Investments in Ponzi Schemes
Reaches Highest Level Since 2010 According to CNBC,
60 alleged Ponzi schemes
were discovered in 2019. Investments in them
totaled $3.25 billion, the
largest amount since 2010. Ponzitracker adds that figure is more than twice the
amount of 2018's invested ponzi scheme money. Investment fraud attorney Andrew Stoltmann
says current investors are lowering their
defenses for a couple reasons. One is the stock market's recently strong track record
and another is federal deregulations. He adds that it's not as bad as 2008, when
40 schemes were uncovered with $23 billion invested. Stoltmann still warns that
an "investor massacre"
could be on the horizon. Andrew Stoltmann, via CNBC Bernie Madoff's $65 billion ponzi scheme was
also discovered in 2008, the biggest in history.