Numlock News: February 26, 2020 • FCC Complaints, Solar Cells, Ponzi Schemes
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By Walt Hickey Ponzis Last year, state and federal authorities uncovered 60 alleged Ponzi schemes. Ponzi schemes — where a fraudster pays early investors large “returns” that are raised from new investors until the whole operation collapses upon itself — were made most famous in 2008, when Bernie Madoff’s $65 billion scheme was discovered. Several others were unearthed in the aftermath of the financial crisis — including a $3.7 billion fraud from Thomas Petters in 2008 and an $8 billion fraud from Allen Stanford in 2009 — but last year a total of
Numlock News: February 26, 2020 • FCC Complaints, Solar Cells, Ponzi Schemes
Numlock News: February 26, 2020 • FCC…
Numlock News: February 26, 2020 • FCC Complaints, Solar Cells, Ponzi Schemes
By Walt Hickey Ponzis Last year, state and federal authorities uncovered 60 alleged Ponzi schemes. Ponzi schemes — where a fraudster pays early investors large “returns” that are raised from new investors until the whole operation collapses upon itself — were made most famous in 2008, when Bernie Madoff’s $65 billion scheme was discovered. Several others were unearthed in the aftermath of the financial crisis — including a $3.7 billion fraud from Thomas Petters in 2008 and an $8 billion fraud from Allen Stanford in 2009 — but last year a total of