Cases by state
Ponzi schemes in Maryland
13 cases announced 2011–2025, involving about $2.2B in reported investor money. Most common types: investment funds & advisory, trading, forex & commodities and crypto & digital assets. Listed by where the main defendant was based.
The largest by reported amount: HyperFund ($1.7B, 2024). Charges are allegations unless a court has entered a conviction or judgment.
Pitch phrases seen in these cases
- “top gun”
- “6% monthly return for 12 months”
- “almost certain we will make a ton of money soon”
- “learn which investments berkshire hathaway would make ahead of the market”
- “like having a private time machine”
- “significant returns with little associated risk”
- “associations with a fortune 500 company”
- “crypto asset mining operations”
Cases
| Date | Case | Location | Industry | Amount |
|---|---|---|---|---|
| May 28, 2025 | AeroVanti Patrick Britton-Harr |
Annapolis, MD | Investment funds & advisory | $15M |
| Nov 26, 2024 | Prosperity Partners Inc., Prosperity Medical and Health System LLC Mathias Bama, Valentine Bama, Hilaire Leunkam |
Greenbelt, MD | Investment funds & advisory | $30M |
| Feb 29, 2024 | Project Information Arbitrage Vladimir Artamonov |
Elkridge, MD | Trading, forex & commodities | $4M |
| Jan 30, 2024 | HyperFund Xue Samuel Lee (aka Sam Lee), Brenda Indah Chunga (aka Bitcoin Beautee) |
Severna Park, MD | Crypto & digital assets | $1.7B |
| Aug 28, 2020 | 1st Million LLC, Smart Partners LLC, Access to Assets LLC Dennis Mbongeni Jali, John Erasmus Frimpong, Arley Ray Johnson |
MD | Crypto & digital assets | $28M |
| Jan 4, 2019 | Ronald D. Morley, Diane Morley | MD | Investment funds & advisory | $33M |
| Sep 19, 2018 | Kevin B. Merrill, Jay B. Ledford, Cameron R. Jezierski | Towson, MD | Investment funds & advisory | $364M |
| Jul 6, 2018 | The Owings Group LLC Mark Johnson, Kevin Drost, Brian Koslow, David Waltzer |
Owings Mills, MD | Investment funds & advisory | $5M |
| Aug 28, 2017 | DJB Holdings LLC Dawn J. Bennett |
Chevy Chase, MD | Investment funds & advisory | $20M |
| Apr 26, 2017 | Krimm Financial Services Matthew A. Krimm |
Abington, MD | Real estate | $1.7M |
| Feb 28, 2013 | Garfield M. Taylor | Rockville, MD | Trading, forex & commodities | $25M |
| Sep 13, 2012 | Winans Foundation Trust Michael Winans Jr. |
Jessup, MD | Energy & alternative assets | $8M |
| Mar 7, 2011 | IV Capital Ltd Larry Michael Parrish |
Walkersville, MD | Trading, forex & commodities | $9.2M |