Monday, August 28, 2017


Ponzi schemes continue to take their toll of even minor participants, even years after the head Ponzi has gone off to prison. Case in point: Lorie Ann Williams, the wife of a major "fundraiser" for Miami Ponzi schemer Nevin Shapiro's* bogus grocery purchasing fraud, served a year & a day in Federal Prison. Her husband transferred funds to her account, after suits were filed against him.

Mrs. Williams then made thirty five structured (exactly $9500 each) withdrawals from her account, totaling $332,500, and thereafter filed bankruptcy. After all these years, who doesn't know that any activity close to the $10,000 reporting threshold is bound to trigger a SAR ? Her husband reportedly went with her to withdraw the money, and he was allegedly a financial advisor. Mrs. Williams stated that they needed the money to live on; over three hundred thousand dollars in as many months ? You have to love anyone involved in Ponzi scheme operations, they let absolute greed totally cloud their actions.
* We have previously reported, in depth, on Mr. Shapiro's classic Ponzi scheme, which also corrupted the athletic program at the University of Miami, through illegal compensation paid by Shapiro.

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