All Posts Tagged Tag: ‘Ponzi’

DOJ Files Complaint Against Internet Ad Company

The U.S. Department of Justice wants to seize the property and $53 million from the owner of a Florida- based Internet company that allegedly was involved in a massive Ponzi scheme.

A Ponzi scheme is named after Charles Ponzi, who around 100 years ago tricked thousand of New Englanders into investing their money with him. Money from new investors is used to pay off earlier investors until the scheme collapses.

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