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Tag: Luxury Cruise Receivables

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Fraud trial, white gloves in McGinn, Smith case

July 11, 2012Tess Nacelewicz

When the Securities and Exchange Commission charged alarm industry investors David L. Smith and Timothy McGinn in 2010 with running a Ponzi scheme that defrauded investors of at least $80 million, one of the SEC's contentions was that some of the money was diverted to pay for “strippers and go-go dancers” on McGinn's You Only Live Once cruise ship business. Now, a judge has ordered that another cruise business associated with the case—this one with the tonier name of White Glove...

David L. Smith, Luxury Cruise Receivables, Ponzi, SEC, Securities and Exchange Commission, Security Systems News, Timothy McGinn, White Glove Cruises, You Only Live Once

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