Sentences with phrase «other ponzi schemes»

That puts our accounting on the level of Madoff and other Ponzi schemes.

Not exact matches

Rather, CASPERSEN operated a Ponzi - like scheme in which he misappropriated investor funds from the Fake Fund Accounts and converted them to his own use and use by others, including by using investor funds to meet CASPERSEN's periodic interest payment commitments to earlier investors.

The agency, according to the alert is «concerned that the rising use of virtual currencies in the global marketplace may entice fraudsters to lure investors into Ponzi and other schemes in which these currencies are used to facilitate fraudulent, or simply fabricated, investments and transactions.»

The CFTC contends that the CEO chose to misappropriate the funds of customers rather than invest them, engaging in Ponzi scheme - style payouts to other customers, and in turn lying about balances to cover his tracks.

Other investor funds solicited by Simmons were used by the owner of the Hedge Fund in the Ponzi - like scheme to make payments to prior Hedge Fund investors, Berman said.

Some people think it is money, others think it is a payment system, many see it as a technology protocol, and the stupid see it as a ponzi scheme.

While opinions are divided as to Bitcoin and other cryptocurrencies being a massive fraudulent Ponzi scheme, there is no question that binary options are a scam, so perhaps it is no surprise to see binary options scammers trying to cash in on the hype currently surrounding Bitcoin.

Like every other attempt throughout history to control the laws of economics and perpetuate Ponzi schemes, the current attempt by Central Banks globally will end with a spectacular collapse.

Other investor funds solicited by Simmons were used by the owner of the Hedge Fund in the Ponzi - like scheme to...

The CFTC alleges that the company and its employees created an elaborate hoax, paying customers with funds obtained from other customers — the classic indicators of a Ponzi scheme.

In other words, they're going to keep a ponzi scheme going much like the real estate bubble.

As mentioned in the other article that Bitcoin is real while Ponzi scheme is fake, one particular opposite reality of both worlds is Ponzi schemes flunk 100 per cent in their «get - rich - quick» promises.

In this classic, first published in 1978, the late financial economist Charles Kindleberger looks back at the South Sea Bubble, Ponzi schemes, banking crises and other mass disturbances of purportedly efficient markets.

But there are other red flags that can help you spot a Ponzi scheme.

These sorts of extraordinary claims are common among Ponzi schemes and other types of scams in the cryptocurrency ecosystem.

Too many look the other way on the scams and Ponzi schemes of the rich, but are sancitmoniously outraged when a poor person gets one food stamp too many!

Use or post, without authorization, any content protected by law (e.g. copyright, trademark, patent, utility patent, design patent or other intellectual property (IP) laws), or advertise, promote, offer or distribute any goods or services protected by law; v. Use, post or promote any commercial practices considered unfair competition, including progressive customer acquisition practices (such as chain distribution systems, Ponzi schemes, illegal multi-level selling or pyramid sales).

The Senate Committee on Banking, Insurance and other Financial Institutions has warned that the ponzi investment scheme, MMM, is a pyramid that would soon burst.

His depiction of the privileged — ostentatiously devoid of other classes and races — might have been something to aspire to when «Manhattan» came out, but it's painfully divorced from reality now when so many well - to - do people have been hit by the dot - com bubble, ponzi schemes or what have you.

What other industries (besides credit card debt and mortgages and Ponzi schemes) survive on credit?

Some believe it's a bubble waiting to burst, or is similar to scam or Ponzi scheme, whereas others think it's the future of money.

An investment that requires that you recruit other members is likely a Ponzi scheme.

REITs and MLPs issue new shares to fund acquisitions quite commonly, but other than that it's definitely not a ponzi scheme from what I can tell.

Fractional Reserve Banking As others have pointed out fractional reserve banking is not a ponzi scheme.

Bandoian's report made the company sound like a classic Ponzi scheme, as he wrote that «monies used for repayment appear to have come directly from the funds received from lenders, as Cash Plus did not appear to have sufficient income - generating activities to support the interest payments on these deposits and to pay staff and other operating costs.»

A fascinating front - page story digs into the details of Private Equity Management Group CEO Danny Pang, who has been accused of defrauding investors, running a Ponzi scheme and was once a suspect in the 1997 unsolved murder of his ex-stripper wife, among other unsavory details.

Juniors tried their hand at «accounting malpractice, ponzi schemes, and direct lawsuits» among other issues.

Hot Topics Relating to Ponzi Schemes, Distressed Real Estate Sales, and Other Emerging Issues: SELLER BEWARE: Understanding the Interplay of Reclamation Rights and Federal Bankruptcy Law,» Beverly Hills Bar Association: Business Law Section, March 2010 (and panel speaker)

The Ethereum network's ICOs alone have apparently resulted in considerable phishing, Ponzi schemes, and other scams, accounting for about 10 % of ICOs.

The Ontario Securities Commission can't seem to secure an insider - trading charge, while other provinces have seen some of the biggest Ponzi schemes operate right under their noses.

Members of our team are regularly appointed by federal and state judges at the request of the SEC to oversee the liquidation of entities that were engaged in Ponzi schemes and other frauds.

There is a lot of scepticism surrounding cryptocurrencies, and the Indian government is doubling down on this trend by not only warning people against investing in Bitcoin and other cryptocurrencies, but also calling Bitcoin a «Ponzi scheme».

«In reality, as alleged, the supposed trading results were illusory, and any payouts to customers were derived from funds fraudulently obtained from other customers in the manner of a Ponzi scheme,» the CFTC write - up summarizes.

Some people think it is money, others think it is a payment system, many see it as a technology protocol, and the stupid see it as a ponzi scheme.

These sorts of extraordinary claims are common among Ponzi schemes and other types of scams in the cryptocurrency ecosystem.

Its price rise has been driven purely by speculation — by what Robert Shiller calls a natural Ponzi scheme, in which early entrants make money only [because] others buy in.»

The Ponzi scheme would later in 2016 spread to other African countries such as Kenya, Ghana, Nigeria and Zimbabwe.

It would seem that Munger believes bitcoin and other cryptocurrencies to be something like a self - powered Ponzi scheme.

Through its Crypto - Nigeria arm, local meet ups have been arranged in order to tackle criminal activities by collaborating with government agencies and relevant bodies in fighting against crypto - related crimes, such as HYIP and Ponzi schemes that use bitcoin and other cryptocurrencies for payment.

In addition, some investors and investigators consider Bitcoin and other cryptocurrencies to be either a passing fad (an economic bubble) and thus an extremely risky means of investment, or a fraud in and of itself, a «Ponzi scheme» for the benefit of Satoshi Nakamoto and other early investors.

It is alleged that the BitConnect platform had been issuing digital tokens that were seen to be unregistered securities and they had also received funds in other ways which made it into a «wide - ranging Ponzi scheme.»

«The purported performance reports were false, and — as in all Ponzi schemes — payouts of supposed profits... actually consisted of other customers» misappropriated funds,» the CFTC reported in a statement.

Some have called the nascent digital assets under various names such as bubbles, Ponzi schemes, fraud, and many other crazy names.

The run - up in bitcoin and other crypto assets has offered cynics of all stripes a chance to look smart by condemning cryptocurrency as a «Ponzi scheme» that could «cause a recession.»

Some promise their trading bots can outperform the market, while others more closely resemble a Ponzi scheme from the beginning.

The cryptocurrency community tends to be very active when is about denouncing cryptocurrency Ponzi schemes or other fraudulent activities.

On the other hand, there have been quite a few cloud mining services who have turned out to be Ponzi schemes.

India's Ministry of Finance has claimed that Bitcoin and the other digital currencies are like Ponzi schemes and issued a warning for investors.

Already in January of this year, the Texas State Securities Board has sent two other cease and desist notices to crypto - related organizations: one to alleged Ponzi - scheme Bitconnect for selling unlicensed securities, and another to «cryptocurrency bank» AriseBank for not actually being a bank, making this Feb. 26 notice the third order of this year.

The company and its owner, Dillon Michael Dean, are charged «with engaging in a fraudulent scheme to solicit Bitcoin from members of the public, misrepresenting that customers» funds would be pooled and invested in products including binary options, making Ponzi - style payments to commodity pool participants from other participants» funds, misappropriating pool participants» funds, and failing to register with the CFTC.»