“The point is, ladies and gentlemen, that greed, for lack of a better word, is good. Greed is right. Greed works. Greed clarifies, cuts through, and captures the essence of the evolutionary spirit.
Greed, in all of its forms, greed for life, for money, for love, knowledge, has marked the upward surge in mankind and greed, you mark my words, will not only save Teldar paper, but that other malfunctioning corporation called the USA. Thank you very much.” Gordon Gekko in Wall Street
Years ago, back when the internet was still a wonderful, half-understood landscape, and as we were all (or at least most of us) trying to find our way through it, we began seeing a fascinating, but irritating trend starting to flood into our email inboxes.
Probably the best-known type of financial fraud is the Ponzi scheme. Here’s how it works.
27 Apr 2021
Scams come in all shapes and sizes. The financial world is, unfortunately, full of them. But probably the best-known type of financial fraud is the Ponzi scheme. Here’s how a Ponzi scheme works.
The con artist promises to deliver an attractive return to investors in his or her project. Early investors put their money in, and – lo and behold! – they get the huge returns as promised. This encourages more and more people to sign up for the scheme.
However, there is no actual investing going on. Instead the con artist is simply using the new money coming in from fresh investors to pay the so-called “investment returns” to the initial investors. The rest of the money is being creamed off to fund the con artist’s lifestyle.