Seriously, the guy's name is "Beau Diamond"?? If a guy by that name pitching an investment scheme doesn't make you immediately run away you weren't going to keep your money anyway.
Judge says whoa to Beau, and sentences him to 15 years. http://www.tampabay.com/news/courts/sarasota-man-gets-15-years-for-37-million-ponzi-scheme/1141482
The dumb thing is, that if you are a good enough salesman to run a successful Ponzi scam, then you are a good enough salesman to become a millionaire by selling legitimate financial products. Just find a high-performing hedge fund manager who is crap at selling, then raise client funds for him and charge a slice of the profits, you will make a fortune. It never ceases to amaze me what a poor grasp of reality most sales people seem to have.
Maybe, but I suspect there are a LOT more high-performing salesman than there are high performing hedge fund managers.