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Ponzi Scheme

Zach Carter

What Do Chase Bank, Condoms, The Tea Party, And Petty Fraud Have In Common?

HuffingtonPost.com | Zach Carter | Posted 03.31.2014 | Politics

In mid-March, a division of JPMorgan Chase rejected an application to process payments for the fledgling New York City condom company Lovability, citi...

5 Ex-Madoff Employees Found Guilty

AP | LARRY NEUMEISTER | Posted 03.25.2014 | Business

NEW YORK (AP) — Imprisoned financier Bernard Madoff's claim that he carried out a nearly $20 billion fraud by himself has been firmly rejected by a ...

The Real Wolf of Wall Street

Bob Swarup | Posted 02.27.2014 | Business
Bob Swarup

I have seen the movie The Wolf of Wall Street and enjoyed it quite a lot, though that loud brash generation is more muted these days. But it made me wonder, have we seen the last of the scam artist investor?

The Bitcoin Is Victim of a Ponzi Scheme While Regulators Sleep

Georges Ugeux | Posted 03.29.2014 | Business
Georges Ugeux

When the Federal Reserve Board pronounces that virtual "currencies like Bitcoin have legitimate uses and should not be banned," it commits two sins.

Goldman Sachs 'Doing God's Work'

Jim Treacy | Posted 01.23.2014 | Business
Jim Treacy

I assume Segarra's suit isn't the publicity Blankfein was hoping for, and I wonder what's going on at the NY Fed. When I was at Monster Worldwide, I experienced first-hand Goldman Sachs "doing God's work."

Bank Pays Millions In Charges Tied To Ponzi Scheme

AP | By MARCY GORDON | Posted 11.23.2013 | Business

WASHINGTON (AP) — TD Bank is paying $52.5 million to settle U.S. allegations it failed to report suspicious activity in accounts linked to a $1.2 bi...

The Julian Petroleum Scandal and the Murder of Hollywood Icon Motley Flint

Casey Scharf | Posted 09.16.2013 | Crime
Casey Scharf

This July, some eight and a half decades after my great-grandfather's psychotic breakdown and subsequent murder of Motley Flint, my family remembers how little things have changed.

The Wonderful Emergence of Tom Durnin

Danny Groner | Posted 08.27.2013 | New York
Danny Groner

The Unavoidable Disappearance of Tom Durnin raises fabulous questions about the strength of family ties amid a father's struggle to resurrect his life after a moral and financial failing.

LOOK: Museum of Crime & Punishment's Bernie Madoff Exhibit

The Huffington Post | Will Wrigley | Posted 05.17.2013 | DC

Oh, Bernie. How we've missed you. Your Ponzi scheme. The money laundering. The perjury. It's a long time until 2139 when we'll be able to see you o...

How Tax Havens Supported A Massive Ponzi Scheme

ICIJ | Marina Walker Guevara and Emilia Díaz-Struck | Posted 04.05.2013 | Business

Bribes for Venezuelan officials were funneled through tax havens, court filings claim. Francisco Illarramendi often called on Moris Beracha when he...

Small Town Duped By Massive Ponzi Scheme

AP | Posted 05.30.2013 | Business

LEXINGTON, N.C. (AP) — In a story March 30 about a $600 million investment scam, The Associated Press, relying on information from state regulators,...

NewBook Reveals Juicy Details Of Ponzi Schemer's Life

Sun Sentinel | Ben Crandell | Posted 05.12.2013 | Miami

Every region of the country has its Ponzi villain, but it's hard to imagine another who could match Fort Lauderdale's pugnacious despot Scott Rothstei...

Currency Wars Have Begun: Central Banks in Denial or Worse

Mitch Feierstein | Posted 05.06.2013 | World
Mitch Feierstein

Take, for example, the Fed's willingness to purchase toxic real estate assets -- using your money to acquire securities which are now shunned by the market. Or take the Bank of England's efforts to shove easy money at banks making corporate loans. What happened to good old-fashioned faith in markets?

Former NFL Player's Alleged Art Scam Could Result In 110 Years In Jail

The Huffington Post | Katherine Brooks | Posted 02.28.2013 | Arts

According to Investment News, a painting by French Post-Impressionist artist Paul Gauguin is at the center of an investment scandal, enacted by former...

Winans Family Member Sentenced To Nearly 14 Years In Prison

AP | ED WHITE | Posted 04.29.2013 | Black Voices

DETROIT -- A judge sentenced a member of gospel music's Winans family to nearly 14 years in prison Wednesday for an $8 million financial scam that was...

Madoff: 'The Banks Had To Know What I Was Doing'

Posted 02.24.2013 | Business

Big banks had to know Bernie Madoff was running a Ponzi scheme, according to Bernie Madoff. In an email penned from jail, one of the biggest Ponzi...

Atlanta Megachurch Pastor Sued Over Alleged Ponzi Scheme

Religion News Service | Adelle M. Banks | Posted 02.19.2013 | Religion

(RNS) Atlanta megachurch pastor Bishop Eddie Long is facing a suit from former parishioners who say he encouraged them to invest in a company that was...

Former Execs Sentenced To 20 Years In Prison In Major Ponzi Scheme

Reuters | Posted 02.14.2013 | Business

(Reuters) - The final two defendants convicted for helping the former Texas billionaire financier Allen Stanford swindle investors were each sentenced...

Bernie Madoff Almost Caused The Mets To Build A Casino

The Huffington Post | Harry Bradford | Posted 02.05.2013 | Business

The owners of the New York Mets reportedly want to build a Las Vegas-style hotel and casino to help pay off a huge bill they owe the victims of Bernie...

Disgraced CEO Sentenced To 50 Years In Prison

Reuters | Posted 04.02.2013 | Business

By P.J. Huffstutter CEDAR RAPIDS, Iowa, Jan 31 (Reuters) - Russell Wasendorf Sr., who admitted looting more than $100 ...

Peter Madoff Gets 10 Years In Prison For Role In Ponzi Scheme

Reuters | Posted 12.20.2012 | Business

NEW YORK, Dec 20 (Reuters) - Peter Madoff will serve 10 y ears in prison for his role in his older brother's multibillion-dollar Ponzi scheme, a U.S. ...

A Song for the Holidays: On the First Day of Christmas, What Greedy Bankers and Politicians Gave to Me

Mitch Feierstein | Posted 02.18.2013 | Business
Mitch Feierstein

How have the U.S. middle classes even vaguely been able to sustain their living standards? Answer: by taking on unpayable debt that chokes the financial system and throttles economic growth. It's an appalling situation and it's not set to change.

This May Not Seem So Funny Anymore

AP | TOM LoBIANCO | Posted 01.30.2013 | Business

INDIANAPOLIS — An Indiana financier and former chief executive of National Lampoon convicted of swindling investors out of about $200 million wa...

Afghan Bank Scandal Details Emerge: A 'Well-Concealed Ponzi Scheme'

www.nytimes.com | Posted 11.27.2012 | World

KABUL, Afghanistan — Kabul Bank became Afghanistan’s largest financial institution by offering the promise of modern banking to people who had nev...

Youngest Ponzi Schemer Ever?

Sun Sentinel | Jon Burstein | Posted 01.23.2014 | Miami

He's a model/actor/world traveler who now finds another title affixed to his name -- alleged Ponzi schemer. Beyond his pin-up good looks and dazzling...