Where's the money?

  • Updated: June 12, 2012 - 8:26 PM

Where's the money?

Scott Hlavacek, a forensic accountant with the U.S. Securities and Exchange Commission, traced the money Trevor Cook and his associates raised for their Ponzi scheme between July 1, 2006, and Sept. 30, 2009. He acknowledged his accounting was incomplete, but it was the best accounting that government investigators could produce.

Money raised: $193,981,550.65

Returned to investors: $49,874,319.13

Payouts:

Money in Panama for a casino project that was never built: $12,751,439.40

Net proceeds to Trevor Cook: $12,263,624.64

Net to Jason "Bo" Beckman: $4,801,886.71

Net to Christopher Pettengill: $4,357,608.30

Net to Gerald Durand: $1,905,289.91

Net to Patrick Kiley: $432,031.57

Payments to Cook in-laws Ellen and Cliff Berg of Apple Valley: $655,079.31

Payments to employees, contractors: $3,792,594.82

Transfers to related business entities: $1,115,681.38

Radio time and other media purchases: $2,240,029.64

Net to others: $3,533,070.81

Money spent on foreign currency and commodities trades

• Peregrine Financial Group in Chicago: $34,340,608.78

• JDFX entities in Switzerland (includes a $15,250,000 equity purchase): $26,050,000

• Crown Forex SA in Switzerland (includes a $3 million equity purchase): $24,777,505

• Saxo Bank in Denmark: $9,388,000

• Other foreign currency transfers: $6,538,600.67

Unidentified uses: $2,406,622.11

DAN BROWNING

  • get related content delivered to your inbox

  • manage my email subscriptions

ADVERTISEMENT

Connect with twitterConnect with facebookConnect with Google+Connect with PinterestConnect with PinterestConnect with RssfeedConnect with email newsletters

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

 
Close