Former UGA Coach Accused of Operating a Ponzi Scheme

‘Expert’ analyses and saw-it-with-my-own-eyes observations are worthless until you have done so.

If you sell a car or a television on Craig’s List and the buyer isn’t happy, there isn’t much he or she can do.  You don’t need a license to sell your old car or your old television, and the damage is limited to the price of what you sold. If you are selling investments that meet the legal definition of a “security,” though, you have to have a license, because the damage you can do by selling securities can last for generations. (more…)

Former Cornhusker Fullback Pleads No Contest to Securities Fraud Charges

What we forget is that the celebrity is human, driven by motivations that we can all understand if we step back.

Brian Schuster played fullback for the Nebraska Cornhuskers from 1992 to 1996.  He was on the national championship squads in 1994 and 1995.  That made him a celebrity to every Nebraska fan.  When he said that he could help them achieve their retirement goals people — especially Cornhusker fans — believed him.  But Bloomberg BusinessWeek reports that Schuster and a business partner led 150 conservative investors — many of then retired senior citizens — into unsuitably risky investments that cost them a total of $20 million.  According to Bloomberg: (more…)

‘Small’ Frauds Don’t Feel Small

There are more than one thousand investment scams operating in the United States at all times.

We post about one new scam every weekday.  Every day we have to choose from among several scams that have hit the news in the previous 24 hours.  In making that choice we pick the case with the largest reported losses.  That means that we do not post about the hundreds of scams that involve losses of less than $1 million.  Today we pause to report on two such cases.   (more…)

SEC Accuses Investment Adviser of Stealing Client Funds and Destroying Evidence

The Securities and Exchange Commission (“SEC” or “Commission”) has charged Omaha, Nebraska investment adviser, Envision Investment Advisors, LLC (“Envision”), and its principal Ryan M. Jindra, with stealing almost $775,000 from client assets. According to the Commission’s complaint:

The Securities and Exchange Commission (“SEC” or “Commission”) has charged Omaha, Nebraska investment adviser, Envision Investment Advisors, LLC (“Envision”), and its principal Ryan M. Jindra, with stealing almost $775,000 from client assets. According to the Commission’s complaint:

(more…)

 
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