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МММ was a Russian company that perpetrated one of the world's largest Ponzi schemes of all time. By different estimates from 5 to 40 million people lost up to $10 billion. The company started attracting money from private investors, promising annual returns of up to 1,000%.
International Gold Bullion Exchange was one of two major frauds involving sale of gold bullion in 1983, with Bullion Reserve of North America in Los Angeles also being shut down later that year, with losses to customers of $60 million. [6] These frauds came at a time when gold prices had soared and gold as an investment was popular.
Examples include the diamond hoax of 1872 and the Bre-X gold fraud of the mid-1990s. This trick was featured in the HBO series Deadwood, when Al Swearengen and E. B. Farnum trick Brom Garret into believing gold is to be found on the claim Swearengen intends to sell him. This con was also featured in Sneaky Pete.
The Justice Department has charged 64 people in a fraud case they say bilked $300 million from more than 100,000 victims. Scam artists selling bogus magazine subscriptions ripped off $300 million ...
A Ponzi scheme (/ ˈpɒnzi /, Italian: [ˈpontsi]) is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors. [1] Named after Italian businessman Charles Ponzi, this type of scheme misleads investors by either falsely suggesting that profits are derived from legitimate business ...
September 9, 2024 at 2:06 PM. SEQUIM, Wash. - Police in Sequim arrested the owner of Gold Rush Jewelry and Coin in August, linking a search warrant to an alleged fraud case with more than $100,000 ...
Scott W. Rothstein (born June 10, 1962) is an American disbarred lawyer, convicted felon, and the former managing shareholder, chairman, and chief executive officer of the now-defunct Rothstein Rosenfeldt Adler law firm. He funded an extravagant lifestyle with a $1.2 billion Ponzi scheme, one of the largest such in history. [1][2]
The Mantria Corporation Ponzi scheme has been described as the "biggest green energy scam" in United States history. A Federal judge in the Securities and Exchange Commission's civil case found Mantria had scammed more than $54.5 million “by egregiously, recklessly, knowingly, and shamelessly perpetrating a fraudulent scheme” that used “misrepresentations, omissions, and blatant lies to ...