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Ponzi Nation

By Michael MacPhail, Esq.

          An article in USA Today quotes SEC and CFTC officials as stating that these agencies have collectively filed more than 46 Ponzi scheme cases so far in 2009.  This week alone, federal or state securities and commodities regulators filed new actions against alleged Ponzi schemes in California, Hawaii and Montana.  The officials attribute the increase in these cases to the recession, which has made investors more suspicious and led to a high volume of redemption requests.  Will investors finally learn that investments with unusually high returns involve unusually high risk? See http://www.usatoday.com/money/markets/2009-04-17-markets-recession-scheme-ponzi_N.htm?loc=interstitialskipcontinue to full post

Full post as published by NASD, SEC and Regulatory Defense Blog on April 17, 2009 (boomark / email).