Detroit Strip Clubs: OFIR shuts down Detroit-based Ponzi scheme
June 12, 2010 at 5:49 pm | In Detroit strip clubs | No CommentsThe Office of Financial and Insurance Regulation (OFIR) announced Friday that it has ended a Detroit-based $1.9 million dollar Ponzi scheme. OFIR investigators found that Martin Royster, through his company Royster, Carberry, Goldman & Associates, Inc. (RCG), was the instigator of a scheme that victimized investors by promising outrageous returns in a fraudulent oil investment plan.
OFIR’s investigation found that Royster and his RCG-related accomplices violated the state’s Uniform Securities Act. The agency ordered them to cease and desist from the sale of unregistered securities products.
Subpoenaed bank records show that Royster, through RCG, deposited approximately $1.9 million of investor proceeds into bank accounts he controlled. As in all Ponzi schemes, part of the funds went back to investors as an alleged return on investment. OFIR has information that Royster transferred the left over funds to his personal account.
“Our investigation found that Royster spent his client’s money in strip bars, on lavish trips and designer clothes,” OFIR Commissioner Ken Ross said. “Consumers are reminded to call OFIR toll free – before investing – to make sure an investment product is registered.”
See the full article from “Examiner.com”
Detroit Escorts: Judge rejects Worthy letter on boot camp
June 12, 2010 at 5:13 am | In Detroit escorts | No CommentsThe number of school employees applying to retire this summer jumped to 16,000 by the end of business Friday, still short of the 28,000 needed for school districts to save $680 million from retirement reforms passed by lawmakers in May. Kurt Weiss, spokesman for the state Office of Technology, Management and Budget, said there were “several thousand” pieces of mail left to open and applications are expected to arrive by mail into early next week. The applications had to be postmarked by midnight Friday.
WWII soldier to be laid to rest in Houghton
Lansing — The remains of a Michigan soldier killed in the attack on Pearl Harbor will be laid to rest in Houghton today. Navy Fireman 3rd Class Gerald George Lehman died less than a month after his 18th birthday aboard the USS Oklahoma. His remains were identified by DNA.
HBO’s ‘Hung’ films at old Tiger stadium site
Detroit –Crews for the HBO television series “Hung” shot footage Friday at the site of the former Tiger Stadium. The show, about a male prostitute in Metro Detroit, is filmed primarily in Los Angeles.
Detroit Strip Clubs: Michigan regulators pull the plug on $1.9 million Detroit pyramid scheme
June 12, 2010 at 12:24 am | In Detroit strip clubs | No CommentsTo date, Royster has funneled $1.9 million into bank accounts he controls. According to Commissioner Ken Ross of the OFIR, Royster has spent his clients’ money in strip clubs, on lavish trips and designer clothes. The OFIR has declared RPG’s activities to be in violation of Michigan’s Uniform Securities Act.
See the full article from “Examiner.com”
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