Chinese authorities arrest 21 people involved in the Ezubao online finance scheme accused of allegedly defrauding 900,000 people of 50bn yuan ($7.6bn; £5.3bn) in a Ponzi scheme.

Sources: BBC

Irving Picard, a court-appointed trustee liquidating the Madoff asset management firm, says that he has reached a settlement with the family of the late Stanley Chais, in connection with monies that had been funneled from California investors, through Chais, into Madoff's Ponzi scheme.
2016-10-28

Authorities in the U.S. arrest Paul Konigsberg, an accountant, charging him with complicity in the Ponzi scheme of former New York financier Bernard Madoff, a scheme that unraveled in 2008.
2013-09-26

Former NFL 1st round draft pick punter for the New Orleans Saints Russell Erxleben is arrested on charges of wire fraud in an alleged Ponzi scheme.
2013-01-25

Businessman Allen Stanford is convicted of running a US$7 billion Ponzi scheme.
2012-03-6

Allen Stanford's lawyers seek a two-year postponement of his trial and for his release from prison in the meanwhile. He is charged with running a $7 billion Ponzi scheme.
2010-12-27

More than half of politicians in Benin call for impeachment proceedings against President Boni Yayi over his involvement in a Ponzi scheme.
2010-08-20

Distributed under CC BY-SA 3.0 and available in many open API formats: Markdown, HTML, JSON and XML. Push nofitications via Twitter.

Original news text authored by contributors of Wikipedia® Current Events Portal is available under CC BY-SA 3.0 ; additional terms may apply. Open graph meta tags contents: titles, descriptions and images delivered by the news sources are explicitly public and their display constitutes fair use, however each item may contain registered trademarks of third parties and/or specific limitations on reuse; additional terms may apply. Names of the news sources are registered trademarks of respective media organisations.

By using this site, you agree to the Wikimedia Terms of Use and Offstream Privacy Policy & Terms of Use. Wikipedia is a registered trademark of the Wikimedia Foundation, Inc., a non-profit organisation. Offstream is not affiliated with Wikimedia Foundation, Inc.

Offstream
news

2016-02-1

Ponzi scheme

Chinese authorities arrest 21 people involved in the Ezubao online finance scheme accused of allegedly defrauding 900,000 people of 50bn yuan ($7.6bn; £5.3bn) in a Ponzi scheme.

Related