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Ponzimonium How Scam Artists Are Ripping Off America (Color)

2015-01-07
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Release : 2015-01-07
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Kind : eBook
Book Rating : 645/5 ( reviews)

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Book Synopsis Ponzimonium How Scam Artists Are Ripping Off America (Color) by : Commodity Futures Commodity Futures Trading Commission

Download or read book Ponzimonium How Scam Artists Are Ripping Off America (Color) written by Commodity Futures Commodity Futures Trading Commission. This book was released on 2015-01-07. Available in PDF, EPUB and Kindle. Book excerpt: In December of 2008, the world learned that legendary investment guru Bernard Madoff made-off with an estimated $50 billion in what was called the "Mother of all Ponzi Schemes." Ponzi schemes, named after Charles Ponzi, are scams in which early "investors" are given supposed returns paid through funds provided by later investors. Typically, an investment is made and then some "profits" are paid out, prompting the investor to assume that his or her money has increased in value. In actuality, the perpetrators of these schemes-Ponzi, Madoff, or the others described in this book-take the money for themselves. The legal term for this kind of taking is "misappropriation." As new investors enter the fraud, supposed returns are offered continually to initial investors, and many times are accompanied by fake account statements. This continues until new money stops flowing in and the investors want their money back. During the 2008 economic downturn, people needed their money back at the same time that there were no new investors. Many "house of cards" scams have fallen and the perpetrators of the swindles have been caught. Charles Ponzi ran these types of scams in the U.S. until he was deported to Italy, his birth-place, in 1934 as an "undesirable alien."

Ponzimonium

2011-10-25 Business & Economics
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Release : 2011-10-25
Genre : Business & Economics
Kind : eBook
Book Rating : /5 ( reviews)

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Book Synopsis Ponzimonium by : Bartholomew H. Chilton

Download or read book Ponzimonium written by Bartholomew H. Chilton. This book was released on 2011-10-25. Available in PDF, EPUB and Kindle. Book excerpt: True stories of crime and punishment that will inform and educate anyone who wants to find out how to identify and avoid becoming entangled in an investment fraud.

Ponzimonium

2016-04-19 Business & Economics
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Release : 2016-04-19
Genre : Business & Economics
Kind : eBook
Book Rating : 921/5 ( reviews)

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Book Synopsis Ponzimonium by : U.S. Commodity Futures Trading Commission (CFTC)

Download or read book Ponzimonium written by U.S. Commodity Futures Trading Commission (CFTC). This book was released on 2016-04-19. Available in PDF, EPUB and Kindle. Book excerpt: Ponzimonium is a book chock-full of advice to educate investors on the scam artists ripping off America. The primary message is that investors should not spend on unregulated companies or individuals who trade unregulated markets—background checks are priceless. The book tells provocative stories such as that of Darren Potter, who cleverly categorized investments in his program as “loans” and ironically became a victim himself of a Ponzi scheme. There is an “Investor Bill of Rights” that pushes investors to question fund lock-up clauses and warns them to be careful of those who do not properly explain obligations and fund expenses, require additional investment capital at a future point in time, or have not appropriately disclosed all risks. Some of the red flags called out in Ponzimonium include a fund’s need for secrecy and whether there are abnormal methods of accepting investments or whether conducting independent research on the fund is difficult. This is a must-read for anyone new or old to investing and the pitfalls that could make or break your bank.

Ponzimonium How Scam Artists Are Ripping Off America (Black and White)

2015-01-07
Download Ponzimonium How Scam Artists Are Ripping Off America (Black and White) PDF Online Free

Author :
Release : 2015-01-07
Genre :
Kind : eBook
Book Rating : 652/5 ( reviews)

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Book Synopsis Ponzimonium How Scam Artists Are Ripping Off America (Black and White) by : Commodity Futures Commodity Futures Trading Commission

Download or read book Ponzimonium How Scam Artists Are Ripping Off America (Black and White) written by Commodity Futures Commodity Futures Trading Commission. This book was released on 2015-01-07. Available in PDF, EPUB and Kindle. Book excerpt: In December of 2008, the world learned that legendary investment guru Bernard Madoff made-off with an estimated $50 billion in what was called the "Mother of all Ponzi Schemes." Ponzi schemes, named after Charles Ponzi, are scams in which early "investors" are given supposed returns paid through funds provided by later investors. Typically, an investment is made and then some "profits" are paid out, prompting the investor to assume that his or her money has increased in value. In actuality, the perpetrators of these schemes-Ponzi, Madoff, or the others described in this book-take the money for themselves. The legal term for this kind of taking is "misappropriation." As new investors enter the fraud, supposed returns are offered continually to initial investors, and many times are accompanied by fake account statements. This continues until new money stops flowing in and the investors want their money back. During the 2008 economic downturn, people needed their money back at the same time that there were no new investors. Many "house of cards" scams have fallen and the perpetrators of the swindles have been caught. Charles Ponzi ran these types of scams in the U.S. until he was deported to Italy, his birth-place, in 1934 as an "undesirable alien."

Ponzimonium

2014-03-16 Political Science
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Release : 2014-03-16
Genre : Political Science
Kind : eBook
Book Rating : 580/5 ( reviews)

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Book Synopsis Ponzimonium by : Commissioner Bart Chilton

Download or read book Ponzimonium written by Commissioner Bart Chilton. This book was released on 2014-03-16. Available in PDF, EPUB and Kindle. Book excerpt: Congress created the U.S. Commodity Futures Trading Commission in 1974 as an independent agency with the mandate to regulate commodity futures and option markets in the United States. The CFTC's fellow federal financial regulatory agencies include the Securities and Exchange Commission (SEC), the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board , and the Office of the Comptroller of the Currency (OCC). The CFTC's mandate has been renewed and expanded several times since 1974, most recently with the Dodd-Frank Wall Street Reform and Consumer Protection Act, signed into law by President Barack Obama on July 21, 2010. Dodd-Frank ushers in a new era for the CFTC by expanding its regulatory authority to the over-the-counter derivatives markets. Over-the-counter derivatives previously have not been regulated in the United States and were at the center of the 2008 financial crisis.

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