|
|
|
|
| |
|
 |
|
|
February 10,
2002 |
MOST OF THE MONEY GOES TO THE CROOKS
|
| Intro: |
| |
Ponzi schemes are named after Charles K. Ponzi, a 1920s-era swindler
who purportedly invested his clients' money in postal coupons but
secretly paid investors from the money he collected from later
investors.
The Web hosts thousands of programs that promise to earn customers
returns of 150 percent to 200 percent a month by investing in
offshore trading and other international opportunities. |
| |
| Excerpt: |
"In Ponzi schemes, it's extremely common for people
at the beginning to get high returns," said
David Marchant, a Miami-based publisher of newsletters
exposing offshore investment scams.
"You put $2,000 in and get $4,000 back. The problem is that human
nature is to put that $4,000 back in -- then, when they get $8,000
back, they mortgage the house and lose everything. At the end of the
day, the overwhelming majority of money ends up in the hands of
crooks." |
| |
| |
| |
|
For complete story
refer to original source by clicking on logo
|
|
|
