List of Ponzi schemes

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This is a list of Ponzi schemes, fraudulent investment operations that pay returns to separate investors from their own money or money paid by subsequent investors, rather than from any actual profit earned.

Historical examples[edit source | edit]

19th century[edit source | edit]

20th century[edit source | edit]

1920s[edit source | edit]

1930s[edit source | edit]

1980s[edit source | edit]

1990s[edit source | edit]

21st century[edit source | edit]

Other notable schemes[edit source | edit]

Other notable (but involving smaller amounts of money) Ponzi schemes include:

See also[edit source | edit]

References[edit source | edit]

  1. ^ a b Zuckoff, Mitchell. Ponzi's Scheme: The True Story of a Financial Legend. Random House: New York, 2005. (ISBN 1-4000-6039-7)
  2. ^ The Incredible Ivar Kreuger, Allen Churchill; Weidenfeld, London; Rinehart & Co., New York; 1957
  3. ^ Visão, Apanhados pelos selos, May 18, 2006.
  4. ^ CanalSurWeb, Banqueros del pueblo, May 12, 2006
  5. ^ Legal City, Scams and other money-making schemes.
  6. ^ "People v. Greenberg",176 Mich App 296, 299; 439 NW2nd 336(1989) cited in U.S. Supreme Court, 05-1342, Watters vs Wachovia Bank, page 6. At [1] American Bar Association site ABAnet.com. Retrieved August 29, 2007.
  7. ^ [2] Keyfetz, Lisa, "The home ownership and equity protection act of 1994: extending liability for predatory subprime loans to secondary mortgage market participants". Loyola Consumer Law Review, Vol 18:2, pages 165-166. Retrieved August 29, 2007.
  8. ^ "Rogers & Wells Settles Suit". New York Times. March 31, 1986. 
  9. ^ "J. David Case: Damages Set". New York Times. August 28, 1987. 
  10. ^ Bauder, Donald (Fall 1986). "Captain Money and the Golden Girl: The J. David Affair.". The Journal of San Diego History (San Diego History Center) 32 (4). Retrieved November 26, 2010. 
  11. ^ Rancho Santa Fe, California
  12. ^ Lindsey, Robert (August 21, 1985). "Retrial of San Diego Mayor is Opened". New York Times. 
  13. ^ "20-Year Term For Dominelli". New York Times. June 25, 1985. 
  14. ^ Rob Shikina (November 25, 2010). "Con man Rewald directs a Los Angeles talent agency". Honolulu Star-Advertiser. Retrieved January 7, 2011. 
  15. ^ "Rewald Convicted in Hawaiian Trial". Spokane Chronicle. Associated Press. 22 October 1985. Retrieved January 7, 2011. 
  16. ^ Oberhuber, Nadine (November 15, 2007). "Damara Bertges - European Kings Club-Chefin: Die Königin und ihr Gefolge - Walhalla - powered by BÖRSE ONLINE". Graumarktinfo.de (in German) (G+J Wirtschaftsmedien Gmbh & Co. KG). Retrieved November 26, 2010. 
  17. ^ "The Bennett Funding Group, Inc". Securities and Exchange Commission. June 20, 2008. Retrieved November 26, 2010. 
  18. ^ "Extremism in America: Greater Ministries International". Anti-Defamation League. Retrieved July 18, 2007. 
  19. ^ Christopher Jarvis, The Rise and Fall of Albania's Pyramid Schemes, Finance & Development: A Quarterly Magazine of the IMF, March 2000.
  20. ^ "Multimillion-Dollar Ponzi Scheme Roils a Long Island Country Club"
  21. ^ Dugger, Celia W. (February 14, 2011). "Partying Amid Poverty Stirs South Africa Debate". The New York Times. p. A4. Retrieved February 18, 2011. 
  22. ^ Indian Express, 24 January 1998
  23. ^ "Cooperative Crisis Continues to Escalate in Haiti" 20 (9). Brooklyn: Haiti Progres. July 24, 2002. Archived from the original on December 27, 2004. 
  24. ^ Washington Post http://www.amcostarica.com/051707.htm
  25. ^ "Lawyers' Indictment in $1 Billion Ponzi Scheme Shocks Legal Circles". New York Lawyer (ALM Properties, Inc.). January 26, 2009. Retrieved November 26, 2010. (registration required)
  26. ^ http://registeredrep.com/news/Herula-jail-sentence/
  27. ^ [3] L.A Times May 24, 2005
  28. ^ [4] Midland Euro FAQ
  29. ^ "Midland Leichner Entities U.S.B.C. Consolidated Case No. SV03-13981GM". November 11, 2010. Retrieved November 26, 2010. 
  30. ^ [5] Ponzi Court Case: Dean Tanella
  31. ^ [6] GunnAllen Financial
  32. ^ [7]"Finra shuts down GunnAllen" - March 22, 2010 - Investment News
  33. ^ [8] Safe Harbor Capital Management now dba HarborLight Capital Management
  34. ^ [9]"Error Times $40 million: Scam Trips Up a Pro" - June 9, 2003 - St Petersburg Times
  35. ^ Flaccus, Gillian (May 27, 2006). "Calif. Man Gets 30 Years for Ponzi Scheme". The Washington Post. Associated Press. Retrieved November 26, 2010. 
  36. ^ The Star, Malaysia, October 4, 2006.
  37. ^ Today, Singapore, January 24, 2007.
  38. ^ Bank Negara, Malaysia, Malaysia, September 5, 2006.
  39. ^ "AD08-18 Sydney fund manager sentenced to jail" (Press release). Australian Securities and Investments Commission. September 19, 2008. Retrieved November 26, 2010. 
  40. ^ "Pearlman, companies face $317 million in claims". Orlando Sentinel. February 6, 2007.
  41. ^ Santos, Tina (August 18, 2007). "Charges filed against 27 in alleged pyramiding scam". Philippine Daily Inquirer (Makati City, Philippines). Retrieved November 26, 2010. 
  42. ^ Aning, Jerome (June 26, 2008). "$250-M ESTAFA, DOJ acts to speed up cases in PIPC scam". Philippine Daily Inquirer (Makati City, Philippines). Retrieved November 26, 2010. 
  43. ^ "Investors 'stuck' High and Dry in Wextrust Fraud Case", The Virginian-Pilot, Oct 23, 2008
  44. ^ "Former Principal of WexTrust Capital Sentenced in Manhattan Federal Court to 262 Months in Prison for Real Estate Investment Fraud Scheme". New York City, New York State. July 18, 2011. Retrieved July 12, 2012. 
  45. ^ Hughes, Art (December 2, 2009). "UPDATE 2-Tom Petters found guilty of Ponzi scheme fraud". Reuters (Thomson Reuters). Retrieved December 10, 2009. 
  46. ^ Appelbaum, Binyamin; Hilzenrath, David S.; Paley, Amit R. (December 13, 2008). "It was all one big lie". The Washington Post. Retrieved May 8, 2010. 
  47. ^ Lucchetti, Aaron (March 10, 2009). "Investors Were Told They Had a Total of $64.8 Billion". The Wall Street Journal. 
  48. ^ Blumenthal, Jeff (June 5, 2009). "Forte pleads guilty in Ponzi scheme". 
  49. ^ Massive buy-to-let scam cracked by fraud squad CityWire
  50. ^ "Suspect in Ponzi Scheme Surrenders on Long Island". The New York Times. January 27, 2009. Retrieved May 8, 2010. 
  51. ^ Wayne, Leslie (March 28, 2009). "Bank of America Accused in Ponzi Lawsuit". The New York Times. Retrieved May 8, 2010. 
  52. ^ City trader Terry Freeman arrested over £40 million fraud Times Online
  53. ^ Krauss, Clifford (January 19, 2012). "Trial Set for Financier Accused in Decades-Long Ponzi Scheme". New York Times. Retrieved 20 January 2012. 
  54. ^ Hays, Tom (February 25, 2009). "2 arrests in NY securities fraud case". Yahoo News. Retrieved February 25, 2009. 
  55. ^ "Ohio woman, 'mini-Madoff', sentenced for Ponzi scheme". ToledoontheMove.com (Barrington Broadcasting). Associated Press. March 13, 2009. Retrieved November 26, 2010. 
  56. ^ Wall, Cleon (March 12, 2009), "Lehi man wanted by federal government in ponzi scheme", Salt Lake City: KSL, retrieved June 12, 2011 
  57. ^ "Court directs Utah man to repay millions in fraud case". The Salt Lake Tribune. June 14, 2011 (updated June 29, 2011). Retrieved July 4, 2011. 
  58. ^ http://www.leagle.com/xmlResult.aspx?page=2&xmldoc=In FCO 20120427042.xml&docbase=CSLWAR3-2007-CURR&SizeDisp=7
  59. ^ a b http://dockets.justia.com/docket/utah/utdce/2:2011cv01170/83038/
  60. ^ http://www.sec.gov/litigation/admin/2012/ia-3397.pdf
  61. ^ https://www.sec.gov/litigation/admin/2012/ia-3442.pdf
  62. ^ http://www.utahcountyonline.org/Dept/Sheriff/Corrections/InmateDetail.asp?id=281844
  63. ^ http://commons.wikimedia.org/wiki/File:Brian_Jared_Smart_criminal_complaint.pdf
  64. ^ http://www.sltrib.com/sltrib/money/54884724-79/smart-elderly-smith-utah.html.csp
  65. ^ "Owner of Chester County Investment Firm Charged with Running Multi-Million-Dollar Ponzi Scheme" (Press release). Philadelphia, Pennsylvania: Federal Bureau of Investigation. April 1, 2010. Retrieved November 26, 2010. 
  66. ^ "Ponzi schemer with ties to MDI gets 17 years in prison", Bangor [Maine] Daily News, May 05, 2011 7:32 pm. Retrieved May 5, 2011.
  67. ^ Pankratz, Howard (April 28, 2010). "Erie man jailed in alleged $10 million Ponzi scheme". The Denver Post. Retrieved November 26, 2010. 
  68. ^ Aguilar, John (April 27, 2010). "Erie man gets 32 years in $10 million investment scam". Boulder Daily Camera (MediaNews Group). Retrieved November 26, 2010. 
  69. ^ Rose, Rob (June 12, 2009). "Duped". Financial Mail. Retrieved November 26, 2010. 
  70. ^ http://www.sec.gov/news/press/2009/2009-247.htm
  71. ^ http://mantria.weebly.com/1/post/2012/01/was-wragg-correct-did-the-sec-jump-the-gun-in-mantria-case.html
  72. ^ http://www.mnn.com/earth-matters/energy/stories/mantria-corporation-the-biggest-green-ponzi-scheme-ever
  73. ^ http://www.leagle.com/xmlresult.aspx?page=9&xmldoc=In%20FDCO%2020110805B71.xml&docbase=CSLWAR3-2007-CURR&SizeDisp=7
  74. ^ Scott Rothstein Charging Document
  75. ^ Detention Order (Document 8), U.S. v. Scott W. Rothstein (09-CR-60331-CR-COHN, United States District Court for the Southern District of Florida), December 1, 2009. Retrieved November 26, 2010.
  76. ^ Jones, Ashby (June 10, 2010). "Rothstein Draws 50-Year Sentence". The Wall Street Journal. 
  77. ^ [10], BULLETIN: SEC Charges Jason Bo-Alan Beckman In Trevor Cook Ponzi Scheme; Judge Freezes Assets; Agency Says Investors' Cash Used To Make Child Support Payments And Puchase 'Luxury Homes' And Cars By PatrickPretty.com 11:42 am Mar 9, 2011
  78. ^ [11] Fallout from Cook's Ponzi scheme widens: Bo Beckman's attorneys file suit over unpaid legal bills, while L. Edward Baker files for bankruptcy protection. Saturday, June 26, 2010 5:56 AM
  79. ^ [12] New charges in $194 million Ponzi scheme Article by: DAN BROWNING and DAVID PHELPS , Minneapolis Star Tribune staff writers Updated: March 7, 2011]
  80. ^ [13] Beckman says he was no 'ringleader' in Cook's scheme Article by: DAN BROWNING , Minneapolis Star Tribune Updated: August 3, 2011
  81. ^ www.nickstein.com/.../mensch-next-door-charged-with-ponzi-scheme/
  82. ^ www.cbc.ca/news/canada/story/2010/11/15/tzvi-erez.html
  83. ^ Edward A. Allen, David L. Olson, and A and O Investments, LLC
  84. ^ http://sanibel-captiva-islander.com/page/content.detail/id/511873/Risher-charged--held-in-elaborate-Ponzi-scheme.html?nav=5051
  85. ^ http://www.wtsp.com/news/article/195919/250/Alleged-Ponzi-scheme-costs-Polk-residents-millions
  86. ^ http://s3.documentcloud.org/documents/201919/james-risher-complaint-affidavit.txt
  87. ^ Bay, Tampa (August 29, 2011). "Risher pleads guilty in $21M Ponzi scheme". 
  88. ^ http://www.brooklynpaper.com/stories/34/50/dtg_heightscinemaponzi_2011_12_16_bk.html Moviehouse Madoff! Former Heights Cinema owner pleads guilty to Ponzi scheme
  89. ^ http://www.sec.gov/news/press/2011/2011-266.htm
  90. ^ http://www.businessweek.com/news/2011-12-16/sec-says-utah-family-used-mormon-ties-for-220-million-fraud.html
  91. ^ http://managementsolutionsreceivership.com/
  92. ^ http://www.sec.gov/news/press/2012/2012-160.htm
  93. ^ http://www.sec.gov/litigation/complaints/2012/comp-pr2012-160.pdf
  94. ^ http://www.forbes.com/sites/jordanmaglich/2012/08/18/feds-halt-alleged-600-million-zeekrewards-ponzi-scheme-how-it-happened-and-whats-next/
  95. ^ https://bitcointalk.org/index.php?topic=50822.0
  96. ^ https://en.bitcoin.it/wiki/Pirateat40
  97. ^ https://bitcointalk.org/index.php?action=profile;u=35827
  98. ^ http://bitcoinmagazine.com/the-pirate-saga-and-so-it-ends/
  99. ^ http://www.theverge.com/2012/8/27/3271637/bitcoin-savings-trust-pyramid-scheme-shuts-down
  100. ^ https://bitcointalk.org/index.php?action=profile;u=35827;sa=showPosts
  101. ^ http://articles.timesofindia.indiatimes.com/2012-09-05/coimbatore/33614860_1_emu-meat-emu-contract-susi-farms
  102. ^ http://thestar.com.my/news/story.asp?file=/2012/11/1/nation/12253854&sec=nation
  103. ^ http://www.defimedia.info/defi-quotidien/dq-actualites/item/29824-gigantesque-escroquerie-soupconnee-l-assets-forfeiture-unit-s-interesse-au-couple-ramloll.html
  104. ^ (French) "Tunisie, Yosr Développement : Adel Dridi aurait quitté le pays laissant derrière lui désolation et amertume", Tunisie Numérique, June 21, 2013
  105. ^ http://www.internetfraud.usdoj.gov/
  106. ^ "Hickman gets 8 years, son 5 years". Scam Report. San Diego, CA: National Ethics Bureau. September 23, 2004. Retrieved November 26, 2010. 
  107. ^ [14][dead link]
  108. ^ "Fidelity National Capital Investors, Inc.: Admin. Proc. Rel. No. 34-49824 (File No. 3-11514)". Securities and Exchange Commission. June 8, 2004. Retrieved November 26, 2010. 
  109. ^ http://www.usdoj.gov/usao/cac/pr2005/087.html
  110. ^ "Man Pleads Guilty to Federal Charges after Swindling more than $24 Million from Local Victims". U.S. Immigration and Customs Enforcement. November 16, 2005. Retrieved December 23, 2007.
  111. ^ "Spain arrests nine on stamp fraud". BBC News. May 10, 2006. Retrieved May 8, 2010. 
  112. ^ Robinson, Charles (August 16, 2011). "Renegade Miami football booster spells out illicit benefits to players". Yahoo! Sports. Retrieved August 23, 2011. 
  113. ^ {http://www.newser.com/article/d9p5nbj00/convicted-ponzi-schemer-nevin-shapiro-tells-yahoo-sports-he-gave-gifts-to-miami-athletes.html}
  114. ^ {http://blogs.miaminewtimes.com/riptide/2010/09/nevin_shapiro_miami_beach_ponz.php}

Further reading[edit source | edit]

External links[edit source | edit]