Ponzi Victims Coalition

Welcome

Welcome to the Ponzi Victims Coalition website.

This is a site dedicated to the presentation of information about fraudulent "Ponzi" investment schemes, including those foisted on the investing public recently by Tom Petters and Bernard Madoff. The founders of the Ponzi Victims Coalition are dedicated to pursuing legislative and litigative actions to mitigate the devastating effects these schemes have had upon fundholders, pensioneers, stockholders, and all investors -- direct and indirect -- in these tainted investment instruments.

As a quick guide to this site, visit the Pages and Political Action tabs to find documents and other resources that you can use to become politically active, as well as contact information for your local U.S. Senators and Representatives, Congressional Committee members, and Executive Branch officials. Feel free to start a new discussion about your personal experiences or viewpoints on the Ponzi schemes in the Discussions tab. Or click on one of the Petters/Madoff news links at the bottom of this Home page to keep abreast of the latest news in these scandals.

And always remember to look at the Latest Activity section just below to see the new postings and information since your last visit.

Enter, and participate actively in this process!

Site Update

Now that Bernard Madoff has a new home and new attire, justice has been served and that's the final chapter of the story, right? Wrong! The tens of thousands of investors who were bilked by Madoff, Petters, Stanford, and others are still as impoverished -- in some cases penniless -- as ever. There still exists no legal recourse for indirect victims, and there can be no true recompense until there is.

Please continue to visit us here and help us to take action as we pursue our efforts for justice and restitution to be served -- fairly and equitably to all.

Latest Activity

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Kevin Allen Ake, CPA replied to Kevin Allen Ake, CPA's discussion 'Algrid Norkus - Sentencing'
Rescheduled until August 25, 2011 2:30pm
Jul 19, 2011
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Algrid Norkus - Sentencing

New Sentencing Date for Algird Norkus: July 15The original sentencing date of June 23 for ponzi schemer Algird Norkus has been canceled. The new sentencing date is July 15, 2011 at 02:30 PM at Courtroom 220, at the U.S. Courthouse, 211 South Court St., Rockford, IL 61101 before Judge Frederick Kapala. I will be there with many of our clients/victims. While the Judge is free to impose a…See More
Discussion posted by Kevin Allen Ake, CPA Jun 27, 2011
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Howard Rosenfield and Richard Lienesch joined Ponzi Victims Coalition Mar 19, 2011
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Janet Bland is now a member of Ponzi Victims Coalition Mar 4, 2011
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Clancy Ellebracht is now a member of Ponzi Victims Coalition Mar 2, 2011
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IRA Loss Treatment - Help Requested

I got stung in the Draseena ponzi, for both after-tax and IRA money.  Rev Rul 2009-9 gives specific treatment of after-tax losses, but nothing deals with how to deduct IRA losses.Has anyone solved this dilemma?Thanks!See More
Discussion posted by Edward Hill Mar 1, 2011
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Donald Atkinson is now a member of Ponzi Victims Coalition Feb 15, 2011
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Status posted by Kevin Allen Ake, CPA Feb 9, 2011

Forum

Kevin Allen Ake, CPA

Algrid Norkus - Sentencing 1 Reply

Started by Kevin Allen Ake, CPA. Last reply by Kevin Allen Ake, CPA Jul 19, 2011.

Edward Hill

IRA Loss Treatment - Help Requested

Started by Edward Hill Mar 1, 2011.

Wendy Lawrence

Clawback - help required urgently please 3 Replies

Started by Wendy Lawrence. Last reply by Kevin Allen Ake, CPA Feb 7, 2011.

Kevin Allen Ake, CPA

Rev Proc 2009-52

Started by Kevin Allen Ake, CPA Jan 10, 2011.

Suzanne

Mobilize Continued

Started by Suzanne Sep 18, 2010.

Bernard Madoff links from the news

The Am Law 100, the Early Numbers: Madoff Work Helps Boost Baker & Hostetler ... - The American Lawyer


The Am Law 100, the Early Numbers: Madoff Work Helps Boost Baker & Hostetler ...
The American Lawyer
Buoyed by its work on the Bernard Madoff liquidation proceedings, Baker & Hostetler saw its gross revenue jump 14 percent last year to $440 million, while profits per equity partner increased 11 percent to $845000, according to The American Lawyer's ...

Gupta, JPMorgan, Goldman, Stanford, Carnival in Court News - BusinessWeek


New York Times

Gupta, JPMorgan, Goldman, Stanford, Carnival in Court News
BusinessWeek
The New York Mets' owners asked a judge to dismiss $386 million in remaining claims brought by the trustee liquidating Bernard Madoff's firm, saying their “early faith” in Madoff was well-founded because of his reputation. US District Judge Jed Rakoff ...
Gupta, JPMorgan, Madoff, Stanford, Carnival in Court News

Madoff case: US asks court to OK $7.2 billion Picower deal - Sun-Sentinel


Madoff case: US asks court to OK $7.2 billion Picower deal
Sun-Sentinel
The US asked a federal appeals court to affirm a $7.2 billion forfeiture by the Jeffry Picower estate, to be used to compensate investors who lost money in Bernard Madoff's Ponzi scheme. A challenge by Adele Fox was "frivolous," and it wouldn't serve ...

Attorney for NYPD boss' son has record of handling prominent cases without ... - Washington Post


Attorney for NYPD boss' son has record of handling prominent cases without ...
Washington Post
Andrew M. Lankler has represented people ranging from Bernard Madoff's auditor to the owner of a construction crane that collapsed and killed two people. But look Lankler up in news archives, and the words that often follow his name are “declined to ...

Expert Witnesses Faulted in Suit Against Mets' Owners - New York Times


Newsday

Expert Witnesses Faulted in Suit Against Mets' Owners
New York Times
Lawyers for the victims of Bernard L. Madoff have accused the Mets' owners of enriching themselves with illegitimate profits from his Ponzi scheme. The owners, in turn, have called the lawyers shakedown artists bent on ruining their good reputations to ...
Firestorm threatens to engulf Mets
Picard seeks $83M payback from Mets owners

Tom Petters links from the news

Petters largesse follows politicians - Minneapolis Star Tribune


Petters largesse follows politicians
Minneapolis Star Tribune
There's a new target in the attempt to recover ill-gotten gains from the Tom Petters Ponzi scheme -- politicians. After recouping phantom profits paid to investors and donations made to nonprofits, bankruptcy trustees and receivers have turned their ...

Stillwater Township resident Karl Bremer reaches settlement with New Republic ... - Pioneer Press


Stillwater Township resident Karl Bremer reaches settlement with New Republic ...
Pioneer Press
Vennes was a fundraiser for Tom Petters, bringing investors and their cash to Petters' Minnetonka-based business, which supposedly was buying and selling large quantities of consumer goods but was actually a multibillion-dollar Ponzi scheme.

Minnesota company wants the US to build TVs again - Minneapolis / St. Paul Business Journal


Minnesota company wants the US to build TVs again
Minneapolis / St. Paul Business Journal
The report has some great details on the history of Element, which nearly folded when Circuit City went under, and O'Shaughnessy, who worked at Polaroid Corp. when Tom Petters owned it and is currently being targeted by the Petters bankruptcy trustee ...

Petters to Appeal to US Supreme Court - Twin Cities Business (blog)


Petters to Appeal to US Supreme Court
Twin Cities Business (blog)
Former businessman Tom Petters—who's behind bars for orchestrating a $3.65 billion Ponzi scheme that left hundreds of victims in its wake—is appealing his conviction to the US Supreme Court, according to the Pioneer Press.

TV maker to hire 100 workers at Canton plant - Detroit Free Press


TV maker to hire 100 workers at Canton plant
Detroit Free Press
O'Shaughnessy, who grew up in Warren, Ohio, is a former CEO of Polaroid, when it was owned by Petters Group Worldwide. In 2009, Tom Petters, the former CEO of Petters Group, was convicted of fraud for orchestrating a massive Ponzi scheme and sentenced ...

 
 
 

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