Ponzi Scheme | Imamother

↑ Amarante

Tue, Dec 26 2023, 2:53 pm

happy7 wrote:

The money is usually gone forever.
It doesn’t exist to give it back.

Money is gone and hopeful the crime has been reported to the police who will track the person down.

It is doubtful that anyone will get their money back because it has probably been spent.

However once the person is arrested, the court will order a person to manage whatever assets there are and track them down.

If he has bought houses, they will be seized. Also if people received more than they actually invested, often there will be a clawback of the excess money. Ponzi schemes generally have winners because the essence of a Ponzi scheme is that there are people who receive money back early which is paid for by the later investments.

The moral of this is that if it is too good to be true, it is too good to be true. Even Madoff was sending out red flags which should have shown people that he was a fraud years before the whole thing collapsed. No one could possibly have provided steady returns of 10% or 12% every year even when the market was in a steep decline/

amother

Lightgreen

Tue, Dec 26 2023, 5:39 pm

amother Dandelion wrote:

There’s a story in Toms River where the guy swindled his own next door neighbors and STILL LIVES ON THE BLOCK! I just don’t get it.

What area?