You can't cheat an honest man : how Ponzi schemes and pyramid frauds work and why they're more common than ever
This book takes an investigative look at the reasons why Ponzi schemes and pyramid frauds are thriving today. It closely examines why over 100,000 Americans are suckered into the schemes every year. Using dozens of memorable case studies, from Charles Ponzi's original scam in the 1920s to the elaborate New Era philanthropy fraud of the 1990s, the book scrutinizes the mechanics behind these deceptive plots. It considers the underlying factors, financial and psychological, that pump life into the scams. It also takes a close look at regulatory rules and other legal issues. Most importantly, it describes the modern variations that perpetrators and swindlers use to sell their schemes. Tips are offered to detect schemes and respond when they occur. The book aims to educate consumers and make them aware of how financial scams work.--From publisher description
Print Book, English, ©1998
Silver Lake Pub., Los Angeles, CA, ©1998
354 pages ; 23 cm
9781563431692, 1563431696
40391267
Introduction: Some Background to the Current Situation
pt. 1. How the Schemes Work. Ch. 1. The Mechanics Are Simple Enough. Ch. 2. Location, Location, Location ... Then the Money's Gone. Ch. 3. A Better Mousetrap Makes a Good Scam. Ch. 4. Paying First Class, Traveling Steerage. Ch. 5. 1040-Ponzi. Ch. 6. Sure-thing Investments and Sweetheart Loans. Ch. 7. Precious Metals, Currency and Commodities. Ch. 8. Affinity Scams
pt. 2. Why the Schemes Work. Ch. 9. Gullibility. Ch. 10. Greed. Ch. 11. Family Ties. Ch. 12. Secrecy and Privacy. Ch. 13. Loneliness, Fear and Desperation
pt. 3. Contemporary Variations. Ch. 14. Multilevel Marketing. Ch. 15. Faith, Religion and New Age Gurus. Ch. 16. Charities and Not-for-profit Organizations. Ch. 17. www.ponzischeme.com
pt. 4. What to Do if You've Been Scammed. Ch. 18. Make Friends with the Regulators. Ch. 19. Go After the People Who Got Money Out. Ch. 20. Go After the Lawyers and Accountants. Ch. 21. Go After Banks and Financiers. Ch. 22. Fight Like Hell in Bankruptcy Court
Conclusion: The Mother of All Ponzi Schemes
Includes index