Can Better Financial Regulation Prevent Investors from Being Defrauded?
New Horizons in Money and Finance series
Chapter 6: Five other case studies: from shaking down the FBI to bitcoin fraud
In comparison with the Madoff operation, almost every other Ponzi scheme (with the exception of Allen Stanford’s) looks to be ‘small beer’. Yet, they are not to those who are victims. Although many investors whose life savings disappeared with Madoff were of relatively modest means, those caught up in other Ponzi schemes are, in comparison, more disadvantaged because they do not have Irving Picard and the deep pockets of the US Securities Investor Protection Corporation (SIPC) to pursue recompense for them. It is with these thoughts in mind, and because there are commonalities between Ponzi schemes, large and small, that some other Ponzi operations are examined in this and the next chapter.
You are not authenticated to view the full text of this chapter or article.
Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.
Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.
Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.