Accused Ponzi Fraudster, David Dadante, ripped off more than 100 people who altogether invested tens of millions with him, thinking they were placing their money in a blue chip stock fund. In the end, they were only really placing their cash into Dadante's pockets.

Between 1999 and 2005 he blew through nearly $30 million and when he wasn't busy gambling away investors money, prosecutors say that Dadante and two brokers - one from Advest (now part of Merrill Lynch) and one from Ferris Baker Watts - were busy manipulating the stock price of the Georgria-based Innotrac Corporation.

Late last week Dadante was charged with two counts of securities fraud. His two apparent accomplices have not yet been charged or publicly named. Details here.

Labels: Advest, David Dadante, Ferris Baker Watts, Fraud, ponzi scheme, securities