Ponzi Scheme
Crypto Scam Kingpin Tortured to Death by Accomplices
The kingpin of a bitcoin scam worth Rs 485 crore ($67 million) has been tortured to death by five of his associates in Dehradun, India, a senior police official said on Saturday.
OneCoin Founders Arrested as Ponzi Scheme Fraudsters
A United States District Attorney has charged the founders of OneCoin cryptocurrency pyramid scheme. The cryptocurrency founders Konstantin Ignatov and his sister Ruja Ignatova were arrested in Los An...
Fake Crypto Millionaire Airdrops $12M in Hong Kong’s Poor Neighborhood
On Sunday, December 16th, mainstream media reported, that a 24-year-old bitcoin millionaire Wong Ching Kit airdropped more than $12 million worth of cash in one of Hong Kong’s poorer neighborhoo...
Ant Farm Scam
Quite an unusual pyramid scheme was built by a Chinese businessman Wang Fenguou. In 1999, he opened ‘Yilishen Tianxi Group of China’, to make health products whose main ingredients were an...
Russian House ‘Selenga’
Financial Company JSC Russian house “Selenga” (RHS), one of the earliest Ponzi schemes in Russia, started functioning in 1992. People easily believed in the promise of golden tre...
Ivan Rykov’s Bank — First Ponzi Scheme in Russia
There is a common but mistaken opinion that MMM Ponzi scheme, one of the world’s largest financial scam of all time, was also the first Russian Ponzi scheme. That is not the case. The first...
MMM’s Ponzi Scheme: To Russia, With Love (Part 2)
This is the part 2 of the “MMM’s Ponzi Scheme: To Russia, With Love” article. Read the Part 1. In general, MMM operated actively only for six months — from the beginning o...
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 ...
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...
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