HedgeTracker Hall of Fraud

The HedgeTracker Hall of Fraud list was created to keep track of the incredible number of alleged frauds and ponzi schemes that have been uncovered recently in the financial industry. While the major news agencies have been focusing heavily on the infamous schemes of Bernie Madoff and R. Allen Stanford, there are numerous other alleged perpetrators whose deeds have not received the attention they deserve.

Notably, the list includes innocent individuals who are facing charges, those who have reached agreements without admitting guilt, as well as those who have been pronounced guilty in a court of law.


Alleged Fraud
Institution Name The Accused Date Amt ($MM)*
Madoff Investments LLCBernard MadoffDecember 2008 64,800
Stanford Financial GroupR. Allen StanfordFebruary 2009 8,000
Petters Group WorldwideTom PettersSeptember 2008 3,500
Frankel International & Frankel Che...Barry TannenbaumJune 2009 1,200
Satyam Computer ServicesRamalinga RajuJanuary 2009 1,000
Westgate Capital Management, LLCJames NicholsonFebruary 2009 900
Capitol Investments USA, IncNevin K. ShapiroApril 2010 900
Dreier LLPMarc DreierDecember 2008 700
WG Trading CoSteven Walsh & Paul GreenwoodFebruary 2009 554
Weavering CapitalMagnus PetersonMarch 2009 500
Provident Royalties LLCPaul R. Melbye, Brendan Coughlin, H...July 2009 485
Bayou CapitalSamuel IsraelJune 2008 450
Manhattan Capital ManagementMichael BergerJanuary 2000 393
Lake Shore Asset Management LtdPhilip J. BakerJune, 2007 312
Beacon Hill Asset ManagementMessrs Barry, Daniels, Irwin and Mi...November 2002 300
Philadelphia Alternative Asset Mana...Paul EustaceMay 2005 300
Scoop ManagementArthur NadelJanuary 2009 300
Investors Overseas Service, Ltd.Robert VescoJanuary 1972 224
Diversified Lending Group, IncBruce FriedmanMarch 2008 216
Lancer GroupMichael Lauer et al.July 2003 200
K.L. Group, LLCJohn & Yung Kim, Won Sok LeeMarch 2005 195
International Management Associates...Kirk WrightFebruary 2006 150
McGinn, Smith & CoTimothy M. McGinn & David L. SmithApril 2010 120
Portus Alternative Asset Management...Boaz Manor & Michael MendelsonMarch 2005 95
Vaughan Company RealtorsDouglas F. VaughanMarch 2010 80
SNC Asset Management, Inc.Peter C. Son & Jin K. ChungJune 2009 80
Canopy FinancialJeremy J. BlackburnDecember 2009 75
E-M ManagementFrank BluesteinSeptember 2009 75
Oversea Chinese FundWeizhen TangApril 2009 75
Millennium BankWilliam Wise & Kristi HoegelMarch 2009 68
Parish Economics LLCAl ParishApril 2007 66
Essex Street AssociatesJack DoorlyMarch 2006 60
Bottom Line of South FloridaAndres Leonel PimsteinOctober 2008 50
Bravata Financial Group & BBC Equit...John J. Bravata & Richard J. Trabul...July 2009 50
Global Money Mgmt / LF GlobalMarvin Friedman & Paul Henrie LevyMarch 2004 49
Gemini Fund I, L.P. & DISP LLCEdward T. SteinApril 2009 46
RCS Hedge FundRod Cameron StringerJanuary 2009 45
Trigon Group, IncDaren L. PalmerFebruary 2009 40
Leverage GroupPhilip G. BarrySeptember 2009 40
Lucky Star DiamondsLuis Felipe PerezJune 2010 40
Equity Investment Mgmt and TradingAnthony Vassallo & Kenneth Kenitzer...March 2009 40
Money Market Alternative LPEnrique F. Villalba, Jr.April 2010 39
Ruderman Capital PartnersBradley L. RudermanApril 2009 38
Hulaman Mgmt / Global DominionCharles Nolon BushJuly 2002 35
Joshua Tree GroupNeulan MidkiffDecember 2006 30
Ponta Negra GroupFrancesco RuscianoApril 2009 30
Speed of Wealth, Mantria CorpWayde and Donna McKelvyNovember 2009 30
City Limits Inc / Cal ProductionsMessrs Rosepink, Galyon, Olsen & No...February 2006 26
CRE Capital CorporationJames OssieJanuary 2009 25
Acorn Capital Management, LLCDonald Anthony Walker YoungApril 2009 23
Maximum Return Investments IncClelia A. FloresApril 2009 23
3001 ADJimmy L. Barker, Robert J. Ladrach,...October 2009 20
North Hills Management LLCMark BloomFebruary 2009 20
Market Street AdvisorsShawn R. MerrimanApril 2009 20
A.R. Capital Group Inc.Daniel Ledven, Alan Fishman, Gary G...September 2006 20
Benchmark Asset ManagementMarc DuchesneMarch 2009 20
PrivateFX Global One LtdRobert D. Watson & Daniel J. Petros...May 2009 19
Regan & CompanyMichael C. ReganJune 2009 16
Mitchell, Porter & Williams, Inc.Thomas L. MitchellMarch 2010 15
Axxium MortgageEdward McCusker, John Alford Barian...December 2009 15
Sand Dollar Investing Partners LLCSean Nathan HealyJully 2009 15
Brixon GroupJoseph Wayne McCoolFebruary, 2004 14
Advanced Money Management, Business...Moises PachecoJune 2009 14
HomePalsRonnie Eugene Bass, Jr., Abner Alab...October 2009 14
Entrust Capital Management, IncAmit MathurSeptember 2005 13
Jadis Capital, IncMessrs Ovid, Riddle, Coleman, Cina....April 2009 12
YES Entertainment NetworkJames EberhartNovember 2002 11
Finvest Asset Management LLCGrant “Gad” GrieveFebruary 2009 11
CRW ManagementRay M. WhiteMarch 2009 11
Next Step Financial ServicesDavid J. HernandezJune 2009 11
Rockford Funding Group LLCGenadi YagodayevDecember 2009 11
Elucido Fund LP & Maize Fund LPScott M. RossFebruary 2009 10
Quest Resource CorpJerry Cash & David GroseJune 2009 10
Paramount Partners / Crossroad Capi...John W. LawtonNovember 2009 10
Heritage Wealth Management IncMarcus SchrenkerJanuary 2009 9
River Stream FundMichael C. ReganMay 2008 9
Dime Financial Group LLCJohn H. MinMarch 2009 9
HMC InternationalBret GrebowDecember 2005 8
McCready & AssociatesMichael E. McCreadyOctober 2009 8
Park Avenue BankCharles J. Antonucci Sr.March 2010 7
First National Bancorp SecuritiesRobert TringhamApril 2009 7
Lodge Diversified Fund LPJay NolanNovember 2009 6
Delphi AssociatesSean David MortonMarch 2010 6
Patrollers Capital FundsFrank S. MaroneJanuary 2004 5
EPG Limited PartnersAnthony GiordanoFebruary 2004 5
Asenqua Capital & FiresideAlbert K. HuMarch 2009 5
Global Holdings LLCM. Mark McAdams, R. Dane FreemanMarch 2010 4
Lydia Capital LLCGlenn ManterfieldApril 2007 3
Georgia IonicsGary S. Hutcheson & Saundra McKinne...October 2008 2
Billion Coupons, Inc. (BCI)Marvin R. CooperFebruary 2009 1
Total87,498

*Estimated Value of alleged fraud/investor losses. While HedgeTracker.com makes a reasonable effort to verify each entry by using credible sources, such as the Securities & Exchange Commission and the U.S. Commodity Futures Trading Commission, the website cannot be held liable for erroneous entries.