Results tagged “ponzischeme”

Bloomberg is reporting that Regal Financial Bank, headquartered at the 4th and Madison Tower, is being "sued by a group of more than 4,000 Indonesian investors over accusations it helped operate a $600 million Ponzi scheme." The suit alleges that Regal Financial Bank President Jesse Tam and an advisory board member, Danny Wong, assisted in soliciting funds for an investment company, but that the funds were used to pay previous investors, while Tam "Madoff" with some of the funds for Regal. Regal says the allegations are "baseless," says the PSBJ.

Our Boston siblings brought our attention to yet another oddity in the Seattle Sonics saga. From our own paper, mind you:

"For months, a Boston-area woman thought she was dating a Sonics front-office employee and former NBA player named Jeff Turner, a handsome, 6-foot-8 40-something who was polite, compassionate and respectful."

But, of course, it was a flim flam and the aptly named Ronnie Craven was revealed to be neither Jeff Turner nor a Sonics employee. He was just some guy from a place still called "Slummerville" by the snootier denizens of Boston proper.