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It is believed that the ponzi scheme was a $600M enterprise and the number of affected investors was 1 million when the SEC filed suit. This made Zeek Rewards the largest ponzi scheme in history by number of affected investors, even though numerous other ponzi schemes have had larger enterprise values.
Ponzi schemes sometimes begin as legitimate investment vehicles, such as hedge funds that can easily degenerate into a Ponzi-type scheme if they unexpectedly lose money or fail to legitimately earn the returns expected. The operators fabricate false returns or produce fraudulent audit reports instead of admitting their failure to meet ...
The 162-page list of clients (without investment amount), filed in United States bankruptcy court in Manhattan, was made public on February 4, 2009. [3] [4] [5] Some of the clients profited. [6] Thousands of individual investors of Fairfield Greenwich, J. Ezra Merkin's Ascot Partners, and Chais Investments are not included. [7]
BurnLounge (shut down as pyramid scheme by FTC in 2012) Equinox International (dissolved in 2001) European Grouping of Marketing Professionals/CEDIPAC SA (dissolved in 1995) European Home Retail (dissolved in 2007) Fortune Hi-Tech Marketing (dissolved in 2013) FundAmerica (bankrupt in 1990) [25] Holiday Magic (dissolved in 1974)
Then we’re going to take their name off the list and put your name at the bottom. So we’ll make it a $50 chain letter. And as everybody else does that, your name moves up the list until you ...
Pages in category "Pyramid and Ponzi schemes" The following 156 pages are in this category, out of 156 total. This list may not reflect recent changes. ...
Bernie Madoff — who made off with $65 billion of innocent investors’ funds — became a household name across the country when news broke of his massive Ponzi scheme. The name Johanna Garcia ...
The Internal Revenue Service issued guidance this week on losses sustained by investors involved in Ponzi schemes like the ones allegedly run by Bernie Madoff and Allen Stanford. In prior years ...