According to a Los Angeles FBI press release, an Orange County man pleaded guilty to federal fraud charges related to a long-running Ponzi scheme in which he collected more than $15 million from investors with bogus promises of annual returns as high as 18 percent.
Archive for Ponzi Scheme
Another One Bites The Dust: Ponzi Scheme
Posted in Fraud, Investments, Personal Finance with tags Fraud, Investments, Ponzi Scheme on April 8, 2009 by VickyThe Man Who Figured Out Madoff’s Scheme
Posted in Fraud, Investments, Pension, Retirement with tags Bernard L. Madoff, Fraud, Investments, Ponzi Scheme on March 12, 2009 by Vicky
Another interesting broadcast by 60 Minutes that raises even more questions about the Madoff Ponzi Scheme.
60 Minutes excerpt:
It has been two and a half months since Bernard L. Madoff was picked up and charged with what is believed to be the largest financial fraud in history. Yet we still don’t know much more about the alleged $50 billion scam than what Madoff initially told the FBI agents who arrested him. There are still no indictments as federal prosecutors continue to unravel the case and try to figure out exactly what happened and who was involved.
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