Ponzi Schemes
Hoslett Forensics has been engaged over the years to provide forensic accounting services in some of the largest Ponzi schemes in the Country including the following:
SEC v. ANI Development (Gina Champion-Cain) $198 Million Scheme
Gina Champion-Cain orchestrated a Ponzi scheme that went from 2011 to 2018 and involved scheming $198 million from approximately 490 investors. Hoslett Forensics aided the Court Appointed Receiver in analyzing 233,000 transactions in 198 bank accounts related to 52 different entities to quantify the sources and uses of the investor funds. The defendants used investor funds to operate dozens of businesses throughout the San Diego area including restaurants, retail stores, vacation rentals, etc. Gina Champion-Cain is currently serving a sentence of 15 years in prison.
SEC v. Louis Schooler (Western Financial Planning) $109 Million Scheme
Louis Schooler orchestrated a Ponzi scheme that went from 2003 to 2013 and involved scheming $109 million from approximately 3,300 investors. Hoslett Forensics aided the Court Appointed Receiver in analyzing 65,000 transactions in approximately 200 bank accounts related to 46 different entities. In July 2016, Louis Schooler embarked on a 3,500 mile sailing journey in which he mysteriously vanished when his boat was found wrecked on a small island in Tahiti with only 380 residents but no body was found.
SEC v. Copeland Wealth Management $56 Million Scheme
Copeland Wealth Management orchestrated a $56 million multiyear investment scheme that involved approximately 200 investors. This scheme involved commingling investor funds with nonprofitable real estate investments to keep them afloat. Hoslett Forensics performed an accounting of the sources and uses and the commingling of the $56 million in investor funds raised through 19 different entities.