SEC Files Suit Saying Investment Firm Falsely Claimed Relationship to Warren Buffett

The Securities and Exchange Commission (SEC) obtained a court order freezing the assets of an investment firm fraudulently claiming that Warren Buffett, the well known billionaire investor, was the firm’s honorary chairman, according to the Los Angeles Times.  It is alleged that International Realty Holdings Inc. (IRH), of Palmdale, California, and its operators, Leticia Isabel…

The Commodities Futures Trading Commission (CFTC) Allowed Ponzimonium To Happen

In a telephone conference today, Bart Chilton, the commissioner of the Washington-based Commodity Futures Trading Commission (CFTC) referred to the recent discovery of unprecedented numbers of ponzi schemes as “rampant Ponzimonium.” According to a Reuters article published today, Mr. Childers was making a play on the word “Lollapalooza,” a popular music festival. In that article, Mr. Chilton was…