All fraud victims have the right to sue
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Many people do not realize that all fraud victims have the right to sue those who in fact ripped them off. This right even extends to persons who were victims of scams perpetuated by criminals in foreign countries.
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potential investors submit bids for the number of bonds within each quality rank they wish to
repurchase (the existing holders) or newly purchase (the potential investors) and the minimum
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then ranked from low to high, and the highest interest rate at which all of the bonds within a given
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municipal ssuers because they seemed to add the flexibility of short-term bonds to the steadiness
f long-term securities. Individuals were attracted by the interest rates that so clearly eflected actual
market demand and the periodic opportunities to get their money backwhenever they wished. By
early 2008 , the auction mate security market had grown to pare than $200 billion. Because of the
dual need to submit new bids each month and to proberage firms or investment houses to manage
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rate securities they held. gedy, there were no bidders at the regularly. the start of the credit crunch
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February 14, 2019
Abstract
Ponzi schemes date back in 1920’s when Charles Ponzi got involved in a disreputable money generating scheme. Initially the scheme had been tried without success but Charles managed to be the first person to embezzle millions from rather ignorant and innocent credulous people. This is the main reason the scheme bears Ponzi’s name. Later in 2008, one of the Ponzi’s conspirators was brought to the light. Madoff had conned investors of their money for close to thirty years. Unfortunately, the conned investors were all classy and literate. This paper is aimed at providing brief history of the Ponzi schemes and an illustration of how Ponzi schemes work. The second aim of the paper is to give examples of historically popular Ponzi schemers. In addition the paper provides some common characteristics of Ponzi schemes to be able to facilitate easy identification of illegal Ponzi schemes. The paper ends by providing hints on how to avoid unlawful and notorious Ponzi schemes. Comment by Lamar, Angelo: Keep up the good work here.
Introduction Comment by Lamar, Angelo: The title to your paper should go above this heading.
Ponzi schemes are typical fraudulent investments in which the owner promises the investors abnormally high financial returns from their investment. The scheme operator does not invest the investors’ money; instead, the operator uses the funds from new investors to pay the already existing investors their dividends. The schemes operate smoothly until they lack adequate subsequent investors to sustain payment of dividends to existing investors. This is according to the federal bureau of investigation’s definition of Ponzi schemes. A Ponzi scheme may also seize to operate when the notorious, illegal and fraudulent business is discovered by the government or any other legal authority. Comment by Lamar, Angelo: If so, where is the citation? If information does not come from you then give credit to where it came from.
According to the business dictionary Ponzi schemes are scams which operate on the hope of continued increase in the number of incoming investors to facilitate paying the returns to the former investors. The operations come to a halt when the amount of money getting out of the business exceeds the incoming amount. However, the schemers are wise enough to flee before the business crashes down. In this scenario the schemer tends to escape with large.
Running Head Ponzi Schemes .docx
Running Head: Ponzi Schemes 1
Ponzi Schemes 11
Running head (Header not in proper APA format)
Ponzi Schemes Comment by Lamar, Angelo: Center please.
Latoya Smith
Bethel University
MOD 450
Dr. Angelo Lamar
February 14, 2019
Abstract
Ponzi schemes date back in 1920’s when Charles Ponzi got involved in a disreputable money generating scheme. Initially the scheme had been tried without success but Charles managed to be the first person to embezzle millions from rather ignorant and innocent credulous people. This is the main reason the scheme bears Ponzi’s name. Later in 2008, one of the Ponzi’s conspirators was brought to the light. Madoff had conned investors of their money for close to thirty years. Unfortunately, the conned investors were all classy and literate. This paper is aimed at providing brief history of the Ponzi schemes and an illustration of how Ponzi schemes work. The second aim of the paper is to give examples of historically popular Ponzi schemers. In addition the paper provides some common characteristics of Ponzi schemes to be able to facilitate easy identification of illegal Ponzi schemes. The paper ends by providing hints on how to avoid unlawful and notorious Ponzi schemes. Comment by Lamar, Angelo: Keep up the good work here.
Introduction Comment by Lamar, Angelo: The title to your paper should go above this heading.
Ponzi schemes are typical fraudulent investments in which the owner promises the investors abnormally high financial returns from their investment. The scheme operator does not invest the investors’ money; instead, the operator uses the funds from new investors to pay the already existing investors their dividends. The schemes operate smoothly until they lack adequate subsequent investors to sustain payment of dividends to existing investors. This is according to the federal bureau of investigation’s definition of Ponzi schemes. A Ponzi scheme may also seize to operate when the notorious, illegal and fraudulent business is discovered by the government or any other legal authority. Comment by Lamar, Angelo: If so, where is the citation? If information does not come from you then give credit to where it came from.
According to the business dictionary Ponzi schemes are scams which operate on the hope of continued increase in the number of incoming investors to facilitate paying the returns to the former investors. The operations come to a halt when the amount of money getting out of the business exceeds the incoming amount. However, the schemers are wise enough to flee before the business crashes down. In this scenario the schemer tends to escape with large.
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- 1. All Fraud Victims have the Right to Sue Many people do not realize that all fraud victims have the right to sue those who in fact ripped them off. This right even extends to persons who were victims of scams perpetuated by criminals in foreign countries. Not only can you sue the con artists who ripped you off, but you can also sue anybody else who was involved in the scam including banks, or others that moved money, investment companies that introduced you to the fraudster or employed him and media outlets that advertised or promoted the fraud. You can even sue foreign governments that protect scam artists and cover up their activities. There are several reasons why investors and other victims should sue scam artists and those who help them. They include: • Authorities do not always prosecute con artists. Such cases can be expensive and complex and simply too costly for prosecutors to touch. Such cases can also be hard to win. • The standard of proof in civil court is much lower. It is often easier to prove a fraud case in a civil lawsuit than in a criminal prosecution. • The criminals and those who help them will have to use their money to hire lawyers to defend themselves in a civil case. • Lawsuits can result in public exposure of fraud artists and their enablers. A recent example is the case of a group of investors in an Abu Dhabi insurance company. They lost $18 million to fraud and were not able to get the UAE government take action. They were able to generate a lot of negative publicity by hiring New York attorney Howard Fensterman to sue in U.S. Court those they said were responsible. Something to remember is that any records from a civil action are public record, so the press has a right to report them. • It is entirely possible that you will win at least part of your money back. Persons who sued the brokerage, Securities America, after its brokers sold investments in pyramid scams were able to get $150 million in judgments against the brokerage. • Other actions may result. Ameriprise Securities America’s owner was so embarrassed by the lawsuits it decided sell its subsidiary even though Securities America had been making record profits.