Ponzi Schemers Usually Target Closest

Many if not most of the Ponzi schemes that have recently come to light appear to have targeted individuals or groups close to the scheme perpetrators. Even Bernard Madoff targeted wealthy individuals and philanthropists with whom he was well acquainted. In particular, smaller Ponzi schemes most often target individuals whom the schemer knows or who […]

New Jersey Sues Former Lehman Executive and Directors

The state of New Jersey has filed a law suit in New Jersey state court alleging fraud by the former executives and directors of the now bankrupt Wall Street firm Lehman Brothers. The complaint alleges that Lehman’s executives misstated the firm’s financial position in 2008, leading the state to make investments in Lehman’s shares during […]