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…)

Posted in Maryland, Maryland, Investor Protection, Investors at Risk, Scams | No Comments »

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…)

Posted in Maryland, Maryland, Commodities, Investor Protection, Investors at Risk, Scams, Ponzi schemes, Uncategorized | No Comments »