Ziena “Zeeluv” Smidi, a traveling yoga teacher, must pay federal authorities almost $5.6 million for her role in a Ponzi scheme that collected over $30 million from investors. Smidi and her former fiancé, James Clements, were operating groups of companies entitled, Maximum Return Transactions. The ...Read the rest

Linda Webb, aka The Fraud Dog, leading fraud expert says, elderly family members are key targets for financial fraudsters. It is important that you ask your elderly family members to let you know if there are any “new strangers” that appear friendly in their lives. ...Read the rest

As in Ponzi schemes, the money collected from newer victims of the fraud is paid to earlier victims to provide a veneer of legitimacy. In pyramid schemes, however, the victims themselves are induced to recruit further victims through the payment of recruitment commissions. More specifically, ...Read the rest

“Ponzi” schemes promise high financial returns or dividends not available through traditional investments. Instead of investing the funds of victims, however, the con artist pays “dividends” to initial investors using the funds of subsequent investors. The scheme generally falls apart when the operator flees with ...Read the rest