According to allegations by the FBI, Matthew Piercey of Shasta County, California operated a Ponzi scheme through his companies, Family Wealth Legacy and Zolla Fund. When agents went to arrest Piercey, he fled in his truck, with a plan to escape into the frigid waters of Lake Shasta. Unfortunately for Piercey, his plan was foiled…

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In October 2020, a judge sentenced former financial adviser Leon Vaccarelli of Waterbury, Connecticut to seven-and-a-half years in federal prison. This followed a trial in 2018, when a jury determined that Vaccarelli had committed a total of 21 federal crimes, including money laundering and securities fraud. According to the prosecution, Vaccarelli stole money from investors…

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Publicly available records published by the Securities and Exchange Commission (SEC) and accessed on April 4, 2019 indicate that the SEC has filed charges against California-based investment adviser Carol Pedersen in connection with allegations she stole “millions of dollars from investors to perpetrate a Ponzi scheme.” Ms. Pedersen has accepted the entry of a judgment…

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Publicly available records provided by the Department of Justice and accessed on April 3, 2019 indicate that Mark Blankespoor of Pella, Iowa has been charged by the US Attorney’s Office for the Southern District of Iowa with mail fraud (twelve counts) and wire fraud (twelve counts). He will be tried on June 3, 2019 in…

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The Securities and Exchange Commission announced on March 12, 2019 that it had filed charges against William “Doc” Gallagher, who described himself as the “Money Doctor” in his appearances on Dallas, Texas-area radio shows, in connection to allegations that he orchestrated a $19.6 million Ponzi scheme targeting the retirement funds of elderly investors. The SEC…

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