Articles Posted in Ponzi Schemes

Thousands of U.S. taxpayers have fallen victim to investment fraud schemes, often losing their entire life savings, and now the Internal Revenue Service (IRS) wants to assist taxpayers by articulating  how to handle the complex issues facing these taxpayers when filing their taxes. On March 17, 2009, the Commissioner of the IRS, Doug Shulman, testified before the Senate Finance Committee on Tax…

One of the most infamous Wall Street swindlers in history, Bernie Madoff, pled guilty to to 11 criminal counts and was ordered to go straight to jail this week.  During his last court hearing, Madoff stated, “I operated a Ponzi scheme.” What exactly is a Ponzi scheme? How do you spot one? More importantly, how do…