Kenneth Rijock

Kenneth Rijock

Sunday, August 7, 2016

US GOES AFTER PONZI SCHEMER'S ATTORNEY'S HOME FOR RESTITUTION

The Ziegler home
Stephen Ziegler was the primary securities regulatory counsel for Mutual Benefits Corp., the largest life settlements company in the United States, until it was shut down, due to it being a massive Ponzi scheme. Ziegler, who was aware of MBCs misuse of investor funds, helped conceal the fraud, falsified documents in connection with the purchase and assignment of group insurance policies, and filed false reports with state regulators.

The lawyer was sentenced to five years imprisonment, for conspiracy to commit securities fraud, which was later reduced by the Court. He was also ordered, together with his co-conspirators, to pay Restitution, in the amount of $ 826,839,642, which was, at that time, the Government's calculation of investor losses, which was later reduced to a Criminal Restitution Judgment Lien.

After serving his sentence, Ziegler paid a total of $194,105.99 towards the lien, but thereafter failed or refused to pay any additional amount, and the US Attorney filed a Complaint* to Foreclose his Hollywood, Florida home, on July 27, 2016. he and his wife will now probably lose their residence.

Lawyers who learn that a client is engaging in a Ponzi scheme, and who do not immediately withdraw from representing that client, but continue to advise him, run the risk of being ordered to make restitution of the losses, along with all the other co-conspirators. In  this case, it was found that the attorney was an active participant, but whenever one discovers a Ponzi scheme, it is vital to disengage forthwith, and seek the advice of a qualified attorney, to have your situation thoroughly assessed. You may wish to report the Ponzi, and possibly seek immunity from prosecution.
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*United States of America vs. Stephen Ziegler, et al, Case No.16-cv-61795-BB (SD FL). 

1 comment:

  1. The criminal proceeds obtained in the original million dollar Ponzi scheme of Murcia, was inflated to approximately three billion US Dollars ($3bn), when, according to wtinesses, narco-profits, earned by the FARC, were laundered through DMG, with David Murcia's cooperation. Most of that currency was then bulk cash smuggled into Panama using his Panama Sailing School sailboats, and speedboats, arriving at night at Monte Friesner's Flamenco Marina, on the Amador Causeway.

    Delivered, while sometimes still damp from the ocean, to Murcia laundryman, Monte Morris Friesner, the funds were used to purchase, for cash, condominium residences in such places as various condos of Panama City Real Estate, using bearer share Panama corporations, to conceal the name of the beneficial owner. Friesner acted as Murcia's investment counselor, though most of the money allegedly was the property of the FARC. Murcia, serving time in the US, is believed to be cooperating with law enforcement and Friesner is scared shitless.

    When Murcia was summarily deported, allegedly on the orders of Monte Frieser, Rijock, and Nazarova, all of these partners took possession of the Panama Real Estate, and other properties, though we now wonder if the FARC, which is presently formalizing a comprehensive peace treaty with Colombia, will be making a formal (or informal) claim against Frisener, and against all that stolen real estate, in Panama. This may be why Monte Friesner maintains several layers of security at his offices and home in Canada.

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