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Telexfree (stylized as TelexFREE), a trade name owned by Telexfree Inc., was a multibillion-dollar Ponzi scheme disguised as an internet phone service company. Prosecutors have described it as the largest fraud of all time in terms of the number of people affected - more than 1 million, with victims in various countries.
At the time of its premiere at the Tribeca Film Festival in April 2016, the financing for Betting on Zero had not been publicly disclosed. However, subsequent to the FTC's formal charging of Herbalife in July 2016, John Fichthorn, co-founder of Dialectic Capital Management, revealed that he had financed Betting on Zero.
Charles Ponzi was born in Lugo, Emilia-Romagna, Kingdom of Italy on March 3, 1882.He told The New York Times he had come from a family in Parma.Ponzi's ancestors had been well-to-do, and his mother continued to use the title "donna", but the family had subsequently fallen upon difficult times and had little money. [3]
A get-rich-quick scheme is a plan to obtain high rates of return for a small investment. Most schemes create an impression that participants can obtain this high rate of return with little risk, skill, effort, or time. The term "get rich quick" has been used to describe shady investments since at least the early 20th century. [1] [2]
Example of the optimal Kelly betting fraction, versus expected return of other fractional bets. In probability theory, the Kelly criterion (or Kelly strategy or Kelly bet) is a formula for sizing a sequence of bets by maximizing the long-term expected value of the logarithm of wealth, which is equivalent to maximizing the long-term expected geometric growth rate.
The MECE principle (mutually exclusive and collectively exhaustive) is a grouping principle for separating a set of items into subsets that are mutually exclusive (ME) and collectively exhaustive (CE). [1]
The zero padding scheme has not been standardized for encryption, [citation needed] although it is specified for hashes and MACs as Padding Method 1 in ISO/IEC 10118-1 [10] and ISO/IEC 9797-1. [ 11 ] Example: In the following example the block size is 8 bytes and padding is required for 4 bytes
Double Shah's Ponzi Scheme was at its peak when it was exposed by The Nation (Pakistan), a Lahore daily newspaper in an investigative piece published on the front page on April 6, 2007. [1] Double Shah was arrested by the Gakkhar town police on 13 April 2007 from his Nizamabad house on charges of Rs. 30,000 robbery.