February 24, 2024

The latest headlines from our reporters across the US sent straight to your inbox each weekday. Your briefing on the latest headlines from across the USA. A British man has been charged with running a Ponzi scheme which defrauded investors out of almost $100 million over fine wines. Stephen Burton, 58, was arraigned in federal court in Brooklyn on Saturday morning before US Magistrate Judge Taryn A Merkl. He is charged with wire fraud conspiracy, wire fraud, and money laundering conspiracy in connection with a scheme perpetrated through Bordeaux Cellars, a company that he operated. Mr. Burton was extradited on Friday to the Eastern District of New York from Morocco where he was arrested in 2022 after entering the country using a false Zimbabwean passport. His co-defendant, James Wellesley, 56, remains in extradition proceedings in the United Kingdom. If convicted, both men face up to 20 years in prison.

The indictment alleges that from at least June 2017 and continuing through February 2019, Mr. Burton and Mr. Wellesley solicited investors, including residents of the Eastern District of New York, at, among other places, investor conferences held in the United States and overseas. The defendants claimed to investors that Bordeaux Cellars brokered loans between investors and high-net-worth wine collectors that would be fully collateralized by high-value collections of wine. Bordeaux Cellars allegedly had custody of thousands fewer wines than loan documents reflected, including wine from Domaine de la Romanée-Conti, a highly sought-after and expensive wine.

According to a report by the Deccan Herald, Bengaluru realtors have reported a loss of Rs 1.30 crore due to fraudulent investments. The victims were promised high returns on their investments in real estate projects, but the developers disappeared with the money. The police have launched an investigation and have advised the public to be cautious of such investment schemes.

In another case, a video featuring Elon Musk has been used to lure victims into a fraudulent investment scheme. According to InvestmentShoax.com, many people have fallen victim to this scam, losing thousands of dollars. The website advises individuals to be wary of such videos and to always do thorough research before making any investments.

A West Edmonton house fire has been connected to an extortion spree, as reported by InvestmentShoax.com. The homeowner received a threatening email demanding a large sum of money in exchange for not setting the house on fire. The police are investigating and have warned the public to be cautious of similar extortion attempts.

Ponzi schemes have been a recurring issue in the world of investments. In an article by InvestmentShoax.com, insights from the Saradha and Anubhav Ponzi schemes are shared, highlighting the importance of being cautious and doing thorough research before investing. The article also emphasizes the need for stricter regulations and enforcement to prevent such schemes from occurring.

The Mumbai Police have assisted a cyber fraud victim in retrieving Rs 3.6 crore that was fraudulently taken from their bank account. According to InvestmentShoax.com, the victim had fallen for a phishing scam and had unknowingly given their bank details to the scammers. The police were able to trace the money and return it to the victim, highlighting the importance of being cautious of online scams.

Discount postage stamps may seem like a great deal, but InvestmentShoax.com warns individuals to be wary of scams when purchasing them online. Scammers have been known to sell counterfeit or invalid stamps, resulting in financial losses for the buyers. The website advises individuals to only purchase stamps from authorized sellers to avoid falling victim to such scams.

The Chico Police have issued a warning for vulnerable citizens who are being targeted by cryptocurrency ATM and online scams. According to InvestmentShoax.com, scammers have been using these methods to steal money from unsuspecting victims. The police have advised individuals to be cautious and to report any suspicious activity.

In a recent incident, local stores have discovered credit card skimmers on their premises, as reported by InvestmentShoax.com. These devices are used by scammers to steal credit card information from unsuspecting customers. The website advises individuals to be cautious when using their credit cards and to report any suspicious devices to the authorities.

Leave a Reply

Your email address will not be published. Required fields are marked *