Ponzi scheme

Ponzi schemes, it appears, can pop out of anywhere. From the owner of a baseball team, perhaps? The Securities and Exchange Commission (SEC) has charged the Chattanooga Lookouts baseball team owner with “running a massive … Owner of Chattanooga Lookouts accused of running ‘massive Ponzi scheme’ Read More »

Let's give the devils their due. Yeah, they've screwed over thousands of innocent people. But some of them had balls the size of hot air balloons and for that, we must salute them. 5 Charles Ponzi Charles 'The Ponz' Ponzi is, quite simply, one of the greate

Review: Madoff and the Scamming of America – do you want to get a glimpse at the biggest #Ponzi scheme ever? A fun video to watch (in an obtuse way) – Book Review

Zach Horwitz came to Los Angeles hoping to make it in the movies. He ended up running a seven-hundred-million-dollar scam, defrauding a sprawling group of investors, starting with his best friends. Evan Osnos reports.

What is a Ponzi scheme? It's an investment scam that pays returns to investors using their own money or money supplied by later participants, rather than profit produced by the person or company executing the program. Ponzis are called after Charles Ponzi, who made a reputation for himself in the 1920s by employing the method.

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Ponzi and pyramid schemes share many characteristics used to defraud investors by accepting capital that will be used for their own gain, not that of the investors.

A previous new hire working for the malicious multi-level marketing style company known as Smart Circle gives you the inside scoop on the business.