"Largest Ever Ponzi Scheme In Maryland" Rocks Investors, $345 Million Vanishes
Three people are in custody after what was announced as the biggest Ponzi scheme in Maryland history.
Totally $345 million from investors, the scam was touted as being able to resell consumer debt to investors. The con artists were able to draw in money from individuals such as small business owners, athletes, lawyers, accountants, and retirees.
They were also able to bring in money from feeder funds.
In typical Ponzi scheme fashion, roughly $200 million of the total was used to pay earlier investors.
Click on image to read full article.
Yeah ponzi scheme has done so much damage to the global economy
This is a case of DYR...Many prolly saw Merrill and failed to see that wasn't Lynch behind the dash....Greed is often a very costly 'investment'.
Peace.
Bitconn-eeeeeeeect!!!
213 years in prison...?
yet big bankers still dont get one and slaps on wrists?
Living in Maryland, I find this disturbing...
powman
https://pocketchangeriches.com
Yikes! Does that ever suck.
Ponzis schemes are always a bad thing and for this case a 364$ million frauded are really upsetting....
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