Ponzi Scheme Archives

SEC charges Georgia’s First Liberty Building & Loan and owner in 0M Ponzi scheme

SEC charges Georgia’s First Liberty Building & Loan and owner in $140M Ponzi scheme

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The U.S. Securities and Exchange Commission (SEC) has filed civil charges and sought an emergency asset freeze against First Liberty Building & Loan, LLC, a lending institution based in Newnan, Georgia, and its founder and owner, Edwin Brant Frost IV. The SEC alleges that the firm and its owner orchestrated a Ponzi scheme that defrauded […]

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Crypto Ponzi Scheme Mastermind Gets 8 Years for M Investor Fraud—DOJ Confirms

Crypto Ponzi Scheme Mastermind Gets 8 Years for $40M Investor Fraud—DOJ Confirms

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Dwayne Golden of Harrisburg, Pennsylvania, has been sentenced to over eight years in federal prison for his role in a $40 million crypto Ponzi scheme, according to the U.S. Department of Justice. The sentence was delivered by Judge William F. Kuntz II in a Brooklyn federal court. The 57 years old man had pleaded guilty

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Bitcoin vs. Social Security: Former Maryland Governor’s Ponzi Scheme Remark Sparks Fury

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Former Maryland Gov. Martin O’Malley recently compared bitcoin to a Ponzi scheme while defending the U.S. Social Security Administration. The comparison drew criticism from bitcoin supporters, who countered by asserting that Social Security itself resembles a Ponzi scheme. O’Malley: Trump Administration After Social Security’s $2.6 Trillion Surplus In a recent speech defending the U.S. Social

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