The SEC alleges RAD Diversified REIT told 5,500 retail investors their money was buying rental houses. The complaint says the houses were foreclosing while the founders wired themselves federal tax payments, private jet charters, and pawn shop runs.
Federal prosecutors say two attorneys turned confidential merger files at Sidley, Latham, Goodwin, and three other firms into a decade-long trading tip line. This week, two more men are set to plead guilty.
The SEC says Zan Shaikh sold guaranteed monthly returns from a crypto mining operation to more than 380 investors. According to the complaint, only about thirteen cents of every dollar was ever spent on mining.
Two promoters have pleaded guilty. The co-founder is charged and abroad. The math that pulled in $1.89 billion was the oldest math in the file, dressed in new vocabulary.
For seven years, Fred Sharp allegedly ran the back office of a billion-dollar penny stock machine from a quiet B.C. address. This week, Canada's highest court closed the last door he had left.
John Sterling Myers ran money for people who knew him by his first name. Federal prosecutors say the statements he mailed them were fiction, and the accounts behind those statements were already dust.