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The Unseen Architects of American Wealth: How Enslaved Labor Built the Nation

When we talk about the founding and growth of the United States, it's essential to understand a foundational truth: much of the nation's early wealth and infrastructure was built on the backs of enslaved people. Their forced labor wasn't just a side note; it was the engine of a brutal but incredibly lucrative economic system. From the very beginning, enslaved individuals were the primary workforce for the booming cash crop industries. Think of the vast cotton plantations that fueled textile mills in both the North and Europe, or the sprawling tobacco and sugar operations. These profitable ventures, which made the Southern states among the wealthiest regions globally, were entirely dependent on the relentless, unpaid labor of enslaved men, women, and children. But their contributions weren't limited to agriculture. Enslaved people were also the muscle and skill behind much of America's early infrastructure. They quarried stone, milled timber, and laid bricks to con...

CEO of Axius Inc. and Finance Professional Indicted for Alleged Roles in Scheme to Bribe Stock Brokers and Manipulate Stock Prices

WASHINGTON—The chief executive officer (CEO) of Axius Inc., a Nevada corporation; and a finance professional were indicted today on multiple charges for their alleged roles in a scheme to bribe stock brokers and manipulate the share price of Axius stock, announced Assistant Attorney General Lanny A. Breuer of the Justice Department’s Criminal Division and U.S. Attorney Loretta E. Lynch for the Eastern District of New York.

Attorney General Kamala D. Harris Announces Convictions of Hucksters Who Stole $8 Million in a Phony Online Rewards Scheme

RIVERSIDE - Attorney General Kamala D. Harris announced that two men who stole millions of dollars through phony stock sales and an illegal pyramid scheme were convicted today on charges of grand theft and securities fraud. James A. Sweeney, II, 64, of Afton, Tennessee, and Patrick M. Ryan, 35, of Canyon Lake, California, were found guilty on 65 counts of grand theft and securities fraud. The two men, who face a maximum of more than 20 years in state prison, will be sentenced June 14 in Riverside County Superior Court. Sweeney and Ryan, co-founders of Riverside-based Big Co-op, Inc., stole approximately $8.2 million from more than 1,000 Californians through an illegal pyramid scheme and phony stock sales. Big Co-op, also operating as Ez2Win.biz, purported to be an online shopping hub where consumers could go to purchase thousands of goods and services at discounted prices from big-name retailers including, Sears, Target and Macy's. Pyramid Scheme Consumers were informed t...

Barry Minkow Charged with Conspiracy to Manipulate Common Stock of Fortune 500 Company

Wifredo A. Ferrer, United States Attorney for the Southern District of Florida, and William J. Maddalena, Acting Special Agent in Charge, Federal Bureau of Investigation (FBI), Miami Field Office, announce the filing of a criminal Information charging Barry Minkow, 44, of San Diego, CA, with conspiracy to manipulate the stock price of Lennar Corporation (Lennar), a former Fortune 500 company doing business in Miami-Dade, by making false and misleading statements about Lennar's business operations and management. Minkow is expected to make his initial appearance in federal court next week. According to the charging document, Minkow operated Fraud Discovery Institute, a for profit fraud investigation firm based in California. In this way, Minkow developed ties with federal law enforcement agencies as a purported fraud-finder. Today, Minkow was charged with making false and misleading statements alleging wide-spread improprieties in Lennar Corporation's financial reporting and b...

New York Broker Indicted for Alleged Role in International Stock Fraud Scheme Spam E-Mails Promoting Stocks Used to Artificially Inflate Prices; Scheme Generated $30 Million for Co-Conspirators

WASHINGTON—An indictment unsealed today in Detroit charges stock broker Gregg M. Berger, of New York, for his role in a wide-ranging fraud scheme to illegally "pump-and-dump" thinly traded Chinese and Israeli stocks, announced Assistant Attorney General Lanny A. Breuer and U.S. Attorney for the Eastern District of Michigan Barbara L. McQuade. The single count superseding indictment returned in the Eastern District of Michigan alleges that Berger, 47, conspired with Alan Ralsky, Francis Tribble, How Wai John Hui, Scott Bradley, and others to carry out a sophisticated stock fraud scheme from January 2005 through December 2007. The indictment alleges that during the course of the scheme, Berger caused the sale of approximately 30 million shares of stock, generating approximately $30 million for his co-conspirators and more than $600,000 in commissions for himself. Ralsky, Tribble, Hui and Bradley have all been previously convicted and sentenced for their roles in the case.

Multi-Million Dollar E-mail Stock Fraud Scheme

Five individuals pleaded guilty today in federal court in Detroit for their roles in a wide-ranging international stock fraud scheme involving the illegal use of bulk commercial e-mails, or "spamming." Alan M. Ralsky, 64, of West Bloomfield, Mich., and Scott K. Bradley, 38, also of West Bloomfield, both pleaded guilty to conspiracy to commit wire fraud, mail fraud and to violate the CAN-SPAM Act. Ralsky and Bradley also pleaded guilty to wire fraud, money laundering and violating the CAN-SPAM Act. Under the terms of his plea agreement, Ralsky acknowledges he is facing up to 87 months in prison and a $1 million fine under the federal sentencing guidelines while Bradley acknowledges that he is facing up to 78 months in prison and a $1 million fine under the federal sentencing guidelines. The CAN-SPAM Act was passed by Congress in 2003 to address spam e-mails. The criminal provisions of the Act prohibit falsification of certain information used in the transmission of e-mail. Jo...

Las Vegas Man Convicted of Conspiring to Evade Taxes Through Fraudulent Stock Sale

WASHINGTON - A Las Vegas federal jury convicted Michael Haynes of one count of conspiracy to commit tax evasion through a scheme involving the fraudulent sale of One Voice Technologies Inc. stock, the Internal Revenue Service (IRS) and the Justice Department announced today. The jury, following a one-week trial before Chief U.S. District Judge Roger L. Hunt, deliberated for about two hours before finding Haynes guilty of conspiring to commit tax evasion totaling $684,242. Co-defendant David Jett pleaded guilty to the conspiracy charge in March 2008 and testified against Haynes during the trial. According to the indictment and evidence presented at trial, Haynes and Jett orchestrated the fraudulent sale of $7 million in One Voice stock. Haynes and Jett used at least ten stock certificates to generate the $7 million in gross proceeds; all of these stock certificates were in different nominee names. As part of the scheme, new stock certificates in the name of One Voice were issued to at l...