"Framingham man charged with $29m swindle; Similarities seen to Madoff scheme" by Steven Syre, Globe Staff | January 6, 2010
A Framingham man with a taste for Las Vegas casinos was arrested yesterday and charged with fraud for allegedly bilking investors out of as much as $29 million in a Ponzi-like scheme that has overtones of the Bernard Madoff scandal.
Richard Elkinson, 76, was arrested by FBI agents in Mississippi and charged with mail fraud in an alleged scam that regulators described as an “affinity’’ scheme, in which investors are recruited through their social networks. As in the Madoff case, many of Elkinson’s alleged victims appear to have been older Jewish investors with country club ties.
Ripping off your own, huh?
Regulators said many knew each other through the Belmont Country Club....
Though significantly smaller in scale, Elkinson’s alleged scam has striking parallels to Madoff’s. Madoff also attracted older Jewish investors....
Also see: The Russian-Israeli Mafia: Off-limits to FBI, US intelligence
Madoff, Mossad and the AmeriKan MSM
Boston Globe Protecting Jewish Mafia
Madoff Makes the Big House
See how the Zionist MSM of AmeriKa never really tells you anything?
I expect the same here.
Elkinson allegedly used “finders’’ such as Jay Fialkow of RossFialkow Capital Partners to steer investors to him, in exchange for a 2 percent fee. Fialkow said he had nearly $1 million of his own money invested with Elkinson, and family members invested another $400,000, according to the FBI affidavit.... Fialkow has 48 years of financial experience, according to his firm’s website. He served as the chairman of a committee appointed by former governor William Weld to study privatization of state services. Fialkow once served as the chairman of the endowment and campaign committees of Combined Jewish Philanthropies, among other civic activities listed on the company’s website.
--more--"
You know what I am looking for, readers!
"Ponzi suspect had prior woes; His company, Northeast Sales, was bankrupt in ’92" by Steven Syre, Globe Staff | January 7, 2010
When FBI agents tracked down Framingham resident Richard Elkinson to arrest him on charges of allegedly running a $29 million Ponzi scheme, they found him at a casino in Mississippi and loaded with money, authorities said yesterday.
Of course, you know who is behind the gambling interests, right?
These and other details about Elkinson’s gambling interests, as well as a prior bankruptcy filing, emerged yesterday, one day after he was arrested and charged with bilking 130 investors, many from Massachusetts, in a so-called affinity scheme that recruits clients from the same social networks.
Notice something missing in the next day's report, readers?
I mean, they cut and repaste so much, why the change?
Deborah Madden, an FBI spokeswoman in Jackson, Miss., said Elkinson was arrested without incident by two agents at a casino in Biloxi, while “in possession of a large amount of money.’’ Madden was unable to name the casino or say how much money Elkinson had on him, but said the agents seized the money....
WHY?
Can ONLY BE ONE REASON!!
One-Day Wonder: Israel's Organ Harvesting Operation
Boston Globe Can't See the New Jersey Shore
Boston Globe Censorship: Cutting Out a Kidney
Did you notice how quickly these abominable stories disappeared from the Zionist MSM?
The Elkinson case has echoes of the Bernard Madoff scandal.... In Elkinson’s case, the alleged victims include older Jewish investors, regulators said. Many of the investors had direct or indirect social ties to the Belmont Country Club.
Okay, so they DO MENTION it farther down BUT only after the TURN-IN (when many stop reading, figuring they will get to it later, then forgetting; newspapers know this just as they know about Slow Saturdays and all the rest).
Federal agents said they discovered Elkinson had been in Las Vegas but had checked out of a hotel on Dec. 22. Authorities said that casino records showed Elkinson had conducted $3.7 million in currency transactions over $10,000 since 1998, such as placing or collecting bets. Elkinson had previously told business acquaintances that he had $25,000 credit lines at three Las Vegas casinos, according to court documents. FBI officials said in court documents that Elkinson could have been operating an investment fraud for nearly 20 years. That would date back to about the time Elkinson filed for bankruptcy protection in US Bankruptcy Court in Boston....
Is this really telling us anything?
--more--"Maybe Slow Saturday will:
"SEC calls Elkinson’s promises ‘make-believe’; Civil charges say he swindled $28m from investors" by Beth Healy and Steven Syre, Globe Staff | January 9, 2010
Elkinson was arrested Tuesday by FBI agents at a casino in Biloxi, Miss., and is being held in the Pearl River County Jail awaiting a court appearance Monday. He was assigned a public defender after attesting that he couldn’t afford a lawyer.
They found him LOADED with CASH and they wouldn't tell us how much -- and now TAXPAYERS have to PAY for this s*** "ew's (who ripped off other *ews) LAWYER?!!!!!!
The SEC said three businessmen helped Elkinson woo investors over the years. The first was allegedly Richard Silverman, from 1997 to 2005. Then, starting in 2005, Jay L. Fialkow, a well-known retired Boston lawyer, and his business partner, Jeffrey P. Ross, “became actively involved in recruiting investors,’’ according to the SEC....
Yup, they ALL SOUND like a CERTAIN PERSUASION to me!!!
Related: U.S. Government Knew About Madoff Scheme Since 1960
So how long did they know about this one?--more--"
