Last post, we were talking about the two essential elements that give away a Ponzi scheme (or, for that matter, a pyramid scheme, but that is for another post). These two elements are:
1. The fraudster is making a great deal of money in a very short amount of time; and,
2. The fraudster cannot convincingly explain how such monies are being made.
As with Charles Ponzi, these elements are met.
Charles Ponzi was making a great deal of money, for his investors and for himself. Further, these monies were being made in a short amount of time, literally overnight.
Second, when asked how he made these monies, Ponzi could not convincingly describe how he was doing so.
This is the hallmark of most frauds and we will be seeing this theme time and again.
As always, have a great and fraud-free day.
http://www.tauskvega.com
----------------->>>>>>>>>>gene tausk
1. The fraudster is making a great deal of money in a very short amount of time; and,
2. The fraudster cannot convincingly explain how such monies are being made.
As with Charles Ponzi, these elements are met.
Charles Ponzi was making a great deal of money, for his investors and for himself. Further, these monies were being made in a short amount of time, literally overnight.
Second, when asked how he made these monies, Ponzi could not convincingly describe how he was doing so.
This is the hallmark of most frauds and we will be seeing this theme time and again.
As always, have a great and fraud-free day.
http://www.tauskvega.com
----------------->>>>>>>>>>gene tausk
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