Ponzi Scheme

Top 10 Financial Scandals of All Time

Massive financial losses are joined by political double-dealings, public spectacles, pyramid schemes, celebrity downfalls, rouge traders and a few Nazis.

10 Mistakes That Turn Investors Into Their Own Worst Enemies

The hardest part of investing can sometimes be getting out of your own way. Too often, we let emotions guide our investing strategies, with disastrous results. A new study reveals the most common mistakes: We've summed up the popular pitfalls so you can avoid them.

Life After a Ponzi Scheme: Victim Turns Huge Loss into Literature

In 2008, R.P. McCabe saw a $1 million investment in real estate disappear, not due to the recession, but a Ponzi scheme that robbed around 700 investors of $100 million. First he got mad. Then he got depressed. Next, he got curious. And then he wrote a novel based on the experiences of his fellow victims: "Betrayed."

.44 Magnum Investment Scam Was Intended to Be a Real Killer

After all the times people have been duped by Ponzi schemes and Nigerian scams, people still fall for similar cons. But in the case of the .44 Magnum Leveraged Financing Program, some investors recently found a way to lose their money with a real bang.

How Our Tiny 'Thefts' Add Up to Madoff-Scale Damage

It's easy to place the blame for many of our societal problems on newsworthy criminals like Bernie Madoff. But the truth is, most of us engage in minor acts of ethical misconduct that, cumulatively, have a worse effect than the crimes that make the news.

A Simple Money Move That Could Save Social Security

With so many pundits fretting about Social Security's possible collapse in 2036, it's hard to be optimistic about the entitlement program's future. But one insurance expert thinks that giving retirees a bit more flexibility could save the entire system.

Ponzi Scheme or Not, Social Security Is Going to Shrink

Social Security's trust fund is in the long, slow process of collapsing because it won't have enough funds to pay its promised benefits. Sound like a Ponzi scheme? Perhaps, but at least this "scheme" is one in which you can come out ahead -- especially if you start preparing now.

Social Security Going Bust? That's the Small Problem

The woes Social Security faces have generated plenty of worried talk lately, but even if nothing changes, it'll be solvent until 2036. But Medicare, the other major government program that retirees rely on, is on course for financial disaster years sooner. That program, of course, is Medicare, and the funding situation for the portion of its benefits that retirees receive looks even scarier than Social Security's prospects right now.

L.A. Radio Host Charged With Ponzi Scheme

An Iranian-American businessman who hosted a popular Persian language radio show called Economy Today has been indicted on charges that he robbed investors of $20 million in a Ponzi scheme than ran for six years.

Was Kris Humphries Conned By a Financial Scammer?

Kris Humphries may be mourning the death of his brief marriage to Kim Kardashian, but that may not be the only thing he has lost recently. It appears he may have been the victim of financial fraud, losing perhaps several hundred thousand dollars. Let his case be a warning to you: Here's what to watch out for.