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Barry Minkow, founder of ZZZZ Best, a carpet-cleaning and restoration company, which was actually a front for a Ponzi scheme. Michael Monus, founder of Phar-Mor, which ultimately cost its investors more than $1 billion; F. Bam Morrison, conned the town of Wetumka, Oklahoma by promoting a circus that never came
Alan Conway (1934–1998): American con man best known for impersonating film director Stanley Kubrick. Gregory Caplinger (1953–2009): American conman who perpetrated cancer and investment scams. Prosecuted by the FBI, he died in prison. [20] Bernie Cornfeld (1927–1995): Ran the Investors Overseas Service, alleged to be a Ponzi scheme. [21]
The scammer begins with a large pool of marks, numbering ideally a power of two such as 1024 (2 10). The scammer divides the pool into two halves, and sends all the members of each half a prediction about the future outcome of an event with a binary outcome (such as a stock price rising or falling, or the win/loss outcome of a sporting event).
In 2023, the last year for which FTC data is available, Americans reported losing $10 billion to scams—an all-time high. As AI, deepfakes, ... John Carreyrou’s best seller Bad Blood: ...
Sidney Poitier. In the late 1980s, a scam artist named Charles Agee Atkins scammed several celebrities into joining a fake tax shelter. This scheme generated phony losses totaling more than $1.3 ...
Theranos' Elizabeth Holmes, once the wunderkind of Silicon Valley, is only the latest in a long line of corporate scammers. Ever since Charles Ponzi swindled millions from investors more than a ...
МММ was a Russian company that perpetrated one of the world's largest Ponzi schemes of all time. By different estimates from 5 to 40 million people lost up to $10 billion. By different estimates from 5 to 40 million people lost up to $10 billion.
Seniors are taking the brunt of financial fraud to the tune of $3.4B+. Learn the most common peer-to-peer, impersonation and other scams on the rise to keep your money safe.