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- Former Henrico County Coach Sentenced in Sex Abuse Case
Posted on 2/21/2010 - Stepfather Charged in Shooting Death of Chesterfield Teen
Posted on 2/3/2010 - Missing Tech Student's Death Ruled Homicide
Posted on 2/3/2010
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Felony (Larceny /Malicious wounding)
Successful Defense of Malicious Wounding Charges in Virginia Requires the Skills of an Attorney With a Proven Track Record of Successfully Representing Clients Against Malicous Wounding Charges
In additon to the usual reasons that teens should be educated about the consequences of sexual activity, parents need to know and explain to their children that sexual activity with persons under a certain age are illegal, and can lead to severe, lifelong consequences.
Judge Accepts Jury Recommendation on Sentence for Shooting of Richmond Man
Firm News
Man Pleads Guilty to Ponzi Scheme
Posted on Jan 05, 2010
A "Ponzi" or "Pyramid" scheme is one that entices people to "invest" in a financial venture with expectations or promises of higher returns than the amount invested. In reality, those returns are funded by contributions made by recent investors.
When the pool of investors is less than necessary to pay off the earlier investors, the scheme usually crumbles because more money is going out than coming in and people who invested later, lose their money instead of making more of it.
This is what has happened to Social Security for instance, and that is why you read and hear on the news that Social Secutrity is -- or will soon be -- BROKE.
Although the federal government runs the world's largest Ponzi game -- Social Security -- for good reason it is illegal in every state for private citizens to operate one. It is a violation of federal fraud laws to run a Ponzi or Pyramid scheme by mail or telecommunication, or across state lines. This is what happened to a South Carolina man who undertook to make a buck like the guys in Washington do.
Oren Eugene Sullivan, age 63, of Rock Hill, South Carolina, pled guilty in federal court to mail fraud in connection with his operation of a Ponzi scheme. Senior United States District Judge Matthew J. Perry accepted the plea and will sentence Sullivan at a later date.
Sullivan admitted that from 1995 through 2008, he ran the Ponzi scheme in which he sold false investments to 35 different individuals or groups of investors. Sullivan told clients that he was managing their investment accounts, and paid small dividends to his investors. However, he was actually converting their invested money for his own use, and paying the dividends with money he received from new investors. Over the course of the scheme, Sullivan took in approximately $2.5 million dollars from unwitting investors.
Sullivan’s scheme was detected by an investor, who reported him to authorities.
The maximum penalty is a fine of $250,000 and imprisonment for 20 years.
This case was investigated by the Federal Bureau of Investigation.
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Mr. Stelly regularly appears in the courts of the City of Richmond, Henrico County, Chesterfield County, Goochland County, and Hanover County.
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