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- Tax Relief for Fraud Victims
- If any of your money disappeared down the rathole known as Bernie Madoff or any of the similar Ponzi operations that came to light last year, the Internal Revenue Service offers you some relief, if not much sympathy. How financial victims can get the tax breaks they deserve... If...
- Articles 2009-03-05
- The Upside of Apocalypse
- Scammed in 2008? Laid off? Your portfolio in tatters? Well, look on the bright side. At least you'll get some tax breaks. Here are three that could make the final reckoning a little less painful. Who could fault you for thinking that 2008 marked the end of the financial...
- Articles 2009-03-09
- Madoff's Right Hand Man
- The Bernard Madoff scandal did not end after Madoff pled guilty to swindling investors out of billions of dollars. Now, his chief financial officer is negotiating with prosecutors. Armen Keteyian reports.
- Videos 2009-04-24
- Madoff Sentenced To 150 Years
- Bernard Madoff has been sentenced to 150 years for being the mastermind of a multibillion-dollar Ponzi scheme. Madoff expressed regret before he received the maximum sentence for his crimes.
- Videos 2009-06-29
- Don't Trust Your Advisor
- Ponzi schemes are proliferating and seasoned advice has fallen short. The only advice left is: Don't trust. Verify. by Kathy Kristof
- Blog posts 2009-05-29
Additional Resources
- Government's Ponzi Scheme: 1000 Times Worse than Madoff's
- Anton Wahlman submits: By now we have heard about Bernie Madoff's $50 billion Ponzi scheme, where the life savings of at least hundreds of people – perhaps thousands – went up in smoke. We are all being told that this represents the biggest Ponzi scheme of all time, by...
- External links 2008-12-19
- Tom Petters Goes To Trial In History's Second-Largest Hedge Fund Ponzi Scheme
- Ed's Note: An earlier version of this article incorrectly stated that Fingerhut had filed for bankruptcy protection. That correction has been made. In Minnesota this week, a trial is quietly getting underway to prosecute the alleged mastermind behind the second largest Ponzi scheme in history....
- Blog posts 2009-10-27
- Wall Street's $300 Billion 'Ponzi Scheme'
- Jeffrey Korzenik submits: A Ponzi scheme is defined as a phony investment program where the introduction of new funds is used to create “profits” for those already in the game. Ponzi schemes typically have some purported economic rationale for the profits, but at the end of the day,...
- External links 2009-02-10
- The Great American Ponzi Scheme (Part I)
- Mortgage banking, for the last ten years or so, has been the biggest Ponzi scheme ever conceived and it has all been legal. Builders, developers, and bankers have been perpetrating what amounts to outright fraud on the American consumer. Don't get me wrong, it is the greed of those consumers...
- External links 2008-12-24
- SEC Sues California's MicroWest Industries Over Alleged Ponzi Scheme.(Originated from The Orange County Register, Calif.)
- Sep. 18--The Securities and Exchange Commission sued an Irvine company Wednesday, alleging that it cheated 190 investors out of $4.25 million in a Ponzi scheme. Sep. 18--The Securities and Exchange Commission sued an Irvine company Wednesday, alleging that it cheated 190...
- Research articles 1997-09-18
- Gamble on ex-con rep backfires; Broker charged with $2.25M Ponzi scheme was under Lincoln's supervision till Dec.(News)
- Byline: Bruce Kelly NEW YORK - A registered representative and convicted felon affiliated with Lincoln Financial Advisors Corp. until December is facing charges of stealing $2.25 million from nine clients in a Ponzi scheme that went to pay hi ...
- Research articles 2006-03-20
- Investors in Ponzi scheme get no sympathy from IRS.(INVESTMENTS)(Brief Article)
- Investors in a Ponzi scheme get no sympathy from the IRS. Investors in a Ponzi scheme get no sympathy from the IRS.
- Research articles 2005-01-14
- The Great American Ponzi Scheme (Part II)
- (Continued from The Great American Ponzi Scheme: Part I) The government didn't step in to regulate these credit default swaps because a boom in all these industries makes people happy - happy enough to re-elect those in office, happy enough to pay more taxes. By the way, because the...
- External links 2008-12-26
- Report: Schick Ran 'Ponzi Scheme'
- Forward 12-13-1996 Report: Schick Ran `Ponzi Scheme'. FORWARD STAFF NEW YORK -- After performing "numerous interviews" and reviewing thousands of documents, the bankruptcy trustee handling the estate of David Schick -- the Orthodox lawyer arrested last spring for pilfering millions of dollars...
- Research articles 1996-12-13
- SEC Busts Giant Ponzi Scheme
- Ponzi schemes seem to be basically affinity scams, built off of ethnic solidarity. Maybe investors should only trust people who aren't their co-ethnics. We could call it "ethnic investment diversification." Or maybe it's a Florida thing. Even Dick Fuld had a place in the Sunshine State. Should the rule be...
- News items 2009-08-07
- 2 Utahns accused of Ponzi scheme
- Two Utah men were arrested this week in connection with a decades- long Ponzi scheme that has reportedly cost hundreds of victims some $30 million. Kenyon Bryce Flake, Alpine, and Clarence William Pack, Draper, are scheduled to appear in Utah's U.S. District Court this morning. Each is charged...
- Research articles 2004-08-19
- SEC says Allentown company ran Ponzi scheme
- The Securities and Exchange Commission is seeking restitution and penalties from an Allentown company that securities regulators say sold $3.9 million in fake certificates of deposit. The SEC's Philadelphia office filed a civil lawsuit Monday in federal court here against IDPM Group Inc. and its principals, Craig H. Reinhard...
- Research articles 2006-03-07
- Hard Drive of Pasadena, Calif., Firm Owner Accused of Ponzi Scheme Is Missing.
- By Dave Melendi, San Gabriel Valley Tribune, Calif. Knight Ridder/Tribune Business News Jun. 13--PASADENA, Calif.--The computer hard drive of the alleged head of a multimillion-dollar Ponzi scheme was removed or destroyed before a federal court-appointed receiver took control of his firm, court...
- Research articles 2002-06-13
- Tampa, Fla., Spa Owner Faces Charges for Role in Ponzi Scheme.
- By George Wilkens, Tampa Tribune, Fla. Knight Ridder/Tribune Business News Feb. 8--TAMPA, Fla.--A Tampa businessman has been arrested by the FBI, charged with fueling his lavish lifestyle by bilking investors of more than $11 million in a Ponzi scheme dating back 17...
- Research articles 2003-02-08
- Executive of California Firm Disputes Federal Charges Linked to Ponzi Scheme.
- The Press-Enterprise, Riverside, Calif. Knight Ridder/Tribune Business News Mar. 6--The president of MX Factors, the Riverside-based firm accused of operating a Ponzi scheme, is seeking to overturn the court order freezing his assets and appointing a receiver, according to court documents....
- Research articles 2004-03-06
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