Search
Most Recent
AdSurfDaily Agape agent American Integrity Aronson asset sales Attorney av bar reg baker bank bank of america Bankruptcy baumann bermudez black diamond blackwell bridge loan bull cattle CD celebrity cftc charity china China Voice church cityfund claims claims process clawback commission commodities commodity pool computer program congress Crown Forex currency death sentence denver diamond bar disgorgement Distribution Dodd-Frank donnan Dreier dunhill e-bullion elderly E-M Management SEC england Fairfield family FBI FDIC Fees female ponzi scheme financial advisor fine FINRA football forex fraud fufta fugitive Full Tilt gift card guilty plea GunnAllen hawaii Heckscher HSBC india invers forex janvey John Morgan JP Morgan kansas ken bell kenzie las vegas lawsuit lawyer libya Lifland machado Madoff Marian Morgan metro dream homes mets milberg millers a game Morgan European Holdings mortgage multiple schemes NCAA Net Winner new jersey notes objection Oxford Patrick Kiley paul burks PermaPave Pettengill Petters Picard poker Ponzi ponzi scheme ponzi scheme database ponzi scheme list Prime Rate profitable sunrise prosun pta puerto rico Rakoff real estate receiver receivership regulation relief defendants religion remission repeat offender restitution Rothstein RRA sec sentencing simmons sipa sipc snelling standing stanford stettin subpoena td bank telexfree treasury bonds treasury strip Tremont Trevor Cook UBS UFTA uga utah venture advisors Wachovia wilpon wire fraud woman zeek zeek rewards zeekler zeekrewards
Social
Recent SEC Releases
« Former Gold Dealer Receives 51-Month Sentence For $4 Million Ponzi Scheme | Main | Zeek Receiver Posts "Subpoena FAQ" for Clawback Targets »
Friday
Nov022012

Judge To Accused Ponzi Schemer: Stop Gambling At Vegas Casinos

"I am not a degenerate gambler.  I love this country."

- Ramon Desage

A federal judge had harsh words for a man accused of running a $75 million Ponzi scheme after authorities caught him gambling over two dozen times in Las Vegas casinos while awaiting trial.  Ramon Desage, arrested earlier this summer and charged with wire fraud, was ordered by Magistrate Judge Peggy Leen to stop gambling and stay away from casinos.  DeSage, who according to authorities appears to fancy video poker, had been ordered to submit to electronic home monitoring as one of the conditions that allowed him to remain out of jail while the criminal case progresses.  From his past track record gambling, Judge Leen has good reason to worry: in the criminal complaint, authorities painted DeSage as a "prodigious gambler" who allegedly lost over $20 million at various Vegas casinos since 2006. 

According to authorities, DeSage operated a massive Ponzi scheme using his company Cadeau Express, which described itself as a "unique company that caters to hotels and casinos who roll out the red carpet for selective guests and high-end gamblers."  Rather than use investor funds for these described purposes, DeSage allegedly made Ponzi-style payments to existing invesetors and financed a lavish lifestyle that included a 40,000 square foot palace in his native Lebanon and a $10 million real estate portfolio.  Authorities moved to arrest DeSage in June when investor losses were said to approach over $75 million and DeSage was on the verge of fleeing the country to Lebanon.

Ironically, when DeSage's lawyers successfully obtained his release from jail following his arrest, Judge Leen explicitly included a ban on casino visits as part of the home monitoring restrictions  However, those instructions apparently took several weeks to reach pretrial service officers in charge of supervision, who unknowingly violated those orders when they allowed DeSage to visit casinos 26 times over an eight-week period.  For his part, DeSage maintains that he did not deliberately violate Judge Leen's order.  

PrintView Printer Friendly Version

EmailEmail Article to Friend

References (37)

References allow you to track sources for this article, as well as articles that were written in response to this article.
  • Response
    Response: John Kuhn Jersey
    Football is truly one particular of the largest sports in America. It has a big following.
  • Response
    Wonderful page, Maintain the excellent work. Many thanks!
  • Response
    Judge To Accused Ponzi Schemer: Stop Gambling At Vegas Casinos - Ponzitracker - Ponzitracker
  • Response
    Judge To Accused Ponzi Schemer: Stop Gambling At Vegas Casinos - Ponzitracker - Ponzitracker
  • Response
    Response: webpage
    Judge To Accused Ponzi Schemer: Stop Gambling At Vegas Casinos - Ponzitracker - Ponzitracker
  • Response
    Response: 7mmbet
    Judge To Accused Ponzi Schemer: Stop Gambling At Vegas Casinos - Ponzitracker - Ponzitracker
  • Response
    Judge To Accused Ponzi Schemer: Stop Gambling At Vegas Casinos - Ponzitracker - Ponzitracker
  • Response
    Judge To Accused Ponzi Schemer: Stop Gambling At Vegas Casinos - Ponzitracker - Ponzitracker
  • Response
    Response: video animated
    Judge To Accused Ponzi Schemer: Stop Gambling At Vegas Casinos - Ponzitracker - Ponzitracker
  • Response
    Judge To Accused Ponzi Schemer: Stop Gambling At Vegas Casinos - Ponzitracker - Ponzitracker
  • Response
    Response: ecigaret
    Judge To Accused Ponzi Schemer: Stop Gambling At Vegas Casinos - Ponzitracker - Ponzitracker
  • Response
    Judge To Accused Ponzi Schemer: Stop Gambling At Vegas Casinos - Ponzitracker - Ponzitracker
  • Response
    Response: what is garcinia
    Judge To Accused Ponzi Schemer: Stop Gambling At Vegas Casinos - Ponzitracker - Ponzitracker
  • Response
    Response: pc muscle
    Judge To Accused Ponzi Schemer: Stop Gambling At Vegas Casinos - Ponzitracker - Ponzitracker
  • Response
    Response: brat diet
    Judge To Accused Ponzi Schemer: Stop Gambling At Vegas Casinos - Ponzitracker - Ponzitracker
  • Response
    Judge To Accused Ponzi Schemer: Stop Gambling At Vegas Casinos - Ponzitracker - Ponzitracker
  • Response
    Response: order idrotherapy
    Judge To Accused Ponzi Schemer: Stop Gambling At Vegas Casinos - Ponzitracker - Ponzitracker
  • Response
    Judge To Accused Ponzi Schemer: Stop Gambling At Vegas Casinos - Ponzitracker - Ponzitracker
  • Response
    Response: no2 Blast
    Judge To Accused Ponzi Schemer: Stop Gambling At Vegas Casinos - Ponzitracker - Ponzitracker
  • Response
    Response: Vydox review
    Judge To Accused Ponzi Schemer: Stop Gambling At Vegas Casinos - Ponzitracker - Ponzitracker
  • Response
    Response: quick weight loss
    Judge To Accused Ponzi Schemer: Stop Gambling At Vegas Casinos - Ponzitracker - Ponzitracker
  • Response
    Judge To Accused Ponzi Schemer: Stop Gambling At Vegas Casinos - Ponzitracker - Ponzitracker
  • Response
    Response: angus.askbot.com
    Judge To Accused Ponzi Schemer: Stop Gambling At Vegas Casinos - Ponzitracker - Ponzitracker
  • Response
    Response: Skin Care clinic
    Judge To Accused Ponzi Schemer: Stop Gambling At Vegas Casinos - Ponzitracker - Ponzitracker
  • Response
    Response: 3discussions.com
    Judge To Accused Ponzi Schemer: Stop Gambling At Vegas Casinos - Ponzitracker - Ponzitracker
  • Response
    Response: best hosting vps
    Judge To Accused Ponzi Schemer: Stop Gambling At Vegas Casinos - Ponzitracker - Ponzitracker
  • Response
    Judge To Accused Ponzi Schemer: Stop Gambling At Vegas Casinos - Ponzitracker - Ponzitracker
  • Response
    Judge To Accused Ponzi Schemer: Stop Gambling At Vegas Casinos - Ponzitracker - Ponzitracker
  • Response
    Judge To Accused Ponzi Schemer: Stop Gambling At Vegas Casinos - Ponzitracker - Ponzitracker
  • Response
    Response: Ht Rush
    Judge To Accused Ponzi Schemer: Stop Gambling At Vegas Casinos - Ponzitracker - Ponzitracker
  • Response
    Response: Max Man
    Judge To Accused Ponzi Schemer: Stop Gambling At Vegas Casinos - Ponzitracker - Ponzitracker
  • Response
    Judge To Accused Ponzi Schemer: Stop Gambling At Vegas Casinos - Ponzitracker - Ponzitracker
  • Response
    Judge To Accused Ponzi Schemer: Stop Gambling At Vegas Casinos - Ponzitracker - Ponzitracker
  • Response
    Judge To Accused Ponzi Schemer: Stop Gambling At Vegas Casinos - Ponzitracker - Ponzitracker
  • Response
    Judge To Accused Ponzi Schemer: Stop Gambling At Vegas Casinos - Ponzitracker - Ponzitracker
  • Response
    Judge To Accused Ponzi Schemer: Stop Gambling At Vegas Casinos - Ponzitracker - Ponzitracker
  • Response
    Judge To Accused Ponzi Schemer: Stop Gambling At Vegas Casinos - Ponzitracker - Ponzitracker

Reader Comments

There are no comments for this journal entry. To create a new comment, use the form below.

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
Post:
 
Some HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>