The Greatest Scams

From this section you will learn everything about the greatest financial fraudsters and their scams.

the-greatest-scams - Classic Cons: the Panama Canal Bubble (Part 3)

Classic Cons: the Panama Canal Bubble (Part 3)

This is the part 3 of the “Classic Cons: the Panama Canal Bubble” article. Read the Part 2. The investigation revealed such grandiose scale of corruption at all the levels of the...

the-greatest-scams - Classic Cons: the Panama Canal Bubble (Part 2)

Classic Cons: the Panama Canal Bubble (Part 2)

This is the part 2 of the “Classic Cons: the Panama Canal Bubble” article. Read the Part 1. But, most of all, the hero of Suez was proud of financial success of his enterprise. A...

the-greatest-scams - Classic Cons: The Panama Canal Bubble (Part 1)

Classic Cons: The Panama Canal Bubble (Part 1)

Building the Panama Canal is one of the brightest “bubbles” of the XIX century bursting at the stock market. The word “Panama”, which became common noun, marked the beginning o...

the-greatest-scams - Bernie Madoff Ponzi Scheme

Bernie Madoff Ponzi Scheme

It is in times of crisis when pyramid schemes become relevant. This is due to the fact that credibility to usual financial instruments decreases, but investors are trying to do everything not to lose ...

the-greatest-scams - John Law’s Paper Pyramid

John Law’s Paper Pyramid

John Law, the real name Jean Lauriston, a Scottish-born Frenchman is considered to be the author of the first financial pyramid in the history of mankind. We must be thankful to him for the appearance...

the-greatest-scams - Tulip Mania As Pyramid Scheme

Tulip Mania As Pyramid Scheme

Pyramid schemes emerged simultaneously with the monetary relations, because commodity exchange could not satisfy all market participants. Money immediately became a universal tool for evaluation of al...

the-greatest-scams - James Reavis: The Man Who Stole Arizona

James Reavis: The Man Who Stole Arizona

James Addison Reavis’s affair hits scales. Declaring himself the son of the Spanish Crown aristocrat and the owner of considerable land in the United States, he took charge for the permit to bui...

the-greatest-scams - Ponzi Scheme: History Of Famous Italian Fraudster (Part 3)

Ponzi Scheme: History Of Famous Italian Fraudster (Part 3)

This is the Part 3 of the “Ponzi Scheme: History Of Famous Italian Fraudster” article. Read the Part 2. It happened in the mid summer of 1920. Then the Ponzi’s “old friend&rdqu...

the-greatest-scams - Ponzi Scheme: History Of Famous Italian Fraudster (Part 2)

Ponzi Scheme: History Of Famous Italian Fraudster (Part 2)

This is the Part 2 of the “Ponzi Scheme: History Of Famous Italian Fraudster” article. Read the Part 1 In 1919 Charles Ponzi got a business idea. He decided that he might publish an intern...

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