Joe Zada convicted!  9-3-15 

Remember Joe Zada the Grosse Pointe Michigan and Wellington and Palm Beach Florida Ponzi scammer? You should...this little piece of sewage was one of the bigger ones. I wrote about him several times over the years on this blog. My primary purpose, of course, was to get his name out as often as possible to warn other potential victims. Now my primary purpose is to gloat! After one of my postings, I received an email from a VERY offended crook. He asked me where the evidence was. He tried to point out there was no investigation pending. He asked why he had not been indicted yet if any of these allegations were true. I did not even bother to answer him. I already had good intel that the Feds were methodically gathering evidence and witness testimony. The ax was beginning to fall. 
What was he convicted of today? 15 counts of mail fraud and one count of bank fraud. Is he in jail? Yes, upon the rendering of the guilty verdict he was immediately remanded to jail to await sentencing to a Federal Penitentiary in November. 
Why did the inevitable take so long? More importantly, where did the 298 million dollars that he stole go? I would like to begin by answering the second question first. A big chunk went to livin' large! Mansions, yachts, sponsoring horse shows, Escalades, private jets, European vacations, lavish parties (which were really nothing more than lures to fish in new victims) and let's not forget about the endless nightly parade of male prostitutes. 
Another gigantic chunk was spent on attorneys. He paid millions to the ones he couldn't stiff out of their fees--although there were plenty of those too. Whenever some nouveau pauper would grow tired of waiting to get their retirement account back and file suit, his attorney of the month would fight tooth and nail, using every delay tactic in the book. 
Yet another large portion of the money he stole was earmarked for the express purpose of stealing more money.
In typical Ponzi fashion, he would pay back some of the victims money to them, declaring a significant part of it to be interest!  Much more to come. To return to the home page, click here.     To visit Classic Health Institute click here.