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The Lure Of Ponzi Schemes

Thursday, March 7, 2013 - 8:58 PM
This Kiplinger Personal Finance author offers a number of suggestions
for avoiding fraud; unfortunately being human gets in the way; she
writes:

     Shouldn’t we know better by now? The unfortunate fact of
     human nature is that knowing better isn’t easy. Ponzi
     operations are typically light-years more sophisticated
     than the Nigerian money-transfer scams caught by your
     e-mail spam filter. As fraud expert and SEC trial counsel
     Pat Huddleston is fond of saying, “If it sounds too good
     to be true, you’re dealing with an amateur.” Madoff and
     his ilk don’t promise the moon; the returns they offer,
     albeit fictitious, are plausible.

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cumuluscumulus359 posts since
Jan 16, 2010
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