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Tag: economy

Poor Economy Exposing More Ponzi Schemes

It seems every week word of another P0nzi scheme seems to surface. Why? As the phrase went in the 1992 presidential campaign, “It’s the economy stupid”.

Ponzi Scheme Poster Child Bernie Madoff

Ponzi Scheme Poster Child Bernie Madoff

By Del Quentin Wilber
Washington Post Staff Writer
WASHINGTON — The great recession has decimated many industries; home builders, automakers and bankers are obvious casualties.

Now, add Ponzi schemers to the list.

Ravaged by the same fiscal turbulence pounding the nation’s legitimate businesses, Ponzi operations have been collapsing at a record clip, exposing prolific, rampant and colossal frauds that have bilked investors of billions of dollars.

For Full Story