Ponzi Scheme News

A Ponzi scheme is an investment scam which involves convincing victims of high return rates and small risks using fabricated reports made with returning the revenue for older investors with the money of the new ones. Companies that engage in Ponzi Schemes are only working on attracting new investments without generating any legitimate product. This scheme is named after Charles Ponzi, a Italian con artist, who performed such a scheme in 1920s in the US, costing his investors about $20 million. However, Ponzi’s scam wasn’t the first of its kind, though it was one of the largest. A Ponzi scheme is similar to a pyramid scheme and is performed to this day in different variations. For example, scammers have employed cryptocurrencies and ICOs to perform Ponzi schemes, Bitcoin is often called a variation of a Ponzi scheme and economic bubbles of different stock assets often take on a form of a Ponzi scheme, blowing the real value out of proportion.
Follow up
Forsage members are courting a high risk with the Philippines' securities regulator.
One Month On, Forsage Continues Despite SEC’s Ponzi Warnings
Marie Huillet
2020-08-06T11:45:00+01:00
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News
New suit looks to recover nearly three quarters of a million dollars from alleged ponzi scheme that claimed major altcoin gains amid crypto winter.
New Suit Alleges Idahoan Ponzi Operators Took the Money and Ran
Kollen Post
2020-07-16T16:03:00+01:00
5890
News
One of four men charged with defrauding investors of over $722 million through a long-running cryptomining scheme has pleaded guilty to charges against him.
Accomplice in Alleged $722M Bitcoin Ponzi Scheme Pleads Guilty to Charges
Marie Huillet
2020-07-10T10:22:00+01:00
12487
News
Philippine SEC warns against investment schemes including one based on the Ethreum blockchain it says is a Ponzi scheme.
Philippine SEC Warns Against Crypto Schemes
Ting Peng
2020-07-05T16:30:00+01:00
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Opinion
Crypto itself has only been around for a decade, and the space has already gained its top Ponzi scheme actors. Here are three of them.
The Most Famous Financial Pyramids in the Crypto World
Nick Bel
2020-07-04T11:12:00+01:00
20786
News
A Singapore man was fined $72,000 for operating a multi-level marketing scheme linked to the Ponzi scheme OneCoin.
OneCoin Marketing Scam Operator Fined $72,000 in Singapore
Mohammad Musharraf
2020-07-03T12:18:00+01:00
13124
News
The Philippines Department of Finance warns people that Bitcoin Revolution uses government officials’ names to spread fake news endorsing their business.
Filipino Crypto Scammers Are Impersonating Government Officials for Profit
Felipe Erazo
2020-06-22T21:19:00+01:00
4633
News
Russ Albert Medlin — co-founder of alleged crypto Ponzi scheme BitClub — was arrested in South Jakarta for sexual assault on minors.
Bitcoin Ponzi Scammer Arrested by Jakarta Police for Sexual Assault
Adrian Zmudzinski
2020-06-16T21:33:00+01:00
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