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Investing Blind

Article Posted On - May 17, 2012

 

Fraud in the ‘Life Settlement’ business underscores need for thorough due diligence

Paula Whitaker, a Texas school teacher-turned entrepreneur, thought she was a savvy investor – not a mark who could fall victim to an investment scam.

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Asset Search from Hell

Article Posted On - December 1, 2011

 

Marc Dreier’s epic fraud looted some $750 million from its corporate victims. Could investigators hunt down the loot before it vanished?

In January 2009, as federal Judge Douglas Eaton pondered bail for super lawyer-turned-master con artist, Marc Stuart Dreier, the scope of Dreier’s swindle and the fascinating lengths he was willing to go to perpetrate it were still coming into focus.

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american-greedDead Money

Dead Money

Article Posted On - October 6, 2011

 

joel_david_salinasAfter hustling NCAA coaches into a $50 million Ponzi scheme, J. David Salinas committed suicide in July rather than face the music

On the morning of July 15, a Coast Guard patrol discovered a despondent J. David Salinas – the legendary Texas youth basketball benefactor turned investment manager – drifting aimlessly on his jet ski in the bay off Galveston. Under investigation by the Securities and Exchange Commission for peddling more than $50 million worth of phony bonds to a Who’s Who of collegiate basketball coaches – including Arizona’s Lute Olsen and Texas Tech’s Billy Gillispie – and wealthy families across the country, Salinas had decided to kill himself.

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AgenciesUnearthed Bribes Doom a Latin American Investment

Unearthed Bribes Doom a Latin American Investment

Article Posted On - July 22, 2011

 

In January 2007, eLandia International’s $20 million acquisition of Latin Node Inc. looked like a great deal. The merger would help the publicly-traded, network solutions provider based in Miami, Florida quickly expand into Latin American markets where it had aspirations of becoming a major Telecom player.

But had eLandia listened more carefully, its executives might have heard a faint ticking sound. It was only after the deal closed that eLandia realized that they taken possession of a time bomb about to explode inside its U.S. corporate headquarters.

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