Ponzi scheme

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Big Wall Street Firms Rig the Stock Market

60 Minutes’ Steve Kroft interviewed Michael Lewis, author of the new book “Flash Boys” that documents how Wall Street has rigged electronic trading to benefit […]

Madoff 5 Years Later – Part 2, FINRA

A little over five years ago, Bernie Madoff confessed that for decades he had been running a massive Ponzi scheme.  February 4th marked the 5 year anniversary of the testimony of Harry Markopolos before the U.S. House of Representatives Committee on Financial Services.  Markopolos spent eight years repeatedly trying to prompt the SEC to take action against Madoff, which it never did.

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By |February 5th, 2014|Categories: Scams|Tags: , , , , , , , |1 Comment

Madoff 5 Years Later – Part 1, The SEC

A little over five years ago, on December 10, 2008, Bernard Madoff’s sons informed law enforcement authorities that their father confessed to them that he had been running a massive Ponzi scheme for decades.  Madoff’s confession was prompted by the massive calls for redemption triggered by the calamitous events in the financial markets in late 2008 and the obvious impossibility of luring new money into his Ponzi scheme.  Importantly, Madoff confessed his Ponzi scheme when it no longer functioned.  It was not a case cracked by regulatory or law enforcement authorities. […]

By |February 4th, 2014|Categories: Scams|Tags: , , , , , , |0 Comments

How to Avoid the Next Investment Scam!

Over lunch a friend tells you about an investment he’s bought that’s making great returns. Over the past month it’s returned over 30%! He tells […]

How is Bad Advice Different Than a Scam?

One key difference is bad financial advice is legal. Investment scams, such as Ponzi schemes, are illegal. There is no way regulatory agencies can mandate […]

U.S to Lose Triple A Rating?

It seems that news sources have been inundating us with the opinions of economists that have stated if the Bush tax cuts are not maintained […]