Madoff’s Ponzi Scheme victims to be rewarded US$405 million
Jun26

Madoff’s Ponzi Scheme victims to be rewarded US$405 million

  The victims of Bernard Madoff’s infamous Ponzi Scheme are now set to receive US$405 million in a recent settlement. Clients of hedge fund manager J. Ezra Merkin will be rewarded $405 million, while New York state will receive $5 million to cover the costs of of the litigation process. Merkin had hundreds of investors in his firm. He managed over $4 billion in assets. Some from private investors, some from charitable...

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The Dreaded Ponzi
Apr04

The Dreaded Ponzi

A few years back, Bernie Madoff brought fame to a scheme known to many as a Ponzi scheme. What is Ponzi scheme? Well if I were to guess, based on the word Ponzi, I’d say that is sounds like a delicious Italian dish. It sounds like a flaky dessert, or something with pasta and cheese in my mind. Unfortunately, Ponzi schemes aren’t delicious at all. Ponzi schemes or Ponzi scams are named after Charles Ponzi. In the 1920’s Ponzi attracted...

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Pyramid Schemes
Mar18

Pyramid Schemes

Have you or your friends ever entered a pyramid scheme? I set off explain Ponzi chemes, but felt compelled to write a bit about pyramid schemes as well, since they are both similar in their promise of great returns, and their inevitable collapses. First of all a pyramid scheme is never usually called a pyramid scheme when the idea is being sold to people. A pyramid scheme is a fraudulent investment plan based on a hierarchy. A pyramid...

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