The Ponzi finance stage: Borrowers can only repay their debts by increasing their debt or selling borrowed assets at fire sale prices since many are in the same position and the market knows you must sell, giving you no bargaining position. Borrowers don't have enough cash coming in to cover...
Carding is a crime that often involves the purchase of gift cards which can then be spent on relatively difficult-to-trace goods. The goods are then re-sold online or elsewhere. The credit or debit card information may also be resold to others for use in various illicit schemes, such as ...
Advance-fee scams are notorious on the internet, epitomized by one of the world’s first email fraud schemes: the Nigerian Prince. These scams are a modern twist on the oldSpanish Prisoner con, where scammers claimed to be in contact with a wealthy aristocrat, currently imprisoned and in nee...
Part IV: Recent Stories of Tax Fraud Filing a False Tax Return Tax Evasion Celebrity Criminal Tax Fraud Employee Embezzlement Payroll Tax Fraud Tax Preparer Fraud Family Tax Fraud Willful Evasion or Simple Mistake? Ponzi Schemes National Tax Fraud The Tax Fraud of an AttorneyPART...
Banks and financial institutions should make some sacrifices because this is for the good of the U.S. economy. Ponzi schemes Ponzi schemes were introduced by a man named Charles Ponzi who collected small and large amounts of money from investors with the pretext that they would earn as much ...
Harry Markopolos, an obscure securities professional in the early 2000s, attempted for several years to warn the Securities and Exchange Commission (SEC) and others about thePonzi schemeperpetrated byBernie Madoff.4 Markopolos finally gained recognition as the lone whistleblower when Madoff's scheme...