A look back at 2009: The Year of the Ponzi
By InvestmentNews Staff
December 29, 2009
If it felt like you were reading a story about a different Ponzi scheme nearly every day, that's because you probably were: There were an estimated 150 such investment scams broken up this year, for an average of roughly three Ponzis a week in 2009.
That, of course, does not include the most notorious Ponzi schemer -- Bernie Madoff-- who was busted last December and is now serving a 150-year sentence in prison for bilking investors out of an estimated $65 billion.
There were nearly four times as many Ponzi schemes uncovered this year than there were in 2008. Some were relatively obscure, yet others defrauded investors out of billions. Here's a look at the most notable Ponzis of 2009, or the story behind the stories you've read all year.
The images include the victims, the perps -- and their spoils: View the year of the Ponzi, in pictures via this link: http://www.investmentnews.com/apps/pbcs.dll/gallery?Site=CI&Date=20091229&Category=FREE&ArtNo=122909998&Ref=PH&Params=Itemnr=1
December 29, 2009
If it felt like you were reading a story about a different Ponzi scheme nearly every day, that's because you probably were: There were an estimated 150 such investment scams broken up this year, for an average of roughly three Ponzis a week in 2009.
That, of course, does not include the most notorious Ponzi schemer -- Bernie Madoff-- who was busted last December and is now serving a 150-year sentence in prison for bilking investors out of an estimated $65 billion.
There were nearly four times as many Ponzi schemes uncovered this year than there were in 2008. Some were relatively obscure, yet others defrauded investors out of billions. Here's a look at the most notable Ponzis of 2009, or the story behind the stories you've read all year.
The images include the victims, the perps -- and their spoils: View the year of the Ponzi, in pictures via this link: http://www.investmentnews.com/apps/pbcs.dll/gallery?Site=CI&Date=20091229&Category=FREE&ArtNo=122909998&Ref=PH&Params=Itemnr=1
