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Woodbridge Securities
Woodbridge Securities (a/k/a Woodbridge Group of Companies) was a $1.2 billion Ponzi scheme run by CEO Robert H. Shapiro. The fraud scammed approximately 8,400 victims of retail investors, many of them elderly. Woodbridge filed for bankruptcy in December 2017. In December 2018, The Securities and Exchange Commission The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929. The primary purpose of the SEC is to enforce the law against market ... charged 13 individuals and 10 companies including television finance "guru" Jordan Goodman with fraud in connection with the Ponzi scheme, other figures included Alan H. New and David S. Knuth, co-owners of Synergy Investment Services. On 28 January 2019, Woodbridge and its 281 related companies ordered by the U.S. District Court for the Southern District of Florida to pay $892 million in disgorgement, former CEO Rober ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ponzi Scheme
A Ponzi scheme (, ) is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors. Named after Italian businessman Charles Ponzi, the scheme leads victims to believe that profits are coming from legitimate business activity (e.g., product sales or successful investments), and they remain unaware that other investors are the source of funds. A Ponzi scheme can maintain the illusion of a sustainable business as long as new investors contribute new funds, and as long as most of the investors do not demand full repayment and still believe in the non-existent assets they are purported to own. Some of the first recorded incidents to meet the modern definition of the Ponzi scheme were carried out from 1869 to 1872 by Adele Spitzeder in Germany and by Sarah Howe in the United States in the 1880s through the "Ladies' Deposit". Howe offered a solely female clientele an 8% monthly interest rate and then stole the money that the wom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Securities And Exchange Commission
The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929. The primary purpose of the SEC is to enforce the law against market manipulation. In addition to the Securities Exchange Act of 1934, which created it, the SEC enforces the Securities Act of 1933, the Trust Indenture Act of 1939, the Investment Company Act of 1940, the Investment Advisers Act of 1940, the Sarbanes–Oxley Act of 2002, and other statutes. The SEC was created by Section 4 of the Securities Exchange Act of 1934 (now codified as and commonly referred to as the Exchange Act or the 1934 Act). Overview The SEC has a three-part mission: to protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation. To achieve its mandate, the SEC enforces the statutory requirement that public companies and other regulated companies submit quarterly and annua ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Miami New Times
The ''Miami New Times'' is a newspaper published in Miami, Florida, United States, and distributed every Thursday. It primarily serves the Miami area and is headquartered in Miami's Wynwood Art District. Overview It was acquired by Village Voice Media Village Voice Media or VVM is a newspaper company. It began in 1970 as a weekly alternative newspaper in Phoenix. The company, founded by Michael Lacey (editor) and Jim Larkin (publisher), was then known as New Times Inc. (NTI) and the publicat ..., then known as New Times Media, in 1987, when it was a fortnightly newspaper called the ''Wave''. The paper has won numerous awards, including a George Polk Award for coverage of the Major League steroid scandal in 2014 and first place in 2008 among weekly papers from the Investigative Reporters and Editors for stories about the Julia Tuttle Causeway sex offender colony. In 2010, the paper garnered international attention when it published a story by Brandon K. Thorp and Penn Bul ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States District Court For The Southern District Of Florida
The United States District Court for the Southern District of Florida (in case citations, S.D. Fla. or S.D. Fl.) is the federal United States district court with territorial jurisdiction over the southern part of the state of Florida.. Appeals from cases brought in the Southern District of Florida are to the United States Court of Appeals for the Eleventh Circuit (except for patent claims and claims against the U.S. government under the Tucker Act, which are appealed to the Federal Circuit). History On the same day that Florida was admitted as a state, March 3, 1845, Congress enacted legislation creating the United States District Court for the District of Florida, .Asbury Dickens, ''A Synoptical Index to the Laws and Treaties of the United States of America'' (1852), p. 393.U.S. Dist ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Miami Herald
The ''Miami Herald'' is an American daily newspaper owned by the McClatchy Company and headquartered in Doral, Florida, a city in western Miami-Dade County and the Miami metropolitan area, several miles west of Downtown Miami.Contact Us " ''Miami Herald''. Retrieved January 24, 2014. "The Miami Herald 3511 NW 91 Ave. Miami, FL 33172" - While the address says "Miami, FL", the location is actually in Doral. Se this map of Miami-Dade County municipalities an the City of Doral land ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pyramid And Ponzi Schemes
A pyramid (from el, πυραμίς ') is a structure whose outer surfaces are triangular and converge to a single step at the top, making the shape roughly a pyramid in the geometric sense. The base of a pyramid can be trilateral, quadrilateral, or of any polygon shape. As such, a pyramid has at least three outer triangular surfaces (at least four faces including the base). The square pyramid, with a square base and four triangular outer surfaces, is a common version. A pyramid's design, with the majority of the weight closer to the ground and with the pyramidion at the apex, means that less material higher up on the pyramid will be pushing down from above. This distribution of weight allowed early civilizations to create stable monumental structures. Civilizations in many parts of the world have built pyramids. The largest pyramid by volume is the Great Pyramid of Cholula, in the Mexican state of Puebla. For thousands of years, the largest structures on Earth were ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
