Ponzi scheme


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Related to Ponzi scheme: hedge fund, MMM, pyramid scheme, Bernie Madoff

Ponzi scheme:

see under Ponzi, CharlesPonzi, Charles or Carlo,
1882–1949), Italian-American swindler. He came to the United States from his native Italy in 1903, then went in 1907 to Canada, where he was convicted of check forgery.
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References in periodicals archive ?
Court of Appeals for the District of Columbia Circuit upheld a 2012 district court ruling that the Securities and Exchange Commission (SEC) failed to prove victims of the Ponzi scheme are customers eligible for compensation by the Securities Investor Protection Corporation (SIPC) under the narrow definition of the law.
While this type of fraudulent investment scheme was not originally invented by Ponzi, it became so identified with him that it now is referred to as a Ponzi scheme.
Members to this SRO were 20 of 22 consumer credit cooperatives participating in a large-scale Ponzi scheme that operated in several Russian regions.
Pudit Kittithradilok, 34, admitted to the court on Friday of running a Ponzi scheme whereby he promised investors artificially high financial returns, reports the BBC.
The Madoff Ponzi scheme defrauded investors of between $10 billion and $65 billion (Carozza, 2009).
David Gledhill, chief information officer at the bank said, 'We see bitcoin as a bit of a ponzi scheme.
Murphy invested $7 billion into Madoff's Ponzi scheme before it collapsed in 2008, leaving Murphy without a job.
Pearlman's PS230 million Ponzi scheme was uncovered in 2006.
Congress continues to magnify the Ponzi scheme by extravagant spending, far in excess of the government's income.
An ad hoc committee set up by Bulgariaas Parliament to look into the collapse of the countryas fourth-largest lender last week releasedA its conclusions, in which it saidA Vasilev had been running the bank as a Ponzi scheme which led to its insolvency.
But the multi-millionaire has been "stung" by a Ponzi scheme in the US state of Michigan, where she is believed to have bought more than 100 houses.
The apex court, while disposing of a PIL seeking a direction to CBI probe into Rs700 crore ponzi scheme scam involving firms other than Saradha in West Bengal, said "we have made it clear to CBI that it will have to investigate the cases which have been transferred to it.