accountCopy of court documents filed 03/10/2009 detailing the 11 criminal charges entered against Bernard Madoff.
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PONZI SCHEME
Ponzi schemes are a type of illegal pyramid scheme named for Charles Ponzi, who duped thousands of New England residents into investing in a postage stamp speculation scheme back in the 1920s. Ponzi promised a 40% return in just 90 days compared with 5% for bank savings accounts. Deluged with funds from investors, including a million during one three-hour period in 1921, he bought only $30 worth of the international mail coupons.
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Posted by: Matthew Goldstein on February 12 The burgeoning investigation of R. Allen Stanford’s fast-growing Stanford...
investment operation that involves paying abnormally high returns to investors out of the money paid in by subsequent...
An NPR report on the best and wackiest of all the Ponzi schemes ever created.
Top Sources: Ponzi Scheme
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