Charming Bunglers

Please don’t say that you “just have a knack for sizing people up.”

In the atmosphere, what happens when a cold front and a warm front meet? Storms, thunder, lightning. In the woods, what happens when three little pigs and a big bad wolf meet? Pork sandwiches. In the world you live in, what happens when an energetic businessman’s expectations of success meet the harsh realities of too little capital? Ponzi schemes. Prosecutors in Oklahoma have convicted four people in such a case. According to (more…)

They Don’t Stop

They are much more dangerous after they’ve been kicked out of the industry.

Prosecutors in Oklahoma are learning first hand that investment fraudsters don’t stop, even after they’ve been caught red handed.  The case involves Mark Trimble, a former hedge fund manager, currently serving a prison sentence for diverting investor funds to himself.  Prosecutors learned recently that, even after he’d been barred from trading in commodities, Trimble convinced at least one investor to let him trade on his behalf.  According to NewsOK: (more…)

Promoter of $40 Million Real Estate Development Charged With Money Laundering

In many ways, this case is common. Thousands of investors this year will fall victim to something like it.

Federal prosecutors in Oklahoma have charged Derek Christopher Swann with money laundering in connection with his alleged misuse of funds invested in a commercial real estate development he promoted. According to the NewsOK: (more…)

The Teacher Turned Day Trader

Day trading does not work because of the transaction costs.

According to WRAL in Raleigh, North Carolina, former teacher Ronnie D. Rainey convinced several people that he was a skilled day trader, making big profits through in-and-out trading of stocks.  He offered people the chance to capitalize on his skill by giving him their money to trade.  When he could not generate the promised returns, he sent his investors phony account statements showing that they were earning the promised returns.  Authorities estimate that he lost $3 million of his investors’ money.  When they caught up to him, Rainey was in Oklahoma.  According to WRAL:


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