Archive for the ‘Maryland’ Category

More Valuable Than Your Life Savings

Saturday, April 12th, 2008

Joseph Poteat defrauded investors of $17 million in retirement funds.  He’ll have more than three years to think about his crime.  U.S. District Judge William M. Nickerson sentenced the 61-year-old last week.  Judge Nickerson sentenced Poteat’s cohort, 70-year-old, Marie Bellamy, to 18 months of probation.    (more…)

Using Prison Time Productively

Monday, April 7th, 2008

From drug dealer to financial guru.  The Commodities Futures Trading Commission (CFTC) has alleged that Kenneth L. Branch (Branch) convinced 39 people to invest more than $1.4 million into a supposed commodities trading system - developed during his 12-year federal prison term for cocaine distribution - that supposedly produced “guaranteed” profits. (more…)

Old Dogs — Old Tricks

Thursday, January 10th, 2008

If you ever met David McDowell Robinson, you likely walked away under the impression that he was a licensed attorney who had earned a doctorate and had over 30 year’s experience in real estate.  You would have been impressed.  He was one of those people who seem to naturally inspire trust. (more…)

Maryland Investment Adviser Charged With Stealing $2.3 Million

Thursday, December 6th, 2007

The Securities and Exchange Commission today charged Marc A. Freedman of Gaithersburg, Maryland with defrauding his investment advisory clients.  Freedman was the President, Chief Compliance Officer and part-owner of TriCapital Advisors, Inc. (”TriCapital”). 

According to the SEC, between 1999 and June 2005, Freedman misappropriated approximately $2.38 million from three TriCapital clients, falsely representing that the funds had been invested for them or used to pay investment advisory fees.  (more…)