You can lose a lot of money in a Ponzi scheme. And the international scheme investigators and plaintiffs say was concocted by a graduate of the University of Miami is no exception. Investigators say investors may have been bilked out of more than $30 million.
According to the FBI’s definition, a Ponzi scheme is an investment fraud where the bad guy promises high financial returns that are not available through traditional investments. The scheme generally falls apart when there are not enough new investors to keep the money rolling in. This type of fraud was named after Charles Ponzi of Boston, Mass., who offered his investors a guaranteed 50 percent return on their investment in postal coupons – of course, the scheme fell apart in the end, and the investors lost fortunes.
According to the FBI’s definition, a Ponzi scheme is an investment fraud where the bad guy promises high financial returns that are not available through traditional investments. The scheme generally falls apart when there are not enough new investors to keep the money rolling in. This type of fraud was named after Charles Ponzi of Boston, Mass., who offered his investors a guaranteed 50 percent return on their investment in postal coupons – of course, the scheme fell apart in the end, and the investors lost fortunes.
topics:
News and Politics,
News,
United States,
Florida,
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Miami,
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- quantisation
- added this
- added August 21, 2008
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This is not.
It is simply cut-and-pasted out of the original blog post, which contained what new information?
1) Some people are crooks! Gasp!
2) If it's too good to be true, it's probably not true! Gasp!
3) There are people at universities who are about as smart as a brick! Gasp!
- b_p
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- b00g13_p0p
- 5 months ago
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