[CLSTR]
< Back to situations

Monitor this situation.

[SITUATION] · [QUIET] · [CRIME]

2 clusters · 6 sources · 3 days · First seen · Last updated

Michelle Bisnoff smart ring fraud conviction

Overview

Michelle Bisnoff, the former CEO of Esos Rings Inc., has been convicted in a federal court for orchestrating a Ponzi scheme that defrauded investors of nearly $2 million.

Prosecutors established that after being dismissed from the British company McLear Ltd., Bisnoff claimed ownership of the company’s smart ring patent through a fabricated assignment and forged signatures. She used these false claims to market her own company, Esos Rings, to investors.

Bisnoff misled backers by claiming the company was profitable and had established or pending deals with major entities such as Apple Inc., Roc Nation, Target, and Walmart. In reality, the company had minimal revenue and no such agreements existed. The investigation determined that payments to earlier investors were funded by money obtained from new investors rather than legitimate capital.

Entities

Michelle Bisnoff · Esos Rings Inc. · McLear Ltd. · Apple Inc. · Roc Nation

Timeline

  1. [CRIME] 2 sources
    Michelle Bisnoff convicted in $2 million smart ring Ponzi scheme

    Michelle Bisnoff was found guilty of running a $2 million Ponzi scheme involving fraudulent claims about smart ring technology and fake partnerships with major retailers and corporations.

  2. [CRIME] 4 sources
    Michelle Bisnoff convicted in $2 million smart ring Ponzi scheme

    Former Esos Rings CEO Michelle Bisnoff has been convicted of fraud and money laundering for orchestrating a nearly $2 million Ponzi scheme involving falsified smart ring patents.

Sources

canyon-news.com · dailypilot.com · herocomplex.latimes.com · keyt.com · lawfuel.com · mynewsla.com