Ponzi scheme

Yahoo  Jun 26  Comment 
Bank of America Corp. was accused in a lawsuit of providing more than 100 accounts used to perpetrate what the U.S. regulators called a $102 million Ponzi scheme. The brother and sister who sued to recover losses from their late father’s...
Motley Fool  Jun 22  Comment 
It's not just the recency bias talking -- the stock market has gone up in the long term, and will likely continue to do so.
MarketWatch  Jun 19  Comment 
The Securities and Exchange Commission said it's filed charges and obtained an asset freeze against individuals and companies behind a $102 million Ponzi scheme. According to the SEC's complaint, the defendants defrauded 637 investors and some...
The Economist  Jun 7  Comment 
Follow the Maany THE glitzy Gulf states take pride in superlatives. They have the world’s tallest building, the biggest shopping mall, even (for a time) the most expensive cocktail. To that list, add a slightly less glamorous entry: what a...
Clusterstock  Jun 5  Comment 
John Hussman, the outspoken investor and former professor who has been predicting a stock market crash, has new thoughts on what he calls an "economic Ponzi scheme." He argues that one of the biggest problems facing the market right now is a...
Yahoo  Jun 1  Comment 
A Cayman Islands court has dismissed rival claims made by a Saudi Arabian family and the Cayman companies of a Kuwaiti-born businessman, finding both the family and the businessman to have defrauded scores of banks out of about $126 billion...
Clusterstock  Jun 1  Comment 
A dispute involving a Saudi-Arabian business empire ended after the judge ruled it was complicit in defrauding more than 100 banks for billions of dollars.  Liquidators called it "the largest Ponzi scheme the world has ever seen," and the...
MarketWatch  May 28  Comment 
This couple wonder if they have any recourse and now face a $30,000 tax bill.
New York Times  Apr 12  Comment 
With this distribution, the second in a series of payouts, about 21,000 victims will have received a total of more than $1.2 billion, the Justice Department said.


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A ponzi scheme is a fraudulent operation that promises to pay investors unusual returns on their investment. The scheme does not earn money through legitimate business, rather it relies on investment from new investors to pay back older investors.

It is named after Charles Ponzi who became famous for applying schemes of this type during early 20th century.

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