Alleged Ponzi scheme exonerated

2016-02-05 07:55

Alleged pyramid scheme DiPESA has been exonerated by the National Consumer Commission after an investigation showed that the business is “legitimate”.

To Biznews Community: Is high pressure seller Holborn AM legit or a scam?

2015-10-16 07:17

Holborn Asset Management seems to be fishing quite aggressively for business in SA but is it above board? Alec Hogg invites comment.

Belvedere collapses after Ponzi scheme exposé

2015-10-08 13:30

Cobus Kellermann’s Belvedere Management has collapsed, six months after being exposed for a Ponzi scheme.

Beware of get-rich-quick-schemes

2015-09-22 09:26

Investment schemes being investigated by the National Consumer Commission for possible fraud are pulling out all the stops to recruit more believers to their ranks.

Ponzi scheme alert as 9 businesses under scrutiny

2015-09-17 06:45

The National Consumer Commission is conducting an investigation into nine suspected pyramid schemes to establish if they are contravening the Consumer Protection Act.

Belvedere: WSJ exposes Cosgrove link to US’s most wanted financial criminal

2015-06-18 07:54

The Belvedere kingpins, Cobus Kellermann and David Cosgrove, have received another big smack with an expose’ in today’s Wall Street Journal, detailing close links between the duo’s Mauritius operation and the US’s most wanted financial criminal.

Another Belvedere limb severed as Cayman authorities take control of Brighton SPC

2015-06-03 14:42

After authorities took over Belvedere’s funds in Mauritius and Guernsey last month, its Cayman Islands operation suffered the same fate after a “forensic investigation” .

FSB warns on fake financial schemes

2015-05-28 11:38

The Financial Services Board has alerted the public to be wary of at least two firms which say they are registered financial services providers.

Ian Kilbride: Why the Belvedere Ponzi reminds me of Fidentia

2015-05-09 07:51

It is amazing to see how these SA born charlatans have made business more difficult – we are tarred by the dirty and rather creepy Belvedere brush.


Allen Stanford loses appeal of Ponzi scheme conviction

2015-10-30 10:45

A US appeals court has ejected Texas financier Robert Allen Stanford's bid to overturn his conviction and 110-year prison sentence for running an alleged $7.2bn Ponzi scheme.

Belvedere: How alleged Ponzi scheme collapsed

2015-10-09 07:56

Since Offshore Alert exposed the Belvedere Group as an alleged Ponzi scheme in March 2015, it has collapsed in many different jurisdictions, says David Marchant.

US Supreme Court rejects Madoff victims' appeal

2015-10-05 17:45

The US Supreme Court has declined to hear an appeal by victims of Bernie Madoff's multibillion-dollar Ponzi scheme.

Mailbox: Resisting too-good-to-be-true offers

2015-09-18 07:43

A 24-year-old Fin24 user tells how he survived three offers to join what he thought were pyramid schemes.

Pea shooters against cannon – Belvedere duo’s offensive pales against unravelling reality

2015-07-24 15:35

Alec Hogg looks at why the news flow has slowed since the sensational disclosures of the Belvedere duo.

Kellerman, Cosgrove say regulator erred

2015-06-11 16:45

David Cosgrove and Cobus Kellermann, fund managers under investigation by authorities in at least three jurisdictions, say the Guernsey regulator reached mistaken conclusions in an April affidavit.

Ex-Madoff auditor, employee co-operate to avoid jail

2015-05-29 16:51

A former outside auditor and a former human resources employee of Bernard Madoff's firm have avoided jail by co-operating with authorities investigating a Ponzi scheme.

Six red flags of a money scam

2015-05-27 18:00

There are warning signs of a Ponzi or pyramid scam and consumers should treat any offer of an above market return on investment with suspicion, says an expert.

Ex-Madoff aide key witness dies before sentencing

2015-05-12 16:35

Frank DiPascali, Bernard Madoff's deputy and a key witness in the US criminal trial to spill out of the collapse of his multibillion-dollar Ponzi scheme, has died.

Belvedere: The back story, with links to Biznews coverage of the saga

2015-05-06 15:55

Now comes a sad part when forensic investigators get inside the crumbling Belvedere empire, to borrow from Churchill, this is just the end of the beginning.

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