Ponzi Scheme

By | March 12th, 2013|Categories: General Legal Information|Tags: , , , |

Securities Exchange Commission defines a Ponzi scheme as an investment fraud system that involves the payment of purported returns to existing investors from funds contributed by new investors.  In other words, it’s a scam to collect money without following through on its purported promises of investing. Ponzi schemes are also known as pyramid schemes. This [...]