Ponzi news

Here are some recent news articles and updates about Ponzi schemes:

Recent Ponzi Scheme Cases:

  1. TelexFree Ponzi Scheme: In 2020, the US Department of Justice charged 17 individuals with running a $1 billion Ponzi scheme through the company TelexFree. The scheme promised investors high returns for participating in a voice-over internet protocol (VoIP) business.
  2. OneCoin Ponzi Scheme: In 2019, the US Department of Justice charged 12 individuals with running a $3.7 billion Ponzi scheme through the company OneCoin. The scheme promised investors high returns for buying and trading a cryptocurrency called OneCoin.
  3. ZeekRewards Ponzi Scheme: In 2016, the US Securities and Exchange Commission (SEC) charged the founders of ZeekRewards with running a $1 billion Ponzi scheme. The scheme promised investors high returns for participating in a multi-level marketing (MLM) program.

Ponzi Scheme Investigations:

  1. SEC Charges Crypto Ponzi Scheme: In 2020, the SEC charged a company called BitConnect with running a $2.5 billion Ponzi scheme. The scheme promised investors high returns for lending money to the company, which claimed to be a cryptocurrency lending platform.
  2. FTC Charges Ponzi Scheme: In 2020, the Federal Trade Commission (FTC) charged a company called Digital Altitude with running a $150 million Ponzi scheme. The scheme promised investors high returns for participating in a digital marketing training program.

Ponzi Scheme Prevention:

  1. SEC Warns of Investment Scams: In 2020, the SEC warned investors about the increasing number of investment scams, including Ponzi schemes. The agency advised investors to be cautious of investments that promise unusually high returns with little risk.
  2. FTC Warns of Cryptocurrency Scams: In 2020, the FTC warned investors about the increasing number of cryptocurrency scams, including Ponzi schemes. The agency advised investors to be cautious of investments that promise unusually high returns with little risk.

Ponzi Scheme Statistics:

  1. Ponzi Scheme Victims: According to the SEC, Ponzi schemes have victimized over 10 million people worldwide, with losses estimated to be over $100 billion.
  2. Ponzi Scheme Duration: According to the FBI, Ponzi schemes typically last between 1-5 years, with some schemes lasting up to 10 years or more.
  3. Ponzi Scheme Detection: According to the SEC, the most common red flags of a Ponzi scheme include: guaranteed high returns, lack of transparency, and pressure to invest quickly.

I hope this information is helpful!