Aug 31, 2021

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Biggest Ponzi Schemes in U.S. History that Tricked Thousands of Investors

Biggest Ponzi Schemes in U.S. History that Tricked Thousands of Investors

There are countless Ponzi schemes in U.S. history that have fooled thousands of investors. In this blog post, we will take a look at some of these Ponzi schemes in U.S. history to show you how these scammers operate and what can be done to protect yourself against getting caught up in one of these fraudulent operations.

Top Ponzi Schemes In Ths U.S. History:

Bernie Madoff was convicted for running an elaborate $65 billion Ponzi scheme through his investment firm Bernard L. Madoff Investment Securities L.L.C. The fraud continued for decades while Madoff ran the company, making it one of the largest financial scams in U.S. history and leaving thousands if not millions of victims across multiple continents.

Allen Stanford was also convicted for running a $22 billion Ponzi scheme through his Texas-based Stanford Financial Group that lasted from 1991 to 2009 when he was arrested. Stanford claimed to offer certificates of deposit for investors, but in reality, he was running a “massive Ponzi scheme.”

Fletcher International Trading Company was an Atlanta-based investment firm that operated as a Ponzi scheme from the 1970s to 1980s, taking in $266 million before it collapsed and left hundreds of victims in its wake.

Equity Funding Corporation was a public company that raised over $250 million by promising investors to get high rates on their investments and then used the funds to pay off earlier investors.

The next on this list is the most recent Ponzi scheme in U.S. history, which was started by a 28-year-old who called himself “Bitcoin king.” He claimed to have gained access to the government’s email server and release Hillary Clinton and John Podesta’s emails.

Possible Solutions:

Unfortunately, there is no way to tell if an investment firm or company is running as a scam without the proper research and background checks. But as a precautionary measure, you should get in touch with an investment fraud attorney like Erez Law as soon as you notice something unusual. Taking this step will ensure that you don’t have to struggle much to recover your investments.

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