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THURSDAY, NOVEMBER 26, 2009
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NEWS ABOUT: pyramid scheme

pyramid scheme stories: 3 news summaries

(Newser) - London investigators have uncovered a $130 million Ponzi scheme that duped hundreds of celebrities and businessmen around the world, reports the Telegraph. The scammers were so slick that many of their victims refuse to believe they were sucked in by the ersatz high-yield fund, and are still expecting payment, according... More »

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pyramid scheme • London • crime • investors • England • Britain • Ponzi scheme • defrauding investors

Feds to Charge Hsu on Pyramid Scheme, Dem Fundraising

Some of missing money said to be donated

Sep 20, 07 11:15 AM CDT
(Newser) - Rogue Democratic fundraiser Norman Hsu’s troubles are deepening today, as federal officials are expected to charge the twice-on-the-lam financier with running a $60 million pyramid scheme and breaking campaign-finance laws. Hsu faces accusations that he falsely told investors their money was going into a clothing operation; some of was... More »

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private equity • pyramid scheme • campaign finance • Norman Hsu • escape • campaign fundraising

Ant Farm
Con Man
Gets Death

Fraudulent sales of "medicinal ants" earned him $400 million

Mar 21, 07 3:13 PM CDT
(Newser) - A pyramid scheme built on an ant farm earned a Chinese entrepreneur over $400 million—and a death sentence. The sentence meted out to Wang Zhendong by a Chinese court last month is part of a nationwide crackdown on fraud. Wang swindled thousands of people by misrepresenting his wares... More »

MORE ABOUT:
China • death penalty • medicine • Wang Zhendong • pyramid scheme • fraud • ants • death sentence

3 Stories


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