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List Of Ponzi Schemes
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. Historical examples 19th century 1860s * Jacob Young, William Abrams, and Nancy Clem ran what author Wendy Gamber argues, in her book ''The Notorious Mrs. Clem: Murder and Money in the Gilded Age'', was the first-ever Ponzi scheme. * In Munich, Germany, Adele Spitzeder founded the "Spitzedersche Privatbank" in 1869, promising an interest rate of 10 percent per month. By the time the scheme collapsed in 1872 it had become the largest case of fraud in 19th-century Bavaria. 1870s * Johann Baptist Placht ran a Ponzi scheme in Vienna from 1872 to 1873, claiming to invest in the stock market. *Fraudster Sarah Howe opened a savings bank called ''Ladies' Deposit Company'' in 1878 meant to target unmarried women. She claimed that the bank worked in conjunction with a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ponzi Scheme
A Ponzi scheme (, ) is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors. Named after Italian businessman Charles Ponzi, the scheme leads victims to believe that profits are coming from legitimate business activity (e.g., product sales or successful investments), and they remain unaware that other investors are the source of funds. A Ponzi scheme can maintain the illusion of a sustainable business as long as new investors contribute new funds, and as long as most of the investors do not demand full repayment and still believe in the non-existent assets they are purported to own. Some of the first recorded incidents to meet the modern definition of the Ponzi scheme were carried out from 1869 to 1872 by Adele Spitzeder in Germany and by Sarah Howe in the United States in the 1880s through the "Ladies' Deposit". Howe offered a solely female clientele an 8% monthly interest rate and then stole the money that the women ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Belgium
Belgium, ; french: Belgique ; german: Belgien officially the Kingdom of Belgium, is a country in Northwestern Europe. The country is bordered by the Netherlands to the north, Germany to the east, Luxembourg to the southeast, France to the southwest, and the North Sea to the northwest. It covers an area of and has a population of more than 11.5 million, making it the 22nd most densely populated country in the world and the 6th most densely populated country in Europe, with a density of . Belgium is part of an area known as the Low Countries, historically a somewhat larger region than the Benelux group of states, as it also included parts of northern France. The capital and largest city is Brussels; other major cities are Antwerp, Ghent, Charleroi, Liège, Bruges, Namur, and Leuven. Belgium is a sovereign state and a federal constitutional monarchy with a parliamentary system. Its institutional organization is complex and is structured on both regional ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rogers & Wells
Rogers & Wells was an international law firm founded in New York City in 1873. After several name changes, it was renamed for William P. Rogers and John A. Wells. Firms that merged with it include Dwight, Harris, Koegel & Caskey of New York. Background The firm was well known for its litigation arm (second-largest in New York City after white shoe establishment firm Simpson Thacher & Bartlett). It also had an active capital markets and international finance practice, where its main client was Merrill Lynch. The firm at its peak embraced approximately 400 attorneys and maintained offices in New York, Washington, D.C., Los Angeles, Paris, London, Hong Kong, and Frankfurt. In 2000, the firm merged with London-based Clifford Chance. The firm practiced as Clifford Chance Rogers & Wells in the Americas until 2003, when the use of the legacy U.S. firm's name was discontinued. Just before and immediately after the merger, some high-profile partners decamped for other firms including ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Del Mar, California
Del Mar (; Spanish for "Of the Sea") is a beach town in San Diego County, California, located on the coast of the Pacific Ocean. Established in 1885 as a seaside resort, the city incorporated in 1959. The Del Mar Horse Races are hosted on the Del Mar racetrack every summer. In 1885, Colonel Jacob Taylor purchased from Enoch Talbert, with visions of building a seaside resort for the rich and famous. The United States Navy operated a Naval Auxiliary Air Facility for blimps at Del Mar during World War II. The population was 3,954 at the 2020 census, down from 4,161 at the 2010 census. The town has a wealthy population along the coast and the bluffs above the ocean. However, these properties are very vulnerable to climate change, which has caused sea level rise and subsequent coastal erosion; already transportation infrastructure has been under threat. The city has a climate change adaptation plan which notably excludes the option of a managed retreat, even though such a strateg ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
California
California is a U.S. state, state in the Western United States, located along the West Coast of the United States, Pacific Coast. With nearly 39.2million residents across a total area of approximately , it is the List of states and territories of the United States by population, most populous U.S. state and the List of U.S. states and territories by area, 3rd largest by area. It is also the most populated Administrative division, subnational entity in North America and the 34th most populous in the world. The Greater Los Angeles area and the San Francisco Bay Area are the nation's second and fifth most populous Statistical area (United States), urban regions respectively, with the former having more than 18.7million residents and the latter having over 9.6million. Sacramento, California, Sacramento is the state's capital, while Los Angeles is the List of largest California cities by population, most populous city in the state and the List of United States cities by population, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
San Diego
San Diego ( , ; ) is a city on the Pacific Ocean coast of Southern California located immediately adjacent to the Mexico–United States border. With a 2020 population of 1,386,932, it is the List of United States cities by population, eighth most populous city in the United States and the county seat, seat of San Diego County, the List of the most populous counties in the United States, fifth most populous county in the United States, with 3,338,330 estimated residents as of 2019. The city is known for its mild year-round climate, natural deep-water harbor, extensive beaches and parks, long association with the United States Navy, and recent emergence as a healthcare and biotechnology development center. San Diego is the List of municipalities in California, second largest city in the U.S. state, state of California, after Los Angeles. Historically home to the Kumeyaay people, San Diego is frequently referred to as the "Birthplace of California", as it was the first site vi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Michigan Court Of Appeals
The Michigan Court of Appeals is the intermediate-level appellate court of the state of Michigan. It was created by the Michigan Constitution of 1963, and commenced operations in 1965. Its opinions are reported both in an official publication of the State of Michigan, ''Michigan Appeals Reports'', as well as the unofficial, privately published ''North Western Reporter'', published by West. Appeals from this court's decisions go to the Michigan Supreme Court. History The court originally had only nine judges. The number was steadily increased by the Michigan Legislature to accommodate the court's growing caseload—to 12 in 1969, to 18 in 1974, to 24 in 1988, and to 28 in 1993. In 2012, Michigan Governor Rick Snyder signed into law legislation which provided for the transition of each of the court's 4 election districts to 6 judges, which will bring the court back to 24 judges over time through attrition. Overview The court has 25 judges who are elected from four electoral distr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
South Africa
South Africa, officially the Republic of South Africa (RSA), is the southernmost country in Africa. It is bounded to the south by of coastline that stretch along the South Atlantic and Indian Oceans; to the north by the neighbouring countries of Namibia, Botswana, and Zimbabwe; and to the east and northeast by Mozambique and Eswatini. It also completely enclaves the country Lesotho. It is the southernmost country on the mainland of the Old World, and the second-most populous country located entirely south of the equator, after Tanzania. South Africa is a biodiversity hotspot, with unique biomes, plant and animal life. With over 60 million people, the country is the world's 24th-most populous nation and covers an area of . South Africa has three capital cities, with the executive, judicial and legislative branches of government based in Pretoria, Bloemfontein, and Cape Town respectively. The largest city is Johannesburg. About 80% of the population are Black South Afri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kubus Scheme
The Kubus scheme was a scheme that originated in South Africa in the 1980s and was subsequently exported to the United States. It involved the cultivation of milk yeast cultures, which was sold to the originator, and the recultivating of the next batch. The producers had to canvass new members to the organisation to ensure sustainability. The whole scheme crashed when the government decided to implement a law in retrospect, thereby declaring the scheme illegal. The originator had to pay back all the money to claimants, likewise all who benefited had to return their earnings. Origins The scheme was initiated by Adriaan Nieuwoudt after his grandmother showed him a milk culture she used as a skin product. He turned the culture into a remote work Remote work, also called work from home (WFH), work from anywhere, telework, remote job, mobile work, and distance work is an employment arrangement in which employees do not commute to a central place of work, such as an office buildi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dona Branca
Maria Branca dos Santos, more commonly referred to as "'' Dona''" Branca (1902–1992), was a Portuguese criminal known chiefly for maintaining a Ponzi scheme in Portugal between 1970 and 1984 that paid a ten percent monthly interest. During this time she became popularly known as "The people's banker". Dona Branca was arrested in 1984, and in 1988 she was sentenced to 10 years in prison. Apanhados pelos selos, 18 May 2006. She was one of the last inmates of Convento das Mónicas when it was dismantled in 1989. In 1993 RTP created a |
Portugal
Portugal, officially the Portuguese Republic ( pt, República Portuguesa, links=yes ), is a country whose mainland is located on the Iberian Peninsula of Southwestern Europe, and whose territory also includes the Atlantic archipelagos of the Azores and Madeira. It features the westernmost point in continental Europe, and its Iberian portion is bordered to the west and south by the Atlantic Ocean and to the north and east by Spain, the sole country to have a land border with Portugal. Its two archipelagos form two autonomous regions with their own regional governments. Lisbon is the capital and largest city by population. Portugal is the oldest continuously existing nation state on the Iberian Peninsula and one of the oldest in Europe, its territory having been continuously settled, invaded and fought over since prehistoric times. It was inhabited by pre-Celtic and Celtic peoples who had contact with Phoenicians and Ancient Greek traders, it was ruled by the Ro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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