• Wed
  • Jul 23, 2014
  • Updated: 9:57pm

Charles Ponzi

Lai See

Citigroup Ponzi drama rumbles on with appeal launched

The long-running saga involving former Citigroup private banker Ramesh Sadhwani, who allegedly operated a Ponzi scheme from 2004 to 2009, continues to rumble on.

Saturday, 14 January, 2012, 12:00am

Quotes of the week

I'm not sure how I felt about him waking up

Ruth Madoff, on her failed suicide bid with husband Bernie two weeks after his massive Ponzi scheme was revealed

He made our lives hell. I wanted to see him dead with my own eyes

Mohammed, one of thousands of Libyans who flocked to see the remains of Muammar Gaddafi

30 Oct 2011 - 12:00am

2b yuan 'Ponzi' bank scam exposed

A private moneylender in the Inner Mongolia Autonomous Region is being held for manipulating state-owned banks and staff to funnel people's money into her accounts in a multibillion-yuan Ponzi-type scheme.

28 Sep 2011 - 12:00am

Organiser takes leaf from Bernie Madoff's book to raise money for charity

Suck it up, Bernie Madoff: the good people of Hong Kong are turning your fraudulent scheme on its heels for a good cause. Led by fund-raiser Catherine LaJeunesse (pictured with husband Andre), five charitable Hongkongers kick off the city's first legal ponzi scheme this afternoon with a pledge of HK$100 each and a tour of free multimedia art event Hope & Glory in Taikoo Place.

14 May 2010 - 12:00am

Pyramid schemes

A Ponzi scheme is often mistaken for another type of white-collar crime - the pyramid scheme. However, there is a basic difference. In a pyramid scheme, an investor pays the organiser a sum of money, and is then promised a commission if they recruit more investors. Thus every member benefits from the ever-growing pyramid except for those at the bottom who cannot find anybody to recruit.

5 Jan 2009 - 12:00am

liberal studies

Reading comprehension

Answer the following questions:

1. How did authorities discover Bernard Madoff's scam?

a. an investor who lost billions of dollars reported him

b. his son was a lead investigator with access to all his personal files

c. his auditor turned him in

5 Jan 2009 - 12:00am

Scam-linked forests taken over

Authorities in Inner Mongolia have taken over a series of timber plantations that were at the centre of one of the mainland's biggest financial scams, giving some hope to the nearly 40,000 people, mostly retirees, who sank 1.3 billion yuan into the scheme.

4 Jan 2008 - 12:00am