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Blogs
February 4, 2009
News Roundup
Brrrrr. It's cold out there. [CBS4]Traffic fines are going up because the State can't pay its bills. [NBC6]And because the State can't pay its own bills, it sure as hell isn't going to start paying more of the poor's rent. [NBC6]A cigarette smoker nearly burnt down his apartment complex. [Herald]The ... More >>
Blogs
March 6, 2009
News Roundup
LocalVice President Biden tried to butter up reps from the biggest union in all the land, AFL-CIO, so they'd support the stimulus bill during a meeting in Miami Beach yesterday. [AP]He also announced $8.4 billion from the stimulus package will benefit transportation, and called the Miami Intermodal ... More >>
Blogs
March 19, 2009
Florida: Swindled and Beaten Bloody
Just in case yesterday's news of a bounce on the stock market gave you a glimmer of hope, Riptide is here to remind you that your future is bleak and depressing. The CBC recently compared Florida to "a terrified cardiac patient," lying awake at night, praying the angina will pass. "The confidence ga ... More >>
Blogs
April 6, 2009
Allen Stanford Will Punch You in the Mouth If You Ask About His Ponzi Scheme
In a state still reeling from Bernie Madoff and staggering toward 10 percent unemployment, it's tough to think of many adjectives less likely to endear you to the commoners than accused billionaire Ponzi schemer.via mediaimran's flickrStanford, at left, sponsored $20 million cricket matches in the g ... More >>
News
October 26, 1995
There Must Be More to Life than Cable TV
As nationwide deregulation looms, Morton Towers becomes Dade's first battleground in an escalating cable war
News
April 9, 2009
The Fall of a Titan
A downtown Miami firm allegedly helped build an $8 billion Ponzi scheme. It could have been stopped.
News
January 22, 2009
Madoff's Man
South Florida multimillionaire Michael Bienes never cut ties with Bernie Madoff, even after the SEC shut him down.
Blogs
April 16, 2009
Commemorate Your Ponzi Scheme Losses with a Nice Decorative Tile
Have you been swindled out of your life savings in a massive Ponzi scheme? Are you looking for the perfect way to remember all those heady days of 15 percent returns before the market collapsed? Do you just love R. Allen Stanford's manly Texas mustache? via eBay listing We suggest you buy en ... More >>
News
November 9, 2000
The Last Service Station, Part 2
As Big Oil forces out the last independent gas station dealers, the era of truly giant oil begins
Blogs
May 6, 2009
Did the Miami Herald Ignore Warnings Six Years Ago About Stanford Ponzi Scheme?
As we wrote last month, there weren't any shortages of warning signs that something was fishy at Stanford International. A number of regulators had ample opportunities to expose Stanford's fraud, from the SEC (which ignored several employee whistleblowers) to the DEA to Congress. via Liz Lomax 3D Il ... More >>
Blogs
June 24, 2009
Feds Indict Miami Man for $2.5 Million Ponzi Scheme
It has been so long since we've had a good old-fashion Ponzi scheme indictment down here in Miami. That was until Isaac Niego came along and got busted today.Federal authorites claim Niego defrauded 33 investers in a $2.5 million Ponzi scheme. Niego and an unnamed coconsipirator solicited investment ... More >>
Blogs
June 29, 2009
Madoff Gets 150 Years in Jail
Bernie Madoff, the West Palm Beach financial demon who ripped off thousands of investors, many in South Florida, has been sentenced to the maximum 150 years behind bars. "I'm responsible for a great deal of suffering and pain, I understand that. I live in a tormented state now, knowing all of the ... More >>
Blogs
July 6, 2009
Ponzi Schemer Allen Stanford Raked It in Thanks to Lax Florida Regulations
Way back in April, New Times reported on how Sir Allen Stanford built a $7 billion Ponzi scheme in the Caribbean thanks to blind regulators and political influence. via Liz Lomax 3D Illustrations for the Texas MonthlyYesterday, the Miami Herald fleshed out the local incompetance and greed that help ... More >>
Blogs
September 11, 2009
Former Miami DEA Chief Charged with Shredding Ponzi Schemer Allen Stanford's Docs
A quick lesson for all the school kids feverishly getting a Riptide fix before class this morning: If you're working for a blatant Ponzi scheme (and don't worry, someday you will) and the SEC phones and tells you not to lose any documents, don't tell your employees to fire up the shredder. It's just ... More >>
News
October 29, 2009
President Obama fails to go after those responsible for the financial meltdown
A quick lesson for all the school kids feverishly getting a Riptide fix before class this morning: If you're working for a blatant Ponzi scheme (and don't worry, someday you will) and the SEC phones and tells you not to lose any documents, don't tell your employees to fire up the shredder. It's just ... More >>
Blogs
October 30, 2009
Moron of the Week: Self-Destructive Ponzi Baller Sean Healy
Photo via MySpace.com Never mind the fact hat he dresses like a club promoter. If your investment manager has a MySpace page, get a new investment manager.Forget Flagler, Tuttle, and Brickell. We need to start naming streets and bridges after a historical figure whose legacy is honored eve ... More >>
Blogs
November 3, 2009
Ex-Judge Points a Finger at the State Attorney's Office in His Corruption Trial
If ever the Miami State Attorney's Office has prosecuted a lose-lose case, the ongoing trial of former judge Phil Davis is it. Getting a conviction might just make the prosecutor's office look negligent in its past dealings with the alleged fraud organizer.If Davis' sname sounds familiar, it's be ... More >>
Blogs
January 18, 2010
Miami New Times Swallowed Up By SF Rag? No Way. Reporter Greg Bensinger Screwed Up.
Just the other day, Bloomberg news published a turd-filled story about the future of our newspaper chain. In half English, half Portuguese Creole, the reporters said something about Village Voice Media being forced to bankruptcy court. A paper that's part of the chain, SF Weekly, lost a judgment ... More >>
News
March 25, 2010
Scott Rothstein's work as a Mafia informant might help him in his Ponzi case
Just the other day, Bloomberg news published a turd-filled story about the future of our newspaper chain. In half English, half Portuguese Creole, the reporters said something about Village Voice Media being forced to bankruptcy court. A paper that's part of the chain, SF Weekly, lost a judgment ... More >>
Calendar
March 25, 2010
Land of the Lost
Just the other day, Bloomberg news published a turd-filled story about the future of our newspaper chain. In half English, half Portuguese Creole, the reporters said something about Village Voice Media being forced to bankruptcy court. A paper that's part of the chain, SF Weekly, lost a judgment ... More >>
Blogs
April 21, 2010
Nevin K. Shapiro, Miami Beach Businessman, Accused of Running $900 Million Grocery Ponzi Scheme
via Budget Insight"Will that be paper or plastic?" Despite the fact Nevin K. Shapiro ran a grocery diverting business, when he was asking that he was most likely wondering how victims of his alleged $900 million ponzi scheme wanted to pay up. The SEC has charged Shapiro with running the sche ... More >>
Blogs
June 2, 2010
Jeweler Luis Felipe Perez Charged With Running $40 Million Ponzi Scheme by SEC
via Haute LivingSome of Perez's jewelry creations. Now he may find himself behind less precious metals. Luis Felipe Perez is just the latest South Florida man to see his Ponzi Scheme toppled. The SEC has charged Perez with running a $40 million Ponzi scheme that targeted the local Hispanic commun ... More >>
Blogs
June 10, 2010
Scott Rothstein Sentenced to 50 Years in Prison
Kim Rothstein and friend Stacie Weisman leaving the courthouse after the sentencing.Unless you've been under a rock for the past few months, you should know that South Florida got stuck with its own mini-Madoff who goes by the name of Scott Rothstein. Yesterday, Rothstein was sentence by U.S. Dis ... More >>
Blogs
June 17, 2010
Charges in Yet Another Ponzi Scheme Targeting South Florida Haitians
Miami-Dade Corrections2001 mugshot of Jean Fritz Montinard, now age 40, accused of orchestrating an $8 million Ponzi scheme.They are a hard-working immigrant group with virtually no financial wriggle room. Whatever money can be scrimped together is often sent to relatives still living in their im ... More >>
Blogs
July 2, 2010
Mafia-Connected Haitian Ponzi Schemer Michael J. Muzio Sentenced to 13.5 Years
Michael J. Muzio, one of four co-conspirators in a Ponzi scheme that targeted South Florida Haitian-Americans, has been sentenced to 163 months in federal prison. In April, New Times told you about the $14.3 million dollar scheme, which offered to double investors' cash in 90 days. Two of Muzio's ... More >>
Blogs
September 21, 2010
Convicted NBA Fraudster Rumeal Robinson Joins South Florida's Blown Fortune Hall of Fame
That blindfolded chick holding the scales just made it rain justice on Rumeal Robinson. The former University of Michigan basketball hero and NBA journeyman-- whose addiction to strip clubs was first exposed by this blog-- has been convicted in Iowa federal court of fraud. The Aventura resident was ... More >>
Blogs
September 24, 2010
Ponzi Schemer Who Did Business With Hialeah Mayor Julio Robaina Pleads Guilty
Proceeds from a $40 million ponzi scheme were used to buy Lladros just like this one.Yesterday, Luis Felipe Perez, a Hialeah jeweler who federal prosecutors say swindled $40 million from victims who invested in his Ponzi scheme, agreed to plead guilty to one count of securities fraud and one coun ... More >>
News
December 16, 2010
Nevin Shapiro: Miami's Caligula
Proceeds from a $40 million ponzi scheme were used to buy Lladros just like this one.Yesterday, Luis Felipe Perez, a Hialeah jeweler who federal prosecutors say swindled $40 million from victims who invested in his Ponzi scheme, agreed to plead guilty to one count of securities fraud and one coun ... More >>
Blogs
January 5, 2011
Nevin Shapiro's Sentencing Postponed Until Valentine's Day
photo by Tim ElfrinkShapiro's autographed UM helmet inside his palatial Miami Beach mansion.Nevin Shapiro, the South Beach architect of a $880 million Ponzi scheme, will have to endure another few weeks of Jersey lockup before learning his punishment. His sentencing, which was originally schedule ... More >>
Blogs
January 7, 2011
University of Miami Sued for $6.4 Million in Ponzi Scheme Funds
The University of Miami sure has a problem with getting caught up with Ponzi schemers. First, high profile athletic booster Nevin Shapiro was busted for a scheme, and now the university is being sued for its involvement in the alleged Ponzi scheme run by Allen Stanford. The suit claims that UM ke ... More >>
Blogs
February 3, 2011
Hialeah Man's $40 million Ponzi Scheme Nets More Arrests
Julio RobainaNine more individuals have been criminally charged in the ongoing federal investigation into a $40 million ponzi scheme in Hialeah. The arrests come in the wake of news reports that the FBI and the Internal Revenue Service are investigating Hialeah Mayor Julio Robaina for alleged loa ... More >>
Blogs
March 17, 2011
Barry Minkow, Ex-Ponzi Schemer and Minister, To Plead Guilty To Insider Trading
via LA WeeklyBarry MinkowBarry Minkow's life could have been an American archetype: A seemingly successful young entrepreneur goes to prison for in fact running a Ponzi scheme, and then finds Jesus and dedicates his life to helping the feds sniff out other frauds.But like any good crook, Minkow j ... More >>
Blogs
March 30, 2011
Barry Minkow Pleads Guilty to Lennar Conspiracy
As expected former conman turned pastor turned corporate whistle-blower Barry Minkow has pleaded guilty to commit securities fraud. He was accused of purposefully trying to harm the business of Lennar, a home builder that is one of the largest companies head-quartered in Miami-Dade, by reporting ... More >>
Blogs
April 18, 2011
Marguerite Martial Jean Busted for $3.4 Million Ponzi Scheme that Targeted Haitian-American Church Goers
Given the high profile cases of Bernie Madoff, Scott Rothstein and Allen Stanford, the image of a Ponzi schemer is usually that of some rich white guy with a cigar hanging out of his mouth praying on already well-off investors, but not all schemers fit that bill. Marguerite Martial Jean, a 38-yea ... More >>
Blogs
April 19, 2011
Marguerite Jean, Alleged Ponzi Schemer, Fleeced Her Own Pastor Out of $70,000
Marguerite Martial Jean, accused of running a $3.4 million Ponzi scheme that targeted her fellow Seventh Day AdventistsSeventh Day Adventist? More like Seventh Day A-hole.According to investigators, Marguerite Martial Jean ran a $3.4 million Ponzi scheme targeting nearly 300 of her fellow Haitian ... More >>
Blogs
April 29, 2011
Attorney Theodore Dempster Disbarred for Running Ponzi-Like Scheme
Theodore Ross Dempster, a relatively little-known attorney in Miami, has been disbarred after allegations he ran a racket similar to a Ponzi scheme. Dempster is alleged to have set up a company purportedly involved in real estate development in Georgia, and collected hundreds of thousands of doll ... More >>
Blogs
June 8, 2011
Miami Beach Ponzi Schemer Nevin Shaprio Gets 20 Years in Jail
Nevin Shapiro lived like a modern-day Caligula. He seemed to have it all: a luxurious Miami Beach mansion on the bay, parties that attracted local notables and sports superstars, fast cars, big yacht, women and the athlete's lounge at the University of Miami named after him. It all came tumbling ... More >>
Blogs
August 15, 2011
NCAA to Investigate Claims That Miami Hurricanes Players Took Cash From Convicted Ponzi Schemer
A signed helmet that was once on display at Shapiro's $6 million Miami Beach mansion. Last year, New Times chronicled the rise and fall of flashy Miami Beach Ponzi schemer Nevin Shapiro. The man who had donated more than $150,000 to the University of Miami football program now sits in jail ... More >>
Blogs
August 17, 2011
Nevin Shapiro: Who Is This Ponzi Dirtbag Exploding Canes Football?
photo by Tim ElfrinkThe view from Shapiro's pool.So Yahoo Sports dropped an ass-seeking clusterbomb all over The U last night with a mammoth expose on Nevin Shapiro's (allegedly) hooker-buying, yacht-lending, abortion-providing services for Hurricanes athletes. Their story doesn't spend much spac ... More >>
Blogs
August 17, 2011
Dan Wetzel Talks Nevin Shapiro With Michael Irvin
via Yahoo SportsEx-UM standout tight end Kellen Winslow Jr. balling with Nevin Shapiro.During the early segment of 560 WQAM's Michael Irvin show, Yahoo Sports investigative reporter Dan Wetzel gave his take on convicted Ponzi schemer and former University of Miami athletic booster Nevin Shapiro, who ... More >>
News
September 1, 2011
Nevin Shapiro's pal Donald DeLucca named Golden Beach Police chief
via Yahoo SportsEx-UM standout tight end Kellen Winslow Jr. balling with Nevin Shapiro.During the early segment of 560 WQAM's Michael Irvin show, Yahoo Sports investigative reporter Dan Wetzel gave his take on convicted Ponzi schemer and former University of Miami athletic booster Nevin Shapiro, who ... More >>
News
September 15, 2011
MBPD Chief Carlos Noriega erupts at resident's questions about Nevin Shapiro
via Yahoo SportsEx-UM standout tight end Kellen Winslow Jr. balling with Nevin Shapiro.During the early segment of 560 WQAM's Michael Irvin show, Yahoo Sports investigative reporter Dan Wetzel gave his take on convicted Ponzi schemer and former University of Miami athletic booster Nevin Shapiro, who ... More >>
Blogs
September 20, 2011
Luther Campbell Sues Nevin Shapiro
Don't call him "Lil Luke."Uncle Luke is going after the convicted Ponzi schemer who proclaimed himself "Lil Luke." Today, Luther Campbell followed through on his promise to sue Nevin Shapiro for defamation.In Yahoo! Sports' investigative report on rampant booster violations he committed at the Un ... More >>
Blogs
September 30, 2011
Oscar Hernandez Charged In $3 Million Miami Ponzi Scheme
South Florida, where Ponzi scheme convictions are as common as jaywalking tickets. The latest Miami man at the center of a collapsed phony empire is Oscar Hernandez. While relatively small compared to other cases, Hernandez's $3 million scheme operated in classic Ponzi scheme.
News
December 29, 2011
Miami's Dirty Dozen 2011
View the Miami New Times Dirty Dozen 2011 slide show.
Blogs
January 4, 2012
Gaston Canten Pleads Guilty to $135 Million Miami Ponzi Scheme
Gaston Canten, a prominent Cuban-American businessman who used his ties in the community to bilk victims out of their hard earned money, has officially been charged and has agreed to plead guilty to his part in running a $135 million Ponzi scheme. Canten's scheme went so far that even Belen Jesuit S ... More >>

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