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Ponzi Scheme stories:
Petters blames top associates for alleged scheme
Nov 18th, 2009 - Boston
ST. PAUL, Minn.—Tom Petters is putting the blame on top associates for the fraud at Petters Co. Inc.
Deanna Coleman and Bob White were vice presidents at PCI --...SEC accuses 4 people in alleged Ponzi scheme
Nov 16th, 2009 - Boston
DENVER—Federal regulators have accused four people and two companies of fraud in an alleged $30 million Ponzi scheme that lured 300 investors nationwide in purported eco-friendly investments.
Bernard Madoff auction raises $900000
Nov 15th, 2009 - guardian.co.uk
Valuation has always been an elastic concept in anything touching Bernard Madoff. But even the notorious Wall Street fraudster might have balked at the lofty prices paid for his personal belongings by souvenir hunters.Madoff 'Prisoner' Watch Brings $65000 in Sale of Seized Goods
Nov 14th, 2009 - Bloomberg
Nov. 14 (Bloomberg) -- Ruth Madoff’s 14-carat diamondearrings sold for $70,000 today in a Manhattan auction ofkeepsakes, jewelry and clothing owned by Bernard L. Madoff...Madoff Computer Aides Arrested for Ponzi Scheme Role
Nov 13th, 2009 - Bloomberg
Nov. 13 (Bloomberg) -- Two computer programmers who workedin the Manhattan offices where Bernard Madoff masterminded amultibillion-dollar Ponzi scheme were arrested by federal agentsfor their role in concealing the fraud for more than 15 years.
Ponzi Scheme videos from YouTube:
1:24How Does a Ponzi Scheme Work?
Prosecutors say Bernard Madoff used a Ponzi scheme to bilk people out of $50 billion. So just what is a Ponzi scheme. (Dec. 17)
6:25Bernard Madoff $50bn Ponzi Scheme - How Did He Do It?
The whole Madoff story explained clearly. How Bernard Madoff stole 50 billion dollars from investors around the world in the biggest ever Ponzi Scheme. Info put together from several news sources across the internet.
1:10Your Money: the Ponzi Scheme Explained
In the investigation of the alleged $50 billion investment scam by Barnard Madoff, it's been referred to as a Ponzi scheme. So what exactly is a Ponzi scheme? AP Personal Finance Editor Trevor Delaney explains. (Dec. 17)
2:37Ponzi Scheme in HD
bandmerch.seenon.com www.hotforwords.com to request words Origin of the phrase Ponzi Scheme in light of the $50 Billion dollar one recently
Ponzi Scheme from WikiPedia:
A Ponzi scheme is a fraudulent investment operation that pays returns to separate investors from their own money or money paid by subsequent investors rather than from any actual profit earned. The Ponzi scheme usually offers returns that other investments cannot guarantee in order to entice new investors, in the form of short-term returns that are either abnormally high or unusually consistent. The perpetuation of the returns that a Ponzi scheme advertises and pays requires an ever-increasing flow of money from investors in order to keep the scheme going.
The system is destined to collapse because the earnings, if any, are less than the payments. Usually, the scheme is interrupted by legal authorities before it collapses because a Ponzi scheme is suspected or because the promoter is selling unregistered securities. As more investors become involved, the likelihood of the scheme coming to the attention of authorities increases.
Read more on WikiPedia
