My Local Madoff

Started by stoker, December 17, 2009, 10:48:30 PM

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stoker

December 17, 2009, 10:48:30 PM
Federal authorities today arrested a Honeoye Falls businessman, accusing him of a Ponzi scheme in which he bilked individuals who'd invested almost $35 million in his oil and gas drilling businesses.
Arrested was Ashvin Zaveri, who enticed investors into a proposition to drill for oil and natural gas in Kentucky and Tennessee.
Ashvin Zaveri of Honeoye Falls accused of $35M Ponzi schemeZaveri, who owns Zaveri Oil & Gas Ltd., is charged with 12 counts of mail fraud, three counts of wire fraud, and a single count of money-laundering.
The allegations against Zaveri, 71, could rank as one of the largest fraud cases in western New York.
The FBI and the Internal Revenue Service have been investigating Zaveri for at least a year, records show.
Zaveri, 71, pleaded not guilty today before U.S. District Judge Charles Siragusa. He will surrender his passport and has posted a Pittsford home in which a family member lives for bond.
Authorities allege that Zaveri began to pay past investors with the proceeds he garnered from new investors, said Assistant U.S. Attorney Bradley Tyler.
Zaveri lured investors to give money to almost 24 different oil and gas exploration partnerships, Tyler said. Authorities would not say how many investors allegedly lost money.
In May authorities seized records from Zaveri's home and business, records show.
"Thirteen investors have been interviewed to date, who have identified other investors, believed to be victims of Zaveri's scheme to defraud," FBI Special Agent Eric Hanson wrote in a May 19 affidavit for the search warrant.

Ognir

#1
December 18, 2009, 06:00:36 AM
Damn another Catholic Ponzi scheme,  do these people ever stop :lol:
Most zionists don't believe that God exists, but they do believe he promised them Palestine

- Ilan Pappe

stoker

#2
December 18, 2009, 07:17:46 AM
Og ,I did not even look into the Catholic  thief angle. I just knew it was the usual suspects.


BTY did u catch Pipers show last night with Trafficant?

Ognir

#3
December 18, 2009, 07:54:47 AM
No missed the show

Where is Scottie?
Would like to hear it
Most zionists don't believe that God exists, but they do believe he promised them Palestine

- Ilan Pappe

CrackSmokeRepublican

#4
December 18, 2009, 08:55:17 PM
Isn't Trafficant going to write for AFP these days as a guest columnist?  I heard something to that effect on MRJ's VOR show.
After the Revolution of 1905, the Czar had prudently prepared for further outbreaks by transferring some $400 million in cash to the New York banks, Chase, National City, Guaranty Trust, J.P.Morgan Co., and Hanover Trust. In 1914, these same banks bought the controlling number of shares in the newly organized Federal Reserve Bank of New York, paying for the stock with the Czar\'s sequestered funds. In November 1917,  Red Guards drove a truck to the Imperial Bank and removed the Romanoff gold and jewels. The gold was later shipped directly to Kuhn, Loeb Co. in New York.-- Curse of Canaan
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