Ponzi Scheme

The U.S. Commodity Futures Trading Commission (CFTC) today announced that it is charging New Century Investment Management, and it's principal, Ward Onsa, with solicitation fraud, misappropriation and issuing false account statements to commodity pool participants. New Century and Onsa are alleged...

A tweet from Michele Steele, who is Bloomberg's sports business reporter says that Comcast (NASDAQ: CMCSA) and Time Warner (NYSE: TWX) may not let the owners of the New York Mets, Fred & Jeff Wilpon, sell their stake in SNY, the paid cable channel, which is co-owned by all three. The Wilpon's...

Bernie Madoff is trying to pull a Fransisco Rodriguez, and save the owners of the Mets, Fred & Jeff Wilpon, saying they didn't knew about Madoff's scheme. Madoff also said that NY banks, like J.P. Morgan (NYSE: JPM) had to have known about the scheme. In an interview with the New York Times,...