In an effort to combat a decade of Ponzi schemes
and ill-capitalized banks, the Central Bank Monday finally ceased issuing licenses for new private banks and commercial lenders.
Altman (2008) points out that New Yorker William Miller (in 1899) should be credited with developing the Ponzi scheme
over two decades before its namesake.
Many investors in connection with the Madoff Ponzi scheme
have committed suicide in the past.
usually collapse on themselves when new investments stop.
investments were made into a so-called There are fears the investments were made into a so-called Ponzi scheme
DAVAO CITY -- The Criminal Investigation and Detection Unit (CIDU) in Eastern Mindanao arrested a man allegedly involved in the P200-million Ponzi scheme
operated by Minerva Co.
The apex court bench said the investigating agency will also look into any other ponzi scheme
involved in chit fund scam in West Bengal, besides Saradha.
The revived Russian Ponzi scheme
, MMM, has reached Armenia.
A group of former investors of the Antigua-based Stanford International Bank (SIB) has filed a civil lawsuit in Dallas, TX against Antigua & Barbuda and the Eastern Caribbean Central Bank (ECCB), claiming that they aided jailed Texas billionaire Allen Stanford in his massive US$7 billion Ponzi scheme
, reports Caribbean360.
By definition, a Ponzi scheme
is limited in duration, and can survive only so long as new investments exceed outflows to existing investors.
Investors in a $7 billion Ponzi scheme
strung together by fraudulent financier and cricket mogul Allen Stanford could finally begin getting back some of what they lost in the next few months.
Picard said in court documents that if the settlement proceeds, it will "thwart the Trustee's efforts to recover funds for equitable distribution to the victims of the Ponzi scheme