[akprodr]

DOJ Charges NJ Woman With $45 Million Real-Estate Ponzi Scheme

By David Benoit, Of DOW JONES NEWSWIRES

NEW YORK -(Dow Jones)- The U.S. Justice Department Wednesday charged a New Jersey woman with running a $45 million Ponzi scheme, alleging she raised millions of dollars under the pretenses of investing in real estate and instead gambled much of it away at casinos.
The U.S. Attorney for the Southern District of New York alleged that Antoinette Hodgson, a 58-year-old woman from Montclair, N.J., solicited tens of millions of dollars from New York and New Jersey investors, telling them she would spend the money to purchase and renovate residential real estate and either re-sell or rent the properties.
Prosecutors said Hodgson promised investors high rates of return but, after raising about $45 million, she used the funds to repay other investors.
She also allegedly spent hundreds of thousands of dollars gambling in casinos in both Las Vegas and Atlantic City and invested more than $700,000 in a Dunkin Donuts franchise in Arizona. Tens of thousands of additional dollars were given to friends and family, the prosecutors said.
Hodgson surrendered to authorities earlier Wednesday and is scheduled to appear before a judge in Manhattan later.
"What Antoinette Hodgson allegedly promised to investors seemed too good to be true and that's because it was," U.S. Attorney Preet Bharara said in a statement. "This case is a further reminder that, whether the real estate market is up or down, innocent investors can be and will be targeted by unscrupulous fraudsters."
Hodgson is charged with one count of conspiracy to commit wire fraud and one count of wire fraud. She faces up to 20 years in prison.

[Better_Than_Deux]

The Landlord's here to visit
They're blasting disco down below
Sez, "I'm doubling up the rent
Cos the building's condemned
You're gonna help me buy City Hall"

But we can, you know we can
But we can, you know we can
Let's lynch the landlord man

I tell them 'turn on the water'
I tell 'em 'turn on the heat'
Tells me 'All you ever do is complain'
Then they search the place when I'm not here

But we can, you know we can
Let's lynch the landlord
Let's lynch the landlord
Let's lynch the landlord man

There's rats chewin' up the kitchen
Roaches up to my knees
Turn the oven on, it smells like Dachau, yeah
Til the rain pours thru the ceiling

But we can, you know we can
Let's lynch the landlord man

[Rob Instigator]

damn man

[knox]

well i just accidentaly got a cleptomaniac arrested for shoplifiting in the supermarket by trying to help him so.

[jon boy]

Originally Posted by knox

well i just accidentaly got a cleptomaniac arrested for shoplifiting in the supermarket by trying to help him so.

your life sounds pretty exciting, clepto's, singing, more clepto's.

[FreshChops]

what does this mean for you.... what if you're landlord ends up in the lock-up?

[jon boy]

Originally Posted by FreshChops

what does this mean for you.... what if you're landlord ends up in the lock-up?

it sucks but they better start looking on craigslist. i hate landlords.

[akprodr]

Legally unrelated, a month ago, we also got a notice of foreclosure about the house (she lives downstairs). Its states that we have to keep paying rent and a new owner can't kick us out (w/o cause and due process).

[knox]

Originally Posted by jon boy

your life sounds pretty exciting, clepto's, singing, more clepto's.

did i ever mention another clepto? i was friends with one but i don't think i said anything.

[jon boy]

Originally Posted by knox

did i ever mention another clepto? i was friends with one but i don't think i said anything.

could have sworn you did but then again you just did now so thats two. anyway, stories please.

i knew a clepto once who kept on stealing my action figures when i was a kid. i hit him on the head with a stick and he told my mum.

[knox]

my one stole photos of my grandparents, matchboxes, socks and hair.
she also collected dead spiders and boogeys behind her kurt cobain poster.

[jon boy]

Originally Posted by knox

my one stole photos of my grandparents, matchboxes, socks and hair.
she also collected dead spiders and boogeys behind her kurt cobain poster.

oh fuck!

[knox]

does it sound that bad? it's not really.
it was fun when she brought birthday cakes for us to celebrate dead people's birthdays.

[jon boy]

Originally Posted by knox

does it sound that bad? it's not really.
it was fun when she brought birthday cakes for us to celebrate dead people's birthdays.

hey we have all been there right? i used to keep gum behind my posters.

[knox]

im tired now after all the comotion.