Search results
- According to the Commission's complaint, from at least February 1995 to the present, Forte has been operating a Ponzi scheme in which he fraudulently obtained approximately $50 million from as many as 80 investors through the sale of securities in the form of limited partnership interests in Forte L.P. Forte was the general partner of Forte L.P.
www.sec.gov › litigation › litreleases
PHILADELPHIA—Joseph S. Forte, 54, of Broomall, PA, was sentenced today to 15 years in prison for wire fraud, mail fraud, bank fraud, and money laundering in connection with a multi-million...
Mar 31, 2010 · PHILADELPHIA (CN) – The receiver for a $78 million Ponzi scheme filed six federal complaints this week to recoup money from “winning investors” who got payouts before Joseph Forte’s scam collapsed. Like Bernie Madoff, Forte, who was sentenced to 15 years in prison, never reported a losing quarter no matter how the market performed. Joseph
Nov 25, 2009 · Morgan said he thought Forte, who earned $10,280 as a self-employed computer salesman the year before he started the fund in 1995 and topped out at $1.5 million 10 years later, deserved 50 years in prison. Madoff was sentenced to 150 years for defrauding thousands of investors of $21 billion.
Nov 24, 2009 · A Philadelphia-area fund manager was sentenced Tuesday to 15 years in prison for running a Ponzi scheme that cost investors $35 million. U.S. District Judge Jan Dubois also ordered Joseph S....
- Staff Writer
Jan 8, 2009 · According to the Commission's complaint, from at least February 1995 to the present, Forte has been operating a Ponzi scheme in which he fraudulently obtained approximately $50 million from as many as 80 investors through the sale of securities in the form of limited partnership interests in Forte L.P. Forte was the general partner of Forte L.P.
The information alleges that, for 13 years, Forte employed a“Ponzi” scheme to defraud investors of more than $35 million. A “Ponzi” scheme involves false claims of large returns on...
Jan 8, 2009 · He confessed to taking $10 million to $12 million for himself and used $15 million to $20 million of investors' money to pay off other investors - the hallmark of a Ponzi scheme, the authorities said. Forte's latest report to investors, on Sept. 30, claimed that his fund's value was more than $154 million.
