court_documents.html
A BMW was seized!
Hotline:
1.888.405.5254
Posted in Corporate Crime, Scammers | 9 Comments »
Good news and good evening victims.
Here’s a list of some individuals and entities being sued so far:
1- Captin Construction Group, Inc.
2- Gabrielle Alexis and Law Offices of Gabrielle Alexis (YES!!!!)
3- Yolette Williams and Yopana Staffing Services (YES!!!!)
4- Evans Theodule
5- Kathryn Parker and Earlyviews, Inc. (Yeah!)
6- Krissy McKeon
7- Dorothy Desilfort-Theodule, Wealth Builder, LLC, et al (BIG CATCH!)
8- George Julius Theodule (Ah ah ah!)
9- Yves Theodule, Divine Alliance, Inc, et al (YES!)
10- Paulette Theodule
11- Patrick Eliacin
12- G&R Aviation Sevices
13- Michel Beaubrun
14- Georgette Desilfort
15- Rony Desvarennes
16- Ridahs Productions (YES!)
17- Dean Mead Egerton Bloodworth Capuano & Bozart
18- Development Funding
19- Dolce Regency Suites (!!!!)
20- Five Corners Investors (Good!)
21- Jean Dupre
22- Lakay Investment Inc. (Excellent!)
23- Millenium Executive Realty
24- Showcase Investment Group (Show us our money!)
25- Wanda Corominas, Gerson Corominas and Advanced Investors Group of Orlando (Big Catch)
Read all the details about those cases by clicking on the complaints here: http://www.creativecapitalreceivership.com/lawsuits.html
MORE LAWSUITS COMING... SPREAD THE NEWS.
Posted in Corporate Crime, Media: Crooks and Liars, Scammers | 7 Comments »
Gabrielle Alexis:
http://www.creativecapitalreceivership.com/depos/Alexis_Gabrielle_4.21.09.pdf
http://www.creativecapitalreceivership.com/depos/Alexis_Gabrielle_2_3_09.pdf
Dorothy Desilfort:
http://www.creativecapitalreceivership.com/depos/Dorothy_Delisofrt_4_13_09.pdf
http://www.creativecapitalreceivership.com/depos/Delisfort_Dorothy_Vol_I_04_10_09.pdf
http://www.creativecapitalreceivership.com/depos/Depo_Delisfort_Dorothy_02_09_09.pdf
George L Theodule:
http://www.creativecapitalreceivership.com/depos/George_Theodule_4_13_09.pdf
http://www.creativecapitalreceivership.com/depos/Theodule_George_Vol_I_04_09_09.pdf
Yollette William:
http://www.creativecapitalreceivership.com/depos/William_Yolette_4_21_09.pdf
http://www.creativecapitalreceivership.com/depos/Williams_Yolette_2_3_09.pdf
Posted in Scammers | 4 Comments »
October 6, 2009
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF FLORIDA
CASE NO. 08-CV-81565-HURLEY/HOPKINS
SECURITIES AND EXCHANGE COMMISSION,
Plaintiff,
v.
CREATIVE CAPITAL CONSORTIUM, LLC,
A CREATIVE CAPITAL CONCEPT$, LLC, and
GEORGE L. THEODULE,
Defendants.
Court documents – 361 pages of undisputed material facts.
Posted in Scammers | 2 Comments »
A federal judge on Friday sentenced a suburban Boca Raton man who pleaded guilty to running a $44 million Ponzi scheme to more than 24 years in prison.
Posted in Scammers | 1 Comment »
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