Ponzi Scheme

Ponzi Scheme

Owners of Vermont Ski Resort Jay Peak Ran a ‘Ponzi-Like’ Scheme, SEC Says

One allegedly used investor funds to pay his income taxes. The owners of a northern Vermont ski resort operated a “Ponzi-like” scheme, spending $50 million of investor funds intended for an expansion of the property on personal expenses including a condo, U.S. financial regulators ...Read More

The Chinese exchange that lured 220,000 investors may have been a giant Ponzi scheme

Thousands of Chinese investors who have sunk an estimated $6 billion into Fanya Metal Exchange are trying to get their money back throughpublic protests and even, at one point, kidnapping the exchange’s founder and turning him in to the police. The government has mostly ...Read More
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