Ponzi Scheme
Hong Kong regulator freezes accounts in US Ponzi scheme
Hong Kong’s Securities and Futures Commission (SFC) has obtained an interim court order to freeze bank accounts connected with a suspected $15m (£12.1m, €13.9m) US Ponzi scheme that invested in Brazilian and African gold mines.
Former Westpac banker jailed for property Ponzi scam
A former Westpac banker in Australia has been sent to jail for three years for encouraging elderly and vulnerable customers to borrow over A$2.5m (£1.5m, $1.9m) to invest in a Tasmanian property development, which turned out to be a Ponzi scheme.
North America | 7 Feb 17
Billionaires caught up in ‘Hamilton’ Ponzi scheme
A billionaire asset management company founder, a billionaire investor, and an executive at an alternative asset management firm all invested in a Ponzi scheme promising high returns by buying and selling tickets to high-demand shows, including Broadway smash musical Hamilton.
North America | 30 Jan 17
Two charged in $81m ‘Hamilton’ musical Ponzi scheme
The US Securities and Exchange Commission (SEC) has charged two New Yorkers with raising more than $81m (£64.5m, €75.7m) through a Ponzi scheme that promised high returns by buying and selling tickets to see high-demand shows, such as Broadway musical Hamilton.
Tax & Regulation | 23 Jan 17
73-year-old London broker jailed in £1.2m Ponzi scheme
A former Charles Stanley stockbroker was jailed for six years after pleading guilty to conning investors, including some of his friends, out of £1.2m ($1.5m, €1.4m) in a Ponzi scheme.