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arrest and indictment of DAVID COPELAND REED on charges stemming from the operation of an international, Internet-based, "gold unit" Ponzi scheme. According to the Indictment unseale today in Manhattan federal court: In March 2001 REED founded OSGold, which held itself out as an on-line "bank" that could provide its customers with
MANHATTAN (CN) – Federal prosecutors say David Copeland Reed defrauded 66,000 people of $13 million in a “Gold Unit” Ponzi scheme, through his companies, OSGold, OSOpps and Ecommerce Exchange. Reed claimed his “Internet banking services” were backed by “gold bullion reserves,” and promised 45% annual returns, prosecutors said.
Jan 27, 2005 · David Reed, who had founded the company called One Groupe International, eventually was discovered to have relocated from the United States to Cancun, Mexico.
Feb 24, 2009 · arrest and indictment of DAVID COPELAND REED on charges stemming from the operation of an international, Internet-based, “gold unit” Ponzi scheme. According to the Indictment unsealed today in Manhattan federal court: In March 2001 REED founded OSGold, which held itself out as an on-line “bank” that could provide its customers with
Feb 28, 2009 · Investigators say David Reed founded the online bank OSGold in March 2001. It was backed in part by gold bullion reserves stored in an off-shore vault. Customers would open accounts by...
Feb 26, 2009 · David Copeland Reed, 38, is accused of operating an international, Internet-based Ponzi scheme that promised returns of up to 45 percent and ultimately bilked investors of nearly $13 million.
POOLER, Circuit Judge. Appellant Gray Clare appeals from an August 3, 2005, order of the United States District Court for the Southern District of New York (Kaplan, J.) holding him in contempt of court. See OSRecovery, Inc. v. One Groupe Int'l, Inc.,
