This article needs additional citations for verification .(May 2017) |
This is a list of Ponzi schemes , fraudulent investment operations that pay out returns to investors from money paid in by subsequent investors rather than from any actual profit earned from the operation of a business.
Other notable (but involving smaller amounts of money) Ponzi schemes include:
{{cite web}}
: CS1 maint: archived copy as title (link) Keyfetz, Lisa, "The home ownership and equity protection act of 1994: extending liability for predatory subprime loans to secondary mortgage market participants". Loyola Consumer Law Review, Vol 18:2, pp, 165–66. Retrieved August 29, 2007.{{cite web}}
: CS1 maint: archived copy as title (link){{cite web}}
: CS1 maint: archived copy as title (link)The two brothers attracted worldwide attention in December 2008 after they alerted federal agents that their father, a respected Wall Street statesman, had confessed to them that his private investment management business was a vast Ponzi scheme. Based on that report, the senior Mr. Madoff was arrested the next morning, Dec. 11, 2008.
Unknown to almost all of his subscribers, that publisher was Mark David Madoff, the older son of the convicted swindler Bernard L. Madoff.
Police have uncovered a major financial pyramid scheme that operated under the guise of an investment company and had an office in Moscow City. The alleged fraudsters offered wealthy clients to hand over their money for "trust management," but instead of investing, they transferred it to offshore companies. According to investigators, one of the investors transferred them 1 billion rubles.
The court found that in 2011, in order to systematically embezzle citizens' funds, the actual head of the financial group, the criminal case against which was allocated to a separate proceeding, created a criminal community. It included Pakhomov at different times, who was the General Director of KF Estate SPB LLC, Golubev, Rossiyeva and Matyukhin, who was the General Director of QBF Investment Company LLC, as well as other persons, criminal cases against whom were allocated to separate proceedings. From 2012 to 2021, members of the criminal community through a network of offices opened in various regions of the Russian Federation, including on the Presnenskaya embankment in Moscow, attracted funds from citizens under the guise of investing in various financial projects. Creating a false appearance of high income among potential clients, the defendants persuaded to conclude agreements and trust management contracts on behalf of the companies of the QBF group, the development and legal support of which were carried out by Rossieva. The members of the criminal community were not going to fulfill their obligations to customers, provided them with untrue financial reports, and the funds received were stolen and used at their discretion. Thus, members of the criminal community stole the money of 151 victims for a total amount of more than 2 billion rubles.
The court sentenced QBF CEO Stanislav Matyukhin to 17 years in prison, branch network director Vladimir Pakhomov to 18 years, lawyer Evgenia Rossiyeva to 15 years, and the head of the St. Petersburg office Alexey Golubev to 13 years.
{{cite web}}
: CS1 maint: multiple names: authors list (link){{cite web}}
: CS1 maint: archived copy as title (link)