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AND OTHER INVESTING SCAMS!
By Dr. David E. Marcinko MBA CMP®
SPONSOR: http://www.CertifiedMedicalPlanner.org
A Ponzi scheme (/ˈpɒnzi/, Italian: [ˈpontsi]) is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors. Recall Bernie Madoff.
More: https://medicalexecutivepost.com/2010/06/04/the-madoff-circle/
The scheme leads victims to believe that profits are coming from legitimate business activity (e.g., product sales or successful investments), and they remain unaware that other investors are the source of funds. A Ponzi scheme can maintain the illusion of a sustainable business as long as new investors contribute new funds, and as long as most of the investors do not demand full repayment and still believe in the non-existent assets they are purported to own.
Link: https://en.wikipedia.org/wiki/Ponzi_scheme
A pyramid scheme is a business model that recruits members via a promise of payments or services for enrolling others into the scheme, rather than supplying investments or sale of products. As recruiting multiplies, recruiting becomes quickly impossible, and most members are unable to profit; as such, pyramid schemes are unsustainable and often illegal.
CITE: https://www.r2library.com/Resource/Title/0826102549
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Pyramid schemes have existed for at least a century in different guises. Some multi-level marketing plans have been classified as pyramid schemes.
And, there are MANY other schemes in the financial services sector.
Front Running: https://medicalexecutivepost.com/2018/02/06/what-is-front-running/
Churning: https://medicalexecutivepost.com/2021/07/23/churning-front-running-and-pumping-dumping/
YOUR COMMENTS ARE APPRECIATED.
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Thank You
MEDICAL RISK MANAGEMENT: https://www.routledge.com/Risk-Management-Liability-Insurance-and-Asset-Protection-Strategies-for/Marcinko-Hetico/p/book/9781498725989
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Filed under: Accounting, Ethics, Glossary Terms, Industry Indignation Index, Investing, Quality Initiatives, Taxation | Tagged: Churning, David Edward Marcinko, fraud, front running, Investing, Madoff, Ponzi, pump and dump |
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