A Plague of Ponzi, or, Madoff Jr.

Discussion in 'Wall St. News' started by stock777, Jan 2, 2009.

  1. SEC Said to Probe More Ponzi Schemes After Madoff Disclosures
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    By David Scheer

    Jan. 2 (Bloomberg) -- U.S. regulators working to untangle Bernard Madoff’s alleged $50 billion Ponzi scheme are probing other money managers suspected of using similar tactics, two people with knowledge of the inquiries said.

    The U.S. Securities and Exchange Commission is pursuing at least one case in which investors may have been cheated out of as much as $1 billion, according to one person, who declined to name the manager and asked not to be identified because the probe isn’t public.

    Regulators may discover additional Ponzi arrangements as declining stock markets prompt investors to withdraw their cash and they question how their money is being managed. This week, the SEC said it halted what the agency described as a $23 million scam targeting Haitian-Americans, and said the Florida- based operators had tried as recently as last month to bring in more investors.
  2. market surging. no one cares.
  3. DWV


    stock_trad3r posts something, no one cares.